Curious about different types of wagers you can place in a sportsbook? Let’s take some time on the most popular ones. Ever heard of a Parlay before? A parlay refers to a single bet that links more than two wagers. For your bet to be successful, you need to win all the wagers in the parlay. If you lose one wager, the entire bet is lost. However, if you win the bet, the payoff is usually better than that of a player that placed the bets separately.