URL: /sports-betting-guide/what-are-futures-bets

WHAT IS A FUTURES BET?

A parlay bet combines two or more bets into one ticket. All bets must win for the parlay to cash. The entire parlay loses if one "leg" loses, but the payout is higher than betting each pick separately.

Parlay Betting Explained

If you’re looking for a bigger potential payout, a parlay can be a great choice because it lets you combine multiple individual bets (called “legs”) into one wager. To win a parlay, every leg must be successful. If one doesn’t hit, the entire bet loses.

Let’s say there are three NFL games you’re confident you know the outcomes of. Rather than just betting on them all individually, you can combine them all into one parlay. The odds of each bet are all multiplied together, which means that if you do win, the payout will be higher—but since you have to win all three bets, it poses a higher risk than just betting on one game.

Example: 3-Leg NFL Paraly

Let’s take that example a bit further. Imagine that the three games you’re confident about are the Cowboys vs Commanders (-110 odds), Lions vs Broncos (-110 odds), and NY Giants vs Chargers (-114 odds).

  1. Betting on each game individually gives you three separate bets. If you bet $5 on each game, you are betting $15 with a total payout of $13.48 if all bets win.
  2. By parlaying these three bets, you now only have one bet with +584 odds. If you bet $15 on this parlay, you can win $87.63 if all legs of the parlay hit.
Over Under Bet Over Under Bet

As you can see, the payout can be significantly high if all three legs of the parlay win, more so than if you had bet on each game separately. However, the whole parlay is graded as a loss if any of those legs loses, so there is more risk involved.

Same Game Parlay & SGP+

You can take parlay bets a step further with FanDuel’s Same Game Parlay (SGP) and Same Game Parlay+ (SGP+), both of which allow you to build even more interesting and creative bets.

As the name implies, a Same Game Parlay is built using multiple bets from the same game. You can take spreads, totals, player props, and more, and roll them all into one wager. For example, for a single NFL game, you could create a parlay like:

  • Cowboys -4 Spread Bet
  • Over 48.0 Total Match Points

    • If both legs hit, you win the parlay, just like a traditional multi-game parlay.

Over Under Bet

What's the Difference Between Same Game Parlay and Same Game Parlay+?

SGP+ (Same Game Parlay Plus) takes a Same Game Parlay (multiple bets from one game) and combines it with other bets or parlays, either from other games or even other Same Game Parlays. It lets you link multiple SGPs or mix an SGP with other single bets into one ticket with higher combined odds. All selections still have to hit to win the bet, but you get more flexibility and potentially bigger payouts than a standard SGP.

In simple terms:

  1. A Same Game Parlay (SGP) bundles bets from the same game.
  2. An SGP+ lets you take that bundle and add more bets (even from different games) so everything becomes one larger parlay.

How to Place Parlay Bets on FanDuel

  1. Log in to your FanDuel account (or create one).
  2. Add multiple selections from different games (or same game) to your bet slip.
  3. FanDuel will automatically offer the Parlay option if your picks are eligible.
  4. Enter your wager amount and hit Place Bet.

Parlays can be tracked and cashed out (when eligible) in the “My Bets” section of the app.

FREQUENTLY ASKED QUESTIONS

What does “spread” mean in sports betting?

  1. Open the Active tab on your My Bets page. For any bet where a Bet Back Token is available, you will see the Bet Back Token button.
  2. When you click on the Bet Back Token button, you will be asked to confirm that you wish to settle your bet.
  3. Once you apply your token, your bet will be settled and your stake will be returned in Bonus Bets. Each token can only be used once.

Can I undo using my Bet Back Token?

Sportsbooks use “spread” bets to level the playing field if a matchup features an uneven balance between the two teams. The favorite must win “cover the spread” and win by more than the amount shown in the bet, and the underdog must either win or lose by only the spread amount.

If my bet ends up winning, do I still get those winnings?

No, once you use the Bet Back Token, you are no longer eligible to receive any potential winnings from the bet you use the token on.

How is a Bet Back Token different from No Sweat Tokens?

Bet Back Tokens are applied anytime after the game starts and before your bet is settled, so you can wait until you think your bet isn’t going to win to decide to use your token, whereas a No Sweat Token can only be used on a bet before the game starts.

What does a ‘max refund' mean?

You'll get refunded in Bonus Bets up to a maximum amount, as specified on the promotion page. Be sure to note - any part of your initial stake beyond the maximum refund will be forfeited.

For example, if your max refund is $50, you can apply the token to a $100 wager. However, you would only be eligible for $50 in Bonus Bets. You would forfeit the remaining $50.

How is a Bet Back Token different from Cash Out?

Your Bet Back Token value is a set amount no matter when you decide to use it.

With Cash Out, your payout could be higher or lower than your initial wager amount depending on how the game is playing out.

Bet Back Tokens are available throughout the game regardless of the situation, while a Cash Out offer is not always guaranteed to be there.

Please note, Bet Back Tokens are paid out in Bonus Bets, while Cash Out is returned as cash to your FanDuel account.

Can you use a Bet Back token on a parlay or SGP+ bet?

Yes, but at least one of the games from one of the legs must have started in order to use the token.