A parlay combines two or more wagers into a single bet. All legs must win — if any one loses, the entire parlay loses. Payouts compound across legs, which is why parlays produce the eye-catching tickets that get framed on sportsbook walls.
Each leg multiplies the implied odds of the previous one. A two-leg parlay of two −110 favourites pays roughly +264 (3.64x). A three-leg pays roughly +595. Sportsbooks generally pay slightly less than the true mathematical price — the difference is the parlay hold.
Parlays carry far higher hold than straight bets — often 20–30% of handle stays with the sportsbook versus 5% on a straight ML. That is why every Nebraska kiosk offers a "Parlay Builder" tool and pushes parlay specials. From the player's perspective, parlays are −EV by default unless legs are correlated or you have a true edge.
Same Game Parlays (SGPs) combine multiple legs from the same game — a moneyline, a player prop, a total. Because the legs correlate, books price SGPs separately with a higher implied hold. Most Nebraska kiosks support SGPs on major NFL, NBA and MLB games.