New sports bettors are drawn to parlay bets for their high payout potential. But anyone who has wagered on a few parlays knows they can be tough to hit.
If you’re like the majority of parlay bettors in Ohio, you’ve found yourself losing more of them than you win.
But a new promotion at the Barstool Sportsbook at Hollywood Casino Toledo could turn those losing parlay bet slips into big prizes. So before crying in your beer next time you miss that big parlay, pocket that bet slip.
Ohio sports betting kicked off on Jan. 1. Hollywood Toledo’s new Barstool Sportsbook is collecting losing bet slips through Super Bowl Sunday for drawings every Friday in January leading up to a grand finale drawing Feb. 12.
Barstool Sportsbook at Hollywood Toledo parlay bet-slip drawings
Every Friday in January, visitors to the Barstool Sportsbook at Hollywood Casino Toledo can participate in the $20,000 Second Chance Parlay Sweepstakes. Just drop any losing parlay bet slip into the drawing drum up until the 5 p.m. drawing time. Five winners will be selected every Friday to receive $200 in slot or table games play at the casino.
The biggest prizes will be awarded in the “Finale Drawing” on Sunday, Feb. 12. On that day, from 3 p.m.-6 p.m., two slips will be drawn every 30 minutes, awarding the winners $250 in slots or table games play. Then at 6 p.m., two final winners will receive prize packages valued at more than $6,000 each.
Guests are required to be present to receive prizes given out on Finale Drawing Sunday, but they do not have to be present to win the Friday prizes.
What is a parlay bet, anyway?
For the uninitiated, a parlay bet is basically a bet that contains more than one leg. It’s an all-or-nothing bet; you must win each leg in order to win the bet. A simple example is picking the winner of two (or more) separate games. Both of your teams have to win, or you’re out of luck.
The more legs you add to your bet, the higher the potential winnings will be and the less likely it is to hit.
For bettors that are interested in a single game, sportsbooks offer same-game parlays. In a same-game parlay, bettors can stack up any number of game lines, player props and more.
While parlays can be a way to hit a big win on a small bet, sportsbooks offer them because the books make a lot of money off the long odds.
If you’re interested in parlay betting, it will pay to read PlayOhio‘s guide to parlay betting.
Barstool Sportsbook locations coming to Ohio’s metro areas
Penn Entertainment operates four Hollywood casinos in Ohio, and each one will soon open a Barstool Sportsbook on site.
Barstool offers in-person sports betting in a lively sports bar environment, with a full bar and food menu, self-serve betting kiosks and of course lots of TVs. Many Ohioans have had a taste of the Barstool experience, with three Barstool Sportsbook locations located out of state but within an hour drive of Ohio.
Ohioans will no longer have to cross state lines to hang out at Barstool, with Hollywood Gaming Mahoning Valley, Hollywood Casino Columbus and Hollywood Gaming at Dayton Raceway opening their locations soon. All Hollywood Casino locations in Ohio currently offer sports betting via kiosks.
The Barstool Sportsbook app offers promotions too
Ohio’s Barstool Sportsbook Ohio app is live and taking bets. New users can get $10 in bet credits to try out the app and up to $1,000 in bet credits if your first bet loses. The initial $10 bet credit is yours upon sign-up.
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