Same-game parlays (SGP) bring bigger risks, bigger rewards and more traffic to some of the most well-known sports betting operators in Iowa.
The concept has been especially successful at FanDuel.
FanDuel spokesperson Emily Bass said SGPs give customers a chance to combine multiple bets from one matchup or team into a single parlay for a potentially bigger win:
“For example, if you think your favorite team is going to dominate their next matchup — bet on them to win, the total to go over, and their point guard to score 10+ points — all in one parlay. If each of your parlay legs hits, you’ll win more than if you placed each bet separately. But if you miss just one leg, you’ll lose the parlay.”
Which Iowa sportsbooks offer same-game parlays?
Bass said same-game parlays are “incredibly popular” at FanDuel, especially with NBA, MLB and NFL betting.
FanDuel in Iowa was among the sports betting revenue leaders for July. Though its parlay action is proven to be the reason behind the FanDuel lead in other legal sports betting states, the Iowa Racing and Gaming Commission’s report doesn’t offer enough detail to know how much the feature helped FanDuel in Iowa.
Bass told PlayIA:
“We were first to market with same-game parlays and one of the few operators with a same-game parlay product available in the market. More than half of our customers are using that product now.”
DraftKings in Iowa introduced same-game parlays on Aug. 5.
The operator directs customers to a “+SGP” icon in the top-left corner of the site. The sportsbook then guides customers to toggle the “Same Game Parlay” switch to “on.” That should make all available bets appear. Customers can start combining multiple bets from one game. Adding legs will increase the risk and the potential payout.
PointsBet in Iowa also offers the single-game parlay product. The sportsbook even offers single-game parlay insurance for bets on baseball. It gives customers a potential $25 bonus bet if one leg of the parlay fails.
Can same-game parlays help IA sportsbooks gain on Caesars?
Almost 90% of betting customers in Iowa choose to bet online, where they can access multiple bet types, including parlay wagers.
According to the latest sports betting numbers from the IRGC, Caesars Sportsbook is the online leader for sports betting. The operator took in $28.7 million for 36.8% of the online handle in July.
Caesars is followed by four sportsbooks in the Hawkeye State that offer single-game or same-game parlays:
- DraftKings: $23.5 million for 30.1% of the online handle
- FanDuel: $12.1 million for 15.5% of the online handle
- BetMGM: $6.3 million for 8.1% of the online handle
- PointsBet: $2.3 million for 3% of the online handle