A major shift in betting habits has taken place among NFL bettors in the United States over the past five years, with parlay bets now dominating the market. New research analyzing 547 million NFL wagers between 2018 and 2023 shows that parlays have grown from about a third of all bets to nearly three-quarters, reflecting changes not only among new bettors but also among existing customers.
Parlays Overtake Single-Leg Bets
In 2018, single-leg bets accounted for roughly two-thirds of NFL wagers at a leading U.S. sportsbook. By 2023, the situation had reversed: parlays, including traditional and same-game parlays, made up over 72% of all bets. The research, published in Finance Research Letters, found that the share of bets placed as parlays rose by nearly 39 percentage points over the period. Notably, the increase was not solely due to new customers; existing bettors also shifted toward multi-leg betting options.
Promotions and Product Changes Contribute to Growth
A companion study in the Journal of Gambling Studies examined the potential influence of sportsbook promotions. Researchers found that the introduction of bonuses, free bets, and profit boosts coincided with a higher proportion of parlay wagers. However, the data indicated that even after removing promotional bets, parlay use remained significantly higher than in earlier years, suggesting that factors beyond promotions were at play.
Alongside promotions, advances in sportsbook app design made it easier for users to build and find parlays. The rise of same-game parlays and the addition of player props expanded the markets bettors could combine, while apps increasingly featured ready-made parlays on home screens and game pages.
Why This Matters for Industry Stakeholders
The shift toward parlay betting has direct implications for operators, affiliates, and suppliers. For operators, parlays typically offer higher margins compared to single-leg bets, making them a profitable product. Affiliates and content providers may need to adjust their marketing and educational efforts to reflect bettors' growing interest in multi-leg wagers. Suppliers developing sportsbook platforms and tools can focus on features that simplify parlay creation and promote relevant markets to engaged users.
Drivers Behind Changing Bettor Behavior
Experts suggest that as bettors become more familiar with sports betting, they may be drawn to parlays for the chance of larger payouts from smaller stakes—a dynamic similar to slot jackpots or long-shot racetrack bets. The spread of legal sports betting since 2018 has introduced many new bettors to the market, who often start with single bets before exploring more complex options like parlays. The combination of product innovation, targeted promotions, and user-friendly app interfaces appears to have accelerated this shift.
Key takeaways
- Parlays now account for nearly three-quarters of NFL bets at major U.S. sportsbooks, up from one-third in 2018.
- Existing bettors, not just new customers, are increasingly choosing parlays over single-leg bets.
- Promotions and easier app interfaces have contributed to the growth, but do not fully explain the trend.
- The shift has significant implications for sportsbook operators, affiliates, and suppliers.