Parlay bets are higher risk but higher reward bets (read: lucrative). Also known as an accumulator or multi, a parlay refers to a bet containing multiple single bet selections. The odds of each leg are multiplied; however, each leg must be correct for the bet to be a winner. There has to be a minimum of two legs in your bet for it to be classified as a parlay. The maximum number of legs in a parlay is dependent on the sportsbook you are placing the bet with.