Sportsbooks Will Usually Have Caps on Amounts That They Pay Out

Published on October 31st, 2020 9:39 am EST
Written By: Dave Manuel

It is important to read the fine print before dreaming of a big parlay bet hit. It's the dream of every bettor around the world.

You put some money on a massive parlay bet and it hits. You are a millionaire! Your $50 bet turns into $5 million. You are retired, off to enjoy the good life.

Unfortunately, things don't really work like this, especially at online sportsbooks.

If you put money down on a parlay with a massive payoff at an online sportsbook, you would do well to read their Terms and Conditions first.

In most cases (if not all), sportsbooks will have a limit on the amount that they pay out on a winning bet.

Even if your bet is accepted by the sportsbook (and it usually will be), sportsbooks have language included in their Terms and Conditions that will likely limit the amount that they will have to pay out.

So, even if your bet SAYS that it will pay out at $5 million, that doesn't mean that the sportsbook will actually pay out that much.

In fact, the upper limits of payouts are usually something like $100,000 on parlay wagers.

If you are putting down a large amount of money on a straight wager, this is a different story. So, if you put down $1 million on the winner of the US election, the sportsbook, if reputable, will almost surely pay you out what you are owed.

Big parlay payouts, however, are usually a different story.

Make sure that you read the Terms and Conditions beforehand.

Sure, $100,000 would still be a very nice payout, but you may not get as much money as you were hoping for if your miracle parlay wager does hit.

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