Online parlay betting allows gamblers to combine multiple wagers into a single bet, increasing potential payouts while also raising the risk. By linking two or more bets, such as point spreads or totals, bettors can amplify their winnings if all selections are successful. This popular form of betting is available on various online sportsbooks, offering users the convenience of placing bets from anywhere. However, the challenge lies in the need for all chosen outcomes to win, making it a high-stakes option for those seeking greater rewards in sports betting.