What's A Parlay In Sports Betting

After a lengthy wait, Michigan sports betting has launched starting in January of 2021. Sports fans in the Great Lakes State can now join players in other states where betting on games has already been legalized.

1. What Is Parlay Bet
2. What's A Parlay In Sports Betting Results
3. What's A Parlay In Sports Betting Odds
4. Sports Parlay Betting System

A parlay bet is a sports bet that combine multiple straight bet wagers on one ticket. Usually, you would pool straight-up bets with spreads and totals. However, you can have multiple versions of the same bet. Considered “exotic” in the sports betting world – parlays certainly provide entertainment. Parlays are becoming more and more popular. Parlays offer players to get an opportunity to receive a big payout.

Providers always have great promotional offers available when gambling laws open up in a new state. It’s an exciting time for sports fans in Michigan who are sure to see a number of great bonus deals as providers try to set themselves apart from the competition.

But since the industry is so new, players may not know where to go for the best Michigan sports betting. Well, you’ve come to the right place. Read our guide on the best sites and apps for sports betting in Michigan.

Top Michigan Sports Betting Sites

Here are some of the most popular sites and apps for Michigan sports betting. We’ll also look at the benefits each provider has to offer for sports fans in our state.

DraftKings Michigan Sports Betting

You may already know DraftKings for their fantasy sports services. DraftKings sportsbook allows players to get their sports betting services from the same site and app they manage their fantasy sports on.

DraftKings Sportsbook is one of the first providers to arrive in the state after Michigan sports betting was legalized. Check out their website or download their app to take advantage of promotions that will be available during this launch period.

William Hill Michigan Sports Betting

One of the United Kingdom’s top bookies has now opened up for Michigan sports betting. You’ll be able to get odds for both American sports and international events from all over the world.

William Hill had already come to our state when sports betting at physical locations was allowed earlier in 2019. Expect great offers from this provider now that online sportsbook services are available.

BetMGM Michigan Sports Betting

Longtime casino fans may already know MGM for its physical casino locations. Through their online service BetMGM, this well-established provider is also available to sports fans as a virtual sportsbook.

They’ve got great offers to coincide with the start of Michigan sports betting. Check out their insured bet offers, where you’re guaranteed to end up with some cash whether your bet falls through or not. They’ve also got weekly free bet promotions to get you started.

FanDuel Michigan Sports Betting

Another company with its roots in fantasy sports, you may already use FanDuel for managing your daily fantasy sports leagues. Now you can get competitive odds for just about every sporting event through the same website and app.

That sort of convenience is already perfect for players new to Michigan sports betting. They haven’t launched their sportsbook service in the Great Lakes State as of late January 2021. Keep an eye out for some big things from this provider that the state has legalized sports betting.

WynnBET Michigan Sports Betting

WynnBET hasn’t yet launched its services for Michigan sports betting as of January 2021. However, the industry is still quite new. Expect to see more providers offering their services here once there has been time for other Michigan sportsbooks to get up and running.

Barstool Michigan Sports Betting

Barstool Sports is a well-known name among sports betting fans, and it was recently announced that this provider will be coming to the Great Lakes State in late January 2021.

As many providers will be looking to get in on the action of Michigan sports betting, expect to see a generous welcome package from Barstool Sports in order to set themselves apart from the competition.

TwinSpires Michigan Sports Betting

Best known for their focus on horse racing, TwinSpires is launching in our state with a full range of sports offered for Michigan sports betting.

Bettors with a passion for horses will feel right at home here. You’ll be able to place wagers on races from all over the world, with odds updated in real-time to give you the most competitive offers.

Golden Nugget Michigan Sports Betting

Having previously partnered with a physical casino location in the Great Lakes State, Golden Nugget is now ready to join in on the Michigan sports betting launch.

One of the longest-running Vegas casinos, as it opened its doors back in the 1940s, Golden Nugget also has great sports offerings. Pick your winners for any international race or bet on the big NFL game of the weekend through their service.

Rush Street Michigan Sports Betting

Like many of these providers, Rush Street has already been active locally by partnering with a physical casino when in-person Michigan sportsbooks were legalized previously. Now, with the Michigan sports betting industry starting up, they are ready to join in to give players more options.

What really sets Rush Street apart is the social aspect of their games. Not only will you be able to bet on each game, but you’ll also be able to share all the action with your friends when you’re playing with this provider.

Michigan Daily Fantasy Sports

The legalization of betting in Michigan doesn't stop with real-life events. Amendments to the act have also taken into account virtual sports. This means that you can now enjoy daily fantasy sports (DFS) betting too.

In fact, fantasy sports betting in Michigan brought in over $10 million in adjusted revenue for November 2020. This meant that the state collected around $850,000 in tax money from daily fantasy sports betting alone.

DraftKings and FanDuel make up 90% of the fantasy betting market in the USA. Both operators continue their dominance in the Great Lakes state, becoming the two most popular Michigan betting sites for DFS.

No matter how you look at it, the legalization of Michigan sports betting offers more positives than negatives. Not only does the state benefit from the new tax stream, but you can now enjoy your hobby with peace of mind.

Michigan Online Sports Betting: Events and Betting Markets

There are many great Michigan sports teams, both at college and professional level, so it’s no surprise that this State is one of the most sports-crazed in the US. Many of the 10 million residents would welcome legal Michigan online sports betting. Nothing beats a little wager on your team before kicking back and watching the action.

Common Types of Bets

When you join a top sports betting site, you have several options for the types of bets you want to place. Essentially, these can be divided into three main groups, as listed below:

Straight Bets

For new bettors, these are the wagers to start with. A straight bet is a single selection on any market which takes your fancy. You can wager on the money line, total points, or the spread, among many others. Simply pick a selection and put down your stake. If you are correct, you win. The payout is the betting odds multiplied by your stake.

Parlays

These are sometimes called multi bets. If you pick two or more selections, you can create a parlay bet. This is a single stake wager where each selection has to be correct for the bet to payout. The betting odds for each selection are multiplied together and times by your stake to give you the winnings total. Parlays offer fantastic betting value because you can bet with small stakes but win big!

System Bets

Lucky 15, Trixie, Yankee and Canadian are all forms of system bets. Essentially, a system bet is made up of straight bets and parlays. The advantage is that you are not relying on every selection to win to receive a payout. However, the flipside is because you are placing several bets, the stakes can be higher. You cannot calculate an exact payout as you don’t know the result permutations although you can estimate based on your stakes and the betting odds.

Most Popular Sports to Bet On

Michigan online sports betting websites not only allow you to bet on action in the Wolverine State, you can also feast on the best national and international sports, too. To offer a teaser, here are the most popular sports available for betting at BetMGM.

• All US pro sports: NFL, NBA, MLB and NHL
• Soccer
• Tennis
• Golf
• MMA
• Boxing

Popular Michigan Events

As with many US states, the most popular Michigan sports events come from its pro and college teams. Ford Field, Detroit hosted Super Bowl XL, but sadly that game didn’t feature the Lions. The Tigers have delivered four World Series to the State. The same number as the Red Wings have in Stanley Cup victories.

Also, don’t forget the magic of the Pistons and their three NBA Championships. Yet, the University of Michigan football team has the most impressive record. The Wolverines have won a stellar 11 National Championships, and they hold the record for winning the most games in college football.

Betting on Pro Sports Teams in Michigan

Now that you have a firm grasp of the Michigan sports betting market, it's time to look at the area's professional teams. That way, you'll have an edge when opening up a Michigan online sports betting account.

This section focuses on Michigan's favorites in the NFL, NBA, NHL, and MLB. We'll give you an idea of each squad's current form, helping you make an informed decision regarding Michigan sports betting.

NFL Betting in Michigan

In the United States, there is more money placed on NFL matches than any other sport. This trend continues in Michigan, as residents back their local team, the Detroit Lions. Michigan sportsbooks offer a range of betting options such as spreads, moneylines, and futures.

You can participate on your Michigan sports betting app during the off-season, right through to the Super Bowl.

Detroit Lions Betting

The Detroit Lions have struggled this season, much like they did in the previous year. The team now faces a decision as to whether they should replace the head coach, Matt Patricia. Additionally, the club may also cut lose its general manager, Bob Quinn.

Fans have become apathetic with the NFL squad, as the Lions look to have another unfulfilling year. Detroit's chances of reaching the Super Bowl are increasingly unlikely, creating long odds on Michigan sports betting platforms.

If the club manages to sort out their coaching staff woes, there's a chance the Lions change things around. This means players betting in Michigan could see their team rise from the ashes.

NBA Betting in Michigan

The legalization of basketball betting in Michigan has had a positive impact on the sport. What's more, the introduction of live betting gives Michigan sportsbooks an additional, exciting feature. As far as MI sports betting in the NBA goes, the Detroit Pistons assume the top-flight club's role.

Let's take a look at the Pistons and what you can expect from them as far as Michigan sports betting goes.

Detroit Pistons Betting

Unfortunately for MI sports betting fans, the last season saw the Pistons gain the title of the third-worst team in the eastern conference. Furthermore, they had the fifth-worst results in the whole NBA league.

However, there's a bit of hope for Michigan sports betting enthusiasts for the next season. Players like Bruce Brown, Luke Kennard, and Christian Wood show promise. The club will need to ensure it doesn't lose these players to contract renewals.

NHL Betting in Michigan

Thanks to the amendments to Michigan online sports betting's legal status, experts expect a boom in NHL wagers. You have the opportunity to stake money on parlay bets, futures, moneylines and more on Michigan sportsbooks.

Another exciting prospect is the release of Michigan sports betting apps. This new addition gives you the chance to wager on Detroit Red Wings matches. Let's take a look at what you can expect from the eleven-time Stanley Cup Champions.

Detroit Red Wings Betting

The Detroit Red Wings were one of the six original NHL clubs when the league started. Since that time, the club has achieved greatness in the eyes of many ice hockey fans. The squad competes in the Eastern Conference division and is one of the most popular outfits in the league.

It's been a few years since the Red Wings rose to greatness, and like other Detroit teams, have struggled in recent seasons. Yet, they still possess the ability to surprise even the most informed betting expert.

When it comes to Michigan sports betting in the NHL, you'll notice a few differences compared to NFL games. For starters, the points scored in hockey games are significantly lower. Due to this fact, you'll see MI sports betting types like puck line, which has lower margins.

A popular type of NHL wager at Michigan betting sites is over/under. This is a solid bet if you don't want to predict the winner of a game. Instead, you can stake money on the total number of goals scored. That way, you can still back the Red Wings on your Michigan sports betting app even if they struggle to win a game.

MLB Betting in Michigan

Another league expected to benefit from the legalization of Michigan online sports betting is Major League Baseball (MLB). Enthusiastic bettors can stake money on the Detroit Tigers at licensed Michigan betting sites.

You can only wager on professional and amateur baseball matches. This means that betting on youth and high school games remains illegal. In any case, Michigan sports betting for the MLB is similar to the other leagues.

You'll find over/under, point spreads, and moneyline bets on Michigan sportsbooks. On top of that, Michigan online sports betting sites display their odds in the American format. To calculate your potential winnings, divide the odds by 100, then times that amount by how much you plan to stake.

Detroit Tigers Betting

When it comes to Michigan sports betting, you could say the Detroit Tigers have made the biggest splash. The MLB team became the first club to announce a partnership with a Michigan betting site.

The announcement came in July 2020 and allowed PointsBet to offer exclusive wagering options to fans betting in Michigan. Additionally, the Tigers fans can also use the exciting future options listed on Michigan sports betting apps. Examples of these wagers include who will hit the most home runs and the MVP of an upcoming game.

Other Michigan Teams to Bet On

It's not only professional sports leagues that you can stake real money on. You also have the option of placing wagers on college leagues for MI sports betting. In this section, we take you through some of the Michigan sports betting opportunities for college teams.

Betting on College Football in Michigan

If it's college football you're after, you'll find Michigan sports betting odds for the Wolves.

Michigan Wolves

The Michigan Wolves are currently sixth in their division, winning one of their four games so far. Like the Lions, you'll find favorable odds at Michigan betting sites in the over/under market. Plus, with the use of Michigan sports betting apps, you won't have to miss a thing.

Betting on College Basketball in Michigan

Another college team to look out for at Michigan sportsbooks this year are the Wolverines.

Michigan Wolverines

The Wolverines finished ninth in the Big Ten league last season, and Michigan online sports betting platforms expect more from the team this year. The basketball team begins their new season by taking on Bowling Green on the 25th of November.

You can place your predictions at a licensed Michigan sportsbook before the season starts. Additionally, when Michigan sports betting apps release, you can place your wagers on the go.

What Is Parlay Bet

Michigan Betting Laws

Before diving into Michigan betting sites and teams to look out for, it helps to understand this hobby's legality. After all, the last thing you want to do is break the law. So when did it become legal to participate in Michigan sports betting?

In 1992, the United States outlawed betting except for select states such as Oregon, Delaware, and Montana. This was a result of the Professional and Amateur Sports Protection Act (PASPA), also known as the Bradley Act.

However, in 2018, the Supreme Court ruled that parts of PASPA were unconstitutional. This ruling allowed each state to decide for themselves whether or not sports betting should become legal. Since that time, we've seen many states like New Jersey and Pennsylvania change their gambling laws.

What's A Parlay In Sports Betting Results

Not all states have legalized the hobby, and many still need to review their options. Michigan sports betting, which only became legal in March of 2020. Governor Gretchen Whitmer signed gambling bills passed by the state legislature legalizing Michigan online sports betting, online casinos, and poker.

At this time, only the 23 tribal casinos, Detroit casinos, and existing Michigan betting sites can apply for gambling licenses. These permits need to go through the Michigan Gaming Control Board (MBCB). This ensures that Michigan sportsbooks adhere to the regulations set out by the authority.

The laws state that all MI sports betting operators must pay an 8% tax on their revenue. Plus, the three leading land-based casinos in Detroit must also pay an additional city tax of 1.25%. These financial terms will help the state's economy as well as regulate the industry fairly for all parties involved.

Furthermore, only players over the age of 21 can participate in Michigan sportsbooks. If you're over the age limit, you can place a bet at a Michigan sportsbook from anywhere within the borders of the state. What's more, you don't need to register at a land-based casino. Instead, you can simply create an account online.

Michigan Online Sports Betting FAQ

Here’s a quick reference for some common questions you may have about Michigan sports betting.

Is betting on sports in Michigan legal?