A sports bettor in Florida recorded a win of more than $340,000 last weekend after wagering just $1 on a 20-leg college basketball parlay.
The lucky winner chose only “unders” on all 20 legs of the parlay.
The win became the highest payout in Hard Rock Bet history off a $1 wager. The company said the parlay was a mix of first-half unders and team total unders.
Multi-Leg Parlays Popular With Bettors Despite Odds
The gambler placed the bet on Dec. 6. Hard Rock Bet settled it the following day for a total of $344,902.81.
Some of the matchups in the parlay included Alabama A&M vs. Lipscomb, Belmont vs. Middle Tennessee State, Fullerton vs. Hawaii, Air Force vs. Navy, Missouri vs. Kansas.
The chances of winning these types of bets may be astronomical, but they continue to be popular with players.
Parlays of 10 And 11 Legs Have Paid Off In The Past
In 2022, an auto dealer in Illinois cashed in for $1.2 million on a five-leg parlay off a $30,000 bet on the Georgia Bulldogs football team along with four NFL games. In 2020, a BetMGM customer made a $10 parlay with 11 legs made up mostly of college football games and was rewarded with a $154,341 payout.
The popularity of parlays has been a positive for sportsbooks. According to a recent report, these multi-leg wagers are padding sportsbooks’ bottom lines more so than single bets.
The Wall Street Journal reported in January that 27% of cash wagered in Illinois, New Jersey, and Colorado in 2024 through October came in the form of parlays, an increase of 5% since 2021. However, these wagers accounted for 56% of revenue after payouts, up 6% since 2021.
Photo courtesy of Hard Rock Bet
