What is define parlay?

A parlay is a type of sports betting in which two or more individual wagers are combined into one larger bet. The idea is that by combining multiple bets together, a bettor can increase the potential payout while risking the same amount of money as they would for a single bet. For example, a bettor might place a parlay bet that includes the outcome of two football games, along with the total number of points scored in each game. If both games and the point totals are correct, the bettor would win the parlay bet, and the payout would be higher than if each bet was placed individually. However, if any of the individual bets in the parlay are incorrect, the entire bet is considered a loss.