If you're already a sports betting fan, there's a big chance you've heard about parlays. Of course, just because you're familiar with the term doesn't necessarily mean you're an expert. Do you find yourself smiling and nodding when your friends talk parlay? Well it's time to stop that right now. We don't mean smiling. It's nice to smile. We mean it's time to stop feigning understanding. Because after your read this article all about parlays for beginners, you're going to know enough to place a few bets yourself and see what all the fuss is about.

1. A single bet made up of multiple selections

That's the main thing to know about parlays for beginners. Even though you're deciding on several different things, when you combine them into a parlay, it's a single bet. That means you're counting on all of those things to happen in order for your bet to come in.

2. Accumulator = Acca = Parlay

All of those terms mean the same thing. Accumulators and accas are terms used predominantly in the UK and Ireland, whereas parlay is the term you'll most often see in the United States and Canada. But all those terms essentially mean the same thing.

3. Bigger risks mean bigger payouts

When you're thinking about parlays, it doesn't take a genius to work out that it's less likely that all of your selections of your bet come through versus a single selection. That makes it riskier than a regular bet, for sure. But with risks come benefits. Parlays have higher odds and, therefore, higher payouts, than regular bets. So you're rewarded for taking a punt.

4. You can minimize risks with each-way parlays

In certain sportsbooks and in certain sports, it's possible to mitigate the risk somewhat. You can do this by placing each-way parlays. You're betting on two separate outcomes, for example that your horse will win or place, so that means your stake is doubled too. But the benefit of this is that if either thing happens, it counts towards a successful parlay.

5. A same game multiple is not the same as an parlay

A lot of sports sites also offer a type of wager called a same game multiple. This is several selections on a single bet too, a lot like an accumulator you might think. But parlays are based on several different events, not one. So these are two separate types of bets.

6. Each selection in a parlay is called a fold

When you're talking about how many selections you've made in a parlay, each one is called a fold. When it comes to parlays for beginners, this is an important term to know so you don't sound like a total newbie. For example, if you've made eight selections in a parlay, it's called an eight folds parlay.

7. Parlays are made up of between four and 20 folds

In order to place a true parlay, you have to choose a minimum of four selections. The maximum number of selections, or folds, varies per site but if you're wagering on a decent sportsbook, you should be able to make up to 20 selections.

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