What Is A Jackpot Parlay?

November 14, 2018

The sportsbook operators in New Jersey are offering new and unique sports wagering opportunities for sports bettors. SugarHouse is the only sportsbook that offers a Jackpot Parlay. This parlay bet is not a sharp wager but it can be a fun way to bet a few dollars with the possibility of a large jackpot win.

Placing A Jackpot Parlay Bet

The Jackpot Parlay from SugarHouse is essentially a quick-pick- style parlay. On the surface, this appears to be a lottery-style sports bet. In it’s simplest form, a bettor will click on the Jackpot Parlay feature artwork and SugarHouse will give the player an eight-team parlay.

The Jackpot Parlay ticket will show the potential jackpot winning price if all events and players selected for the parlay win. The last step for the bettor to make a Jackpot Parlay is to choose the amount they want to wager and click “place bet.”

Playing the Jackpot Parlay can be that simple. For better or worse, there’s very little thinking necessary for this bet. While Jackpot Parlay is mainly a quick pick style wager, SugarHouse does give the bettors some options. There can be a bit of strategy involved with the Jackpot Parlay if the bettor chooses.

Flexible Parlay Options

Jackpot Parlay can be a flexible wager. This isn’t a fixed bet so gamblers have some options. The bettor may select which sport they’d like to wager on and how many games they’d like to include in the parlay (minimum of three teams). Bettors also choose how much they want to wager. The minimum Jackpot Parlay wager is $0.10.

If the bettor doesn’t like the events or players SugarHouse chooses they can re-pick and see if there’s a parlay combination that’s more appealing. The bettor may even hold certain games and re-pick other games if they don’t like the Jackpot Parlay picks.

There’s even flexibility in how long the Jackpot Parlay will take. Bettors can choose only live events happening while the bet is placed. They can also select a specific timeframe up to 24 hours for the events taking place. The latter option will give a larger pool of events for the parlay.

Even though this is a big jackpot wager, the bettor may select favorites which pay less than underdogs. Similar to quick pick lottery tickets a bettor may play multiple Jackpot Parlays at the same time.

Parlay Betting

Winning a single sports bet is difficult. Winning more than one game is exponentially more difficult. Nevada casinos win more than 30% of the parlays placed made every year. For comparison, they win about 7% of wagers made on an individual game.

While the odds for Jackpot Parlay odds are long they’re the same that a bettor would receive if creating the parlay themselves.

Who Should Play Jackpot Parlay?

The SugarHouse Jackpot Parlay is geared towards recreational bettors. The minimum wager for this parlay is just 10 cents. Low rollers can also place Jackpot Parlay wagers for 50 cents and a dollar.

The quick pick process takes the work of handicapping games out of the equation. It’s unheard of for serious sports bettors to risk money without spending time researching the games. That said, this wager can be fun for a sports fan that wants to have some money on the line while watching the games.