What is parlay definition?

A parlay, also known as an accumulator or combo bet, is a type of sports or gambling bet where multiple individual wagers are combined into one single bet. The bettor chooses two or more teams or events and predicts the outcome of each one. The winnings increase with each successful prediction, but if any of the predictions is incorrect, the entire bet loses. This type of bet offers the potential for higher payouts than individual bets, but it also involves a higher level of risk. Additionally, the odds of winning a parlay bet are lower than for individual bets, since all of the individual predictions must be correct in order to win.