Horse racing betting site Xpressbet has announced it is now accepting parlay wagers on select tracks. Santa Anita and Del Mar race tracks in California added parlay wagers to the menu earlier this year and now Xpressbet has joined the action. Xpressbet customers can place parlays for races held at both racetracks online, through the mobile app or via telephone.
The new Xpressbet parlays allow customers to combine bets on multiple races into a single, multi-leg wager even if those races are not ordered sequentially on the card. Customers may combine win, place and show wagers in a single parlay and may even select multiple horses on any leg of the parlay.
In a post announcing the new wagers, Xpressbet said it plans to add parlay wagering options for more tracks in the future.
How Horse Parlays Work
The Xpressbet parlays allow you to combine anywhere from two to six individual horse wagers into one big bet. The basic idea is the winnings from each wager automatically roll over to the next wager in your parlay, allowing you to book very large wins.
For most players, the biggest upside is the potential to score a large payout from a single, smaller wager. Even a simple $10 parlay consisting only of show bets can turn into a major payout as the winnings from each show bet automatically move to the next show bet on your ticket.
The big downside is that a single losing leg will kill your entire parlay. With 100% of your winnings rolling over to the next leg every time, you need to get every bet on your parlay correct in order to score your payout. The good thing is your losses are limited only to your original bet.
Additionally, parlays allow you to mix and match bet types throughout your parlay. If you want to make a show bet for a horse in one race and a win bet for another horse in a different race, you’re free to do so. In this way, you can adjust your parlays based on how confident you are on every horse.
It’s true you could always just roll your winnings over manually, but only parlay wagers make it possible to roll over 100% of your winnings into the next bet – even the pennies. Plus, once you set a parlay, you can let it ride the rest of the day without having to hang around all day and ensure you’re always there to move the winnings over from one race to the next.
Here’s an example of how a parlay works at Xpressbet. This example is made up of fictional races, but shows the basic idea in action.
$10 Parlay at Del Mar
You make the following bets on a $10 parlay:
- Race 1: Win bet on horse 1
- Race 2: Place bet on horse 3
- Race 3: Show bet on horses 2 and 4
If your chosen horse wins race 1 and pays $28, your winnings automatically roll over to the second race to give you a $28 place bet on horse 3. If that horse places for a payout of $94.50, your winnings are automatically rolled over to race 3 such that you have two equal show bets of $47.25 on horses 2 and 4. If both horses show as predicted, the sum of payouts for those two horses is the final payout of your parlay.
Here’s a screenshot from the Xpressbet website showing what parlays look like on the betting platform:
If any of your horses scratch in the middle of your parlay, that leg is considered a refund and the current balance is rolled over to the next leg on your parlay. If any of your legs involves multiple horses and one of those horses scratch, the money you had riding on that horse is automatically moved to the horses that are still running.