To summarize, parlay betting is wagering on the outcome of two or more sporting events, where each of the event must be a winner in order for the punter to collect on the bet.

 Let's do some basic math and compare the winnings of three single soccer bets to that of just one parlay bet. Let's say you have decided to bet on three Premier League soccer games and you have chosen the outcome of all three games to be a victory for the home team. To make the math much easier, we will assume that all home team victories would pay out on 1.50 odds. We have also chosen to bet €10 on each game and all of the three soccer games finish as winners for us.

 If we placed three separate bets on every soccer game, we would have wagered the total of €30 and got back €45 by winning all three bets 3x(10x1.50)=45, pretty simple and straight forward. Now, let's say that instead of betting singles, we went with a parlay bet and wagered the entire €30 on that parlay. If all the games came out as planned, we would have won the whopping €101.25, 30x(3x1.50)=101.25, since in parlay betting the winnings are calculated by multiplying the odds by each other and then by the money wagered. As you can see by simply choosing the parlay bet we have more than doubled our return, as compared to placing three single bets.

 Of course, the risk is also much higher than it would be with a single bet. As we said earlier, the parlay wager would be a winner only when all games part of the parlay are winners, i.e. if one of the three games don't go as planned, we would have lost the entire amount. But mathematically speaking, the parlay betting is a much better way to win big while wagering small on the soccer matches.