What is parlay insurance and why is it important?

You can see an ice hockey stick

You can see an ice hockey stick It´s a wager that carries with it a ton of excitement, based on the potential to win more than one would if they simply placed a straight wager on an event. However, parlays can be difficult to win given that every leg of the parlay has to win in order for the bet to be successful. Bettors at some sites can take solace in the fact that a losing parlay bet can result in a push at some online sports betting sites, with Canadian sports bettors able to take advantage of parlay insurance in some cases. Parlay insurance is an interesting term, as it is obvious that bettors aren’t able to go to an insurance company and actually insure their parlay against losses. But sportsbooks are offering as close to that option as possible in some cases. The books that offer this tend to do so by reimbursing a player’s risked funds in the event that one leg of a parlay doesn’t come through for them.

Pros
  • Interesting promotions for all players
  • More than 30 sports available
  • Fast deposits & withdrawals
  • Experienced bookmaker from England
Cons
  • Politics betting could be expanded
100%
100% Welcome bonus

What is parlay insurance?

What is nice about this is the fact that a bettor doesn’t need to have a perfect parlay to get their money back. It is also a nice consolation given that there aren’t many worse feelings than losing a big parlay bet by just one leg. While the grief of just barely missing out on the parlay payout would still be there with parlay insurance, the insurance aspect of this feature at least makes it so the parlay didn’t lose entirely.

Pros
  • Interesting promotions for all players
  • More than 30 sports available
  • Fast deposits & withdrawals
  • Experienced bookmaker from England
Cons
  • Politics betting could be expanded
100%
100% Welcome bonus

Tips for using parlay insurance

At the top of the list of pieces of advice for using parlay insurance is to avoid placing too many parlay wagers just because that feature exists. Parlay insurance is undeniably a great benefit in the event that one leg of a parlay bet is a loser, but bettors should be careful with it. Placing too many parlays can result in reduced odds of winning money in the long run, not to mention the fact that bettors aren’t guaranteed to have only one leg come up short in a parlay.

Also, bettors should be sure to check the terms and conditions of the parlay insurance program that their chosen sportsbook offers. Some sites require bettors to place a parlay with a certain number of legs in it for them to be able to utilize the promotion. It’s much harder to have only one losing leg on a parlay when you have a six leg bet open against a two leg bet, for example.

And bettors should be careful with the number of legs that they put into their parlays no matter what. They might need a certain number of legs to be insured, but bettors should be working to only include the best possible selections in parlays or straight bets to avoid running the risk of losing on a long term basis. To find bookmakers that offer parlays and the potential for parlay insurance, check out these sportsbook sites.

Best bonus offerBookmakerBonusDetailsMin. oddsDurationTo the website
Claim C$1000

100% first deposit bonus
New players only.
Opt-in required.
10x wagering at odds of 1,75+.
Card or Paypal deposits.
Visit site

The Bodog logoC$200Deposit bonus--Visit site
The new Neobet logoC$100Deposit bonus--Visit site
888 Sport New LogoC$30C$30 Free bet-30 DaysVisit site
Royal Panda Sports logo_newC$20C$20 Free bet2-Visit site