| Company | Parlay Insurance | Action | |||
|---|---|---|---|---|---|
Parlay Insurance
Get Up to $25 Back on DraftKings |
T&C applied
Get $150 in Bonus Bets Instantly After Your First Real Money $5 Wager 21+. New customers only. Offer available in AZ/CO/CT/IL/IN/IA/KS/KY/LA/MD/MI/NJ/ NY/OH/PA/TN/VA/VT/WV/WY. Different offer available in NC. Minimum $5 deposit, and minimum $5 qualifying wager. Bonus Bets will be awarded instantly upon bet placement. Bonus bets will be paid as six (6) $25 non-withdrawable Bonus Bets. One qualifying bet per customer. Bonus bets expire 7 days after being awarded. See full T&C at DraftKings. | ||||
DraftKings Parlay Insurance Overview
Existing DraftKings customers can enjoy protection on their bets.
The DraftKings Parlay Insurance applies to:
- The Traditional Parlays
- Same Game Parlays
The Parlay insurance ensures that bettors do not lose their money if only one leg of their parlay costs them the bets.
In essence, this means that your original stake will be returned as long as you meet all the requirements which means all but one of your four selections is settled as won.
How to Place a bet with Parlay Insurance
To place a bet using the Parlay Insurance on DraftKings is simple, but it can be tricky if you are new to sports betting or green on DraftKings.
You can follow the step-by-step guide below to place a parlay bet using the parlay insurance feature.
To do this, you have to opt into a ‘parlay insurance’. And to apply to apply the offer to your wager do the following:
- Make your selections and add them to your bet slip.
- Go to the ‘Apply Reward’ section on the bet slip, and select the ‘Parlay Insurance’ you wish to add to your bet.
- Return to your bet slip with the applied offer listed below your parlay selection.
- Input the wager amount.
- Confirm if Parlay Insurance is successfully added to your parlay bets in the ‘My Bets’ tab.
DraftKings Parlay Insurance Rewards
The reward for a failed traditional parlay or same game parlay is getting the stake back, and it is capped at $25.
After the settlement of your parlay bet which is also known as the qualifying bet for the Parlay insurance, you will be awarded a bonus bet if you cut.
This means that all the legs must be settled as won except one selection to be considered for bonus bets.
Needless to say, all the events whether in the traditional parlay or same game parlay must be settled before the bonus bets are awarded.
How Does the DraftKings Parlay Insurance Work?
Parlay insurances are generally designed to compensate bettors who lose their parlay bets by one leg. The DraftKings Parlay Insurance follows this principle too.
As stated earlier, the DraftKings Parlay Insurance applies to only traditional parlays and same game parlays.
For a bet to be eligible for the DraftKings Parlay Insurance, the parlay must contain a minimum of selections, and all the selections except have to be settled as won to qualify.
In other words, if all the selection in your parlay is marked as won, the bet will not be eligible for a returned stake.
To cap it up, a minimum of four selections must be made for both the traditional and same game parlay and all but one of the selections must be won to get your stake back.
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Is the DraftKings Parlay Insurance Worth It?
The chances of winning parlays are slim to the mill, and those who love to place parlay bets can find some level of protection for their wagers with the DraftKings parlay insurance.
With the reward being a stakeback reward up to $25, there is no reason not to take the risk. If you lose your parlay, you will be sure of getting your stake when you get close enough but thwarted by one leg.
Are there Exclusions from the DraftKings Parlay Insurance?
The DraftKings Parlay Insurance does not apply to all her types. As we have stated in this article, only traditional and same game parlay bets qualify for the DraftKings parlay insurance.
So, why are the bet types excluded from benefiting from the DraftKings parlay insurance? Here is a list of bet types excluded from the DraftKings parlay insurance:
- Same Game Parlay Extra
- Bets placed with odds boosts
- Bets placed with profit boosts
- Bets placed with bonus bets
- Voided bets
- Cashed out bets
Secure Your Parlay Bets
Now that you know about DraftKings Parlay Insurance, the onus is on you to protect your parlay bets.
Click on the button below to get started.
DraftKings Parlay Insurance FAQs
Yes. DraftKings offers player insurance to existing players.
Sign up on DraftKings, and place a traditional or SGP with a minimum of four selections. If the parlay fails by one leg, you will qualify for the parlay insurance.
Traditional parlays and same game parlays.
The reward is a maximum of $25 stake back.
The DraftKings minimum stake amount.
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