How to Bet On Parlays and Win With the promise of a high return for a relatively small stake, Parlays are an attractive proposition to the gambler. Unfortunately, Parlay betting can often be the least profitable form of sports betting. Sportsbooks push these bets hard, and often make them the focus of promotions and offers, as in many cases they will be extremely profitable. Fortunately, there are ways in which you can bet Parlays successfully. This article outlines why this type of bet is attractive for the books and not the bettors – then gives you tips to get the best from your own Parlay bets . Why Sportsbooks Push Parlays Consider an average gambler who wants to bet against the spread and decides to wager a three team Parlay.