Are parlay bets a good strategy?

Parlays are the sportsbook's best friend — the house edge compounds with each leg. A 2-leg parlay has roughly 10% house edge; a 5-leg parlay can exceed 30%. Correlated parlays (where one outcome increases the likelihood of another) can offer value, but most recreational parlays are -EV. Stick to straight bets for consistent, long-term profitability.