What's a Parlay?
A parlay is a single bet that links together two or more picks (called "legs") — and all of them need to win for the bet to cash.
Think of it like this: betting Iowa to win the moneyline is one thing. But betting Iowa to win AND Iowa State to cover the spread AND the Packers to win? That’s a three-leg parlay. You’re stacking your picks into one ticket for a bigger potential payout.
Example of a 4-Leg Parlay
Let’s say it’s a college football Saturday and the slate looks like this:
- Iowa Hawkeyes moneyline (-160)
- Iowa State Cyclones +6.5 spread
- Over 47.5 total in the Nebraska vs. Wisconsin game
- Northern Iowa Panthers over 24.5
You're making your first parlay and have $10 to wager.
If all three legs hit, your $10 could win $75 or more, depending what the odds are. But if just one leg misses — even by half a point — the whole parlay will lose.
That's what you need to know about parlays: you see a higher reward if all legs hit but the chances of that happening decrease dramatically as you add more legs.
How to Place a Parlay at a Sportsbook
Let’s say you’re betting using Fanatics Sportsbook in Iowa:
- If you haven't already done so, we recommend downloading the sportsbook's mobile app.
- Search for any Iowa sportsbook promos eligible prior putting together your parlay.
- Browse games and start selecting picks — moneylines, spreads, totals, etc.
- Any ineligible legs of your parlay won't be reflected in total odds.
- You’ll see combined odds and a spot to enter your wager.
- Confirm the bet, and you’re good to go.
Most betting apps in Iowa clearly show potential payouts before you hit "place bet," so you know what you’re playing for.
Betting With Parlays in Iowa
Yes, parlays are legal in Iowa.
Yes, you can often parlay many different bets from different leagues and sports together.
Yep — sportsbooks like FanDuel and DraftKings offer "Same Game Parlays," where you can build multiple picks within one game (e.g., Iowa to win + under 42.5 points + 1st half moneyline).
If one leg in your parlay pushes, typically what the sportsbook will do is they'll pull the odds out of that parlay and exclude it. For example, if you have a 5-leg parlay and one pushes, your parlay will continue on as a 4-leg parlay, dropping the pushed leg.
Author
Tyler Olson has lived most of his life in Iowa, working in sports media for over a decade, writing and editing primarily NFL, sports betting, and iGaming content. His primary focus is giving sports bettors the most up-to-date information on legal operators, sharing the latest promo code offerings and analyzing team and player odds bettors can place bets on.