At BetMGM, when your parlay doesn’t hit, parlay insurance is a good way to earn back some of your stake via Bonus Bets.
What’s Parlay Insurance?
Parlay insurance is a concession for some (or all) of your losses by returning your stake in the form of Bonus Bets.
BetMGM’s most common type of parlay insurance is Same Game Parlay Insurance. Here’s how it works:
Perhaps you wagered $25 on a four-leg NFL parlay with the following bets:
- Chiefs moneyline: -300
- Eagles moneyline: -250
- Ravens vs. Steelers: Over 37.5 (-110)
- Aaron Jones rushing yards: Over 68.5 (-110)
If all four legs hit, you’d win $170.09, a profit of $145.09 on just $25.
But, with a Same Game Parlay Insurance that returns your stake up to $25, even if one leg misses, your entire stake is refunded (in Bonus Bets). Without the insurance, you wouldn’t receive anything if one leg missed.
If you earn a Bonus Bet from Same Game Parlay Insurance or another BetMGM promotion, you’ll see the Bonus Bet balance in your account.
You could, for example, use the $25 on an NFL moneyline bet, NBA prop bet, NHL parlay, or other odds. Or you could use a partial amount – e.g., $5 – on an NFL prop bet for Patrick Mahomes passing yards and the remaining amount ($20) one week later on a Boston Bruins moneyline bet.
Log in to your BetMGM account – or sign up for a new account and take advantage of welcome offers – to view all available promotions, Bonus Bet balance, updated odds, and more.