The parlay involves three spread bets: the Dallas Cowboys -2.5, the Tampa Bay Buccaneers +4, and the Kansas City Chiefs -10. 3-team parlayĪs an example, this is a three-team NFL parlay. However, that increased risk is reflected in the parlay odds. Parlays tie together multiple bets and because all the bets involved must win for the parlay to pay out, the risk is much higher than a single-game bet.