A cross-sport parlay is a wager for those bettors who would rather not stick to one sport and understand that a parlay bet offers them the chance to increase their winnings over a series of single bets placed for individual money lines, totals, and point spreads.
If you are not aware what parlay betting is, you should definitely read up on them; but a brief definition here does not hurt at all and it will give you a better understanding of the cross-sport version right on the spot.
A parlay bet is different from a single or straight bet in that it allows you to place one bet on multiple outcomes at one time. Parlays allow you to mix up football teams using your choice of the most basic types of sports betting: money line, totals (over/under) and point spreads. You can pick up to 8 teams with a traditional parlay bet, with one caveat: it is all or nothing. Each of your parley picks has to come out a win or you get nothing. If one of them comes out a push (a tie or the exact total in a totals bet) then you would still get a reduced payout if the other teams are a win (as in an 8 team parlay bet turns into 7). It is a greater risk, but because of that, it is a potential greater profit too.
In terms of getting a higher payout, the parlay takes your win from the first team pick and bets it on the second, takes that win pool and bets it on the third, and so forth. That adds up to a huge overall payout, much bigger than what you would get by placing one football bet at a time for each team.
The cross-sport parlay is offered by some online sportsbooks with similar parlay rules to the traditional format. You get to pick a number of sporting teams to place in one wager for multiple win options, that stays the same. One of the differences, however, is that you can’t do a mix-up in betting types like you can in the single-sport parlay format. You have to choose one bet type, and stick with it.
Perhaps the easiest and most common type of bet to place with a cross-sport parlay is the money line. A money line bet is picking a team to win a specific matchup. So, let us say there is a Lions and Bengals game, you think the Lions are going to win, you place a money line bet on them.
In the cross-sport parlay money line you would be placing a bet on specific sporting teams in different games and different sports. For example, The Detroit Lions (football) to win their weekend game and the Chicago Bulls (basketball) to win theirs.
The same holds true for point spread bets and totals bets. If you are unfamiliar with those, this site offers helpful, easy-to-understand articles on each of them. They are a quick read and a must for anyone looking to make money in the world of sports betting and in the Super Bowl.