Definition of Parlay Bonus

What does the term "parlay bonus" mean in the world of sports betting? What is meant by a "parlay bonus"?

The sports betting term Parlay Bonus is explained in this article.  In the picture is a hockey player taking a slap shot.In an effort to win over North American gamblers, some sportsbooks have taken to offering something that is called a "parlay bonus".

These bonuses are usually just available to new customers for a certain period of time.

Here is how it works:

If you qualify for the bonus, your sportsbook will give you an extra bonus if you win your parlay, assuming that you place bets that qualify.

These bonuses usually require you to:

1) Place bets on sports that appeal to North Americans (NBA, NHL, NFL, etc)
2) Place bets on certain 2-way markets (spread, run line, etc)

If you do that and you qualify for the promotion, your sportsbook may pay you an additional bonus if you win your parlay.

Here is how much one popular sportsbook pays for their parlay bonus:

2-Team Parlay - 5%
3-Team Parlay - 10%
4-Team Parlay - 15%
5-Team Parlay - 20%
6-Team Parlay - 25%
7-Team Parlay - 30%
8-Team Parlay - 35%
9-Team Parlay - 40%
10-Team Parlay - 45%
11-Team Parlay - 50%
12-Team Parlay - 55%
13-Team Parlay - 60%
14-Team Parlay - 70%

There is usually a limit on the amount that the sportsbook will pay out for the bonus.

So, for instance, if you hit a big 10-team parlay and take home $10,000 in profit, this sportsbook would pay you an additional $4,500.