Parlay Betting Guide in Illinois: How to Bet Parlays in IL

What is a Parlay Bet?

A parlay bet links two or more individual wagers, called "legs," into a single bet. To win, every leg must be correct. The appeal? Higher payouts than betting each leg separately, since the odds multiply. However, if even one leg loses, the entire parlay is a loss. In Illinois, parlays are available across sportsbooks like FanDuel, DraftKings, and BetMGM, covering sports from the NFL to the NHL.

For example, you might bet on the Bears to cover the spread, the Bulls to win outright, and the Blackhawks to go over their game’s total goals. If all three hit, you cash out big. If one misses, you get nothing. It’s high-risk, high-reward, perfect for Illinois fans who love sweating multiple games at once.

How Do Parlay Bets Work?

Parlays combine selections from different games, same games, or even different sports. Each leg has its own odds, and the sportsbook multiplies them to calculate the parlay’s total odds. Illinois betting apps make it easy with intuitive bet slips that show your potential payout as you add legs.

Here’s how it works:

1. Choose Your Bets: Pick at least two wagers. Maybe the Cubs to win at Wrigley Field and the Illinois Fighting Illini to cover against a Big Ten rival.
2. Combine Them: Add both to your bet slip as a parlay. The sportsbook calculates the combined odds.
3. Place Your Bet: Enter your stake. A $10 parlay at +300 odds could return $40 ($30 profit + $10 stake) if all legs win.

Wait for Results: Every leg needs to hit for you to win. If one loses, the parlay busts.

Illinois bettors can’t include in-state college team props (like player-specific bets) in parlays due to state regulations, but moneylines, spreads, and totals for teams like Northwestern or Illinois are fair game.

Types of Parlay Bets in Illinois

Sportsbooks offer several parlay variations to suit different betting styles:

• Traditional Parlay: Combines bets across multiple games or sports. Example: Bears moneyline, Bulls spread, and Blackhawks over/under.
• Same-Game Parlay: Mixes bets from one game. FanDuel, big in Illinois, lets you combine, say, the Bears’ spread, Justin Fields’ passing yards, and total points in their matchup with the Packers.
• Round Robin Parlay: Creates smaller parlays from a larger set of bets. Pick three teams (e.g., White Sox, Cubs, Bulls), and it generates three two-team parlays. You can still win some if one leg fails.
• Teaser Parlay: Adjusts point spreads in your favor (e.g., Bears +6 becomes +10) but lowers the payout. Common for NFL bets in Illinois. 

Parlay Betting Example Using Illinois Sports Teams

Let’s build a parlay with Illinois teams:

• Leg 1: Bears +3.5 vs. Vikings (-110 odds). You think Chicago keeps it close at Soldier Field.
• Leg 2: Bulls moneyline vs. Knicks (-150 odds). You’re confident in a Bulls win at home.
• Leg 3: Blackhawks over 5.5 goals vs. Blues (-120 odds). You expect a high-scoring game.

A $20 parlay with these legs might look like this on a DraftKings Illinois bet slip: Combined odds: ~+600 (calculated by multiplying the implied probabilities).

Potential payout: $140 ($120 profit + $20 stake).

If the Bears cover, Bulls win, and the Blackhawks game goes over 5.5 goals, you cash out. If the Vikings blow out Chicago, you lose, even if the other two hit. 

If you want to learn more about potential profits from parlays, check out our free parlay calculator. 

How to Place a Parlay Bet in Illinois

Placing a parlay in Illinois is straightforward, whether online or at a retail sportsbook. Here’s the step-by-step:

1. Sign Up: Create an account with a licensed sportsbook (e.g., FanDuel, BetRivers IL). Verify your age (21+) and location.
2. Deposit Funds: Use PayPal, credit cards, or ACH transfers. Make sure to take advantage of IL sportsbook promos during this process to claim bonus bets!
3. Select Bets: Browse markets for NFL, NBA, NHL, or more. Add at least two picks to your bet slip.
4. Choose Parlay: Your bet slip will automatically offer a parlay option. For same-game parlays, select “SGP” on apps like FanDuel Illinois.
5. Enter Stake: Input your wager amount and confirm the potential payout.
6. Submit: Place the bet and track it live in the app.

Parlay Betting Tips for Illinois Bettors

Maximize your parlay success with these Illinois-focused tips:

• Start Small: Begin with two or three legs. A Bears-Bulls parlay is easier to hit than a five-team monster.
• Know the Rules: Illinois bans college prop bets, so stick to spreads or moneylines for teams like DePaul or Loyola Chicago.
• Shop Odds: Compare payouts at DraftKings, FanDuel, and Caesars. A slight odds difference can boost your return.
• Use Promotions: Look for parlay boosts at BetMGM Illinois or FanDuel’s “No Sweat” parlay offers, common in Illinois.
• Research Teams: Check injury reports (e.g., Bears’ QB status) and home/away splits (Bulls at United Center are tough).
• Avoid Longshots: A 10-leg parlay sounds tempting, but your odds of winning plummet. Stick to realistic combos.

Why Bet Parlays in Illinois?

Parlays are a hit in Illinois because they turn small stakes into big payouts. Betting $10 to win $100 by picking the Bears, Blackhawks, and Cubs correctly is way more exciting than single bets. Plus, sportsbooks offer tons of options:

• Variety: From White Sox moneylines to Bulls player props, you can mix and match.
• Bonuses: Apps like ESPN BET give parlay-specific promos, like boosted odds for Chicago teams.
• Accessibility: Bet from anywhere in Illinois via mobile apps or visit FanDuel’s United Center book for in-person vibes.