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A parlay bet is a popular wagering option in sports betting that combines multiple individual bets into one single bet. To win a parlay, all selections must be correct, which makes it riskier but potentially more rewarding than placing separate bets. The allure of a parlay lies in its ability to offer higher payouts, as the odds of each bet multiply together. However, the increased difficulty in winning means that while the potential for profit is significant, the chances of losing are also higher, making it a thrilling yet challenging betting strategy.

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