After mastering the single bet, many gamers enjoy moving on to more intricate bets, such as the parlay. The latter is a highly popular choice among NFL bettors, as it can significantly increase the day's potential payouts. The parlay bet involves betting on up to 12 or more outcomes, rather than wagering on the outcome of a single event or game.

The two-team parlay is a good example for those who want to build a foundation of knowledge about parlay betting. Individuals can wager on a specific team or bet totals. For example, a bettor can take the Eagles in their game against the Redskins, but also take over 46 for the same event. One can compare this with two single $11 bets to see the monetary advantage: if both outcomes favored the bettor, he or she would have a net gain of $20. However, if the two wagers are parlayed, the payout is multiplied by a set rate. This particular example would net the bettor over $35 profit. 

The payouts of parlay bets are multiplied by a higher number for every team added to the combination. For example, a parlay involving three teams pays out approximately 6/1, while those lucky enough to win a full, 12 team parlay would receive massive payouts, coming in at more than 2340/1. The risk of a 12 team parlay, however, is that even if 11 of the 12 picks are correct, the bettor still loses. For this reason, most serious handicappers stick with standard two team parlay's and frequently combine the total in the spread from the same game as in the aforementioned example. As most prospective bettors can see, when betting on NFL it is equally important to thoroughly understand risk management as it is to understand the game itself.