Anything won from that bet is then transferred over to become the stake for the second bet, and so on. An initial wager is placed for the first bet in a series of bets.

What a player is essentially doing is betting on several events on the same ticket or card. Confused? Perhaps we can explain online parlay betting in simpler terms for you: Before you can start placing sports parlay wagers, you need the answer to a very simple question – how does a parlay work? Parlay is a North American term which means a series of cumulative bets where the winnings are accrued from each bet and used as stakes for further bets on the same ticket.