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Open Parlay Betting

In our continuing series of looking at sports wagering options and their rules, we turn our focus to the Open-Parlay.

Earlier we covered the sports betting wagering option known as the parlay. A parlay is a bet made up of a combination of two or more betting selections, all of which have to be correctly predicted to win the bet. This type of wager allows for a small amount of risk for a big payday.

The Open Parlay is an offshoot of the parlay.

Basically the Open-Parlay is a regular parlay with one end of the parlay left open. The sports bettor can leave it open and fill the parlay with a game when they find one that they like.

The sports bettor may choose to leave one or more selections in a parlay "open” and fill in the spots on that parlay if it is still pending (no losing selections).

Certain sports books have restrictions when completing an open-parlay. For example a sports book may say that when creating a parlay that will be left open at least 50 percent of the parlay must be filled at the time of the wager. Once the wager is placed as long as 50 percent is filled the remaining positions can be left open, to be filled at a later date.

However, many sports books believe that open spots can be filled one by one or all at once, there is no expiration time frame on open parlays as long as there are no losing selections on your bet. 

The number of teams that can be included in a parlay is also dependent sports books. Open-parlays may have up to a maximum of 24 open spots, depending on how many places your sports book will allow.

The open-parlay adds another dimension to betting on parlays which can be taken advantage of if done correctly.

More On Parlays:

  • Parlays - The parlay allows for the sports betting fan to lay a small amount with the chance to get back a big return
  • Multi-Chance Parlays - A Multi-Chance Parlay works much the same way as a Progressive Teaser. However, the payouts do not increase with more correct selections.
  • Progressive Parlays - A Progressive Parlay, there is a consolation payout for having wrong selections included in the parlay
  • Second Chance Parlays - Second Chance Parlays, are parlays where the Sports book is willing to forgive a certain amount of losing picks in the parlay