FanDuel Parlay Insurance
FanDuel Sportsbook has one of the best parlay betting features on any US betting site, and the regular parlay insurance for both traditional and same game parlays is a major factor in what makes it so good.
Because parlay insurance is a way to get your money back on a losing wager, we consider it a promotion, which is convenient since FanDuel lists parlay insurance in their 'promotions' tab.
FanDuel Sportsbook Welcome Offer
Bet $5 Get $125
How Does FanDuel Parlay Insurance Work?
Parlay insurance refunds part or all of a lost parlay wager as free bets, giving you a little cushion if a risky leg of a parlay doesn't work out.
The basic premise for FanDuel Parlay insurance is you need to place a parlay wager (or same game parlay wager in some cases) and have all but one leg be correct. In almost all cases, the minimum number of legs will be three, but it's far more common to see parlay insurance on 4+ leg parlays.
FanDuel Sportsbook is one of the few betting sites that sometimes offers parlay insurance on the whole bet, not just when one leg of the parlay is incorrect, which is great news if you're a fan of taking bigger risks on this type of bet.
After opting into the relevant promo, and placing your qualifying wager, the parlay insurance will kick in. If a single leg of your bet loses, you will be eligible to receive a portion of your bet back as free bets.
How much you get paid will differ, generally it is a fixed percentage of the wager, up to a certain amount. The most frequent parlay insurance offers tend to be about 25%-50% up to around $25.
The parlay insurance promotions you'll really want to take advantage of are the higher percentage amounts, fixed returns, or even complete bet coverage that doesn't rely on getting all but one leg of the wager right - though these promos will usually be around major tournaments or events like the Super Bowl or World Cup.
The easiest way to understand how parlay insurance works is to see a hypothetical example. This example will be a Same Game Parlay on the NFL, between the Dolphins and Bengals:
- Miami Dolphins +3.5 (spread)
- Total Points 1st Quarter Over 9.5
- Bengals Total Points Over 26.5
- Wager $10 - To Win $79.31
This 3 leg parlay was built because of a parlay insurance promotion for the game, giving back a full refund as free bets if one leg loses. This is a very similar parlay insurance promo you would likely find on FanDuel regularly.
For this example, let's say legs 1 and 3 are correct, but leg 2 was incorrect (only 7 points were scored in the first quarter).
Since only a single leg of the parlay lost, we're eligible to claim the parlay insurance, and will receive a full refund as free bets to use on the betting site later.
FanDuel Parlay Insurance - What Sports Are Eligible?
FanDuel has one of the more robust offerings of any parlay betting site, but parlay insurance is not available for every sport. You'll find most parlay insurance offers targeted at major sports like football, baseball, basketball, and soccer, though there are promos you can use for any parlay wager from time to time.
Same Game Parlay Insurance is a separate category, as there are fewer sports available to wager on, but this is actually where the majority of parlay insurance offers are featured given FanDuel's push for the SGP.
Traditional parlays can be placed on just about every single sport and event you can find on FanDuel Sportsbook, and the handy Bet Builder tool makes it simple to combine multiple events into a big potential payout.
If you want to wager on darts, F1, and a few NFL Sunday games you absolutely can, and there is almost always a multi-sport parlay insurance offer from FanDuel to give you that little bit on insurance.
While still offering one of the largest selections of sports for SGP betting, there are only a few options when creating a parlay on one event:
Naturally, this means that FanDuel SGP parlay insurance will also be limited to these sports, but given their popularity in the US, FanDuel regularly pushes SGP promotions like parlay insurance, to bettors - so you can pretty regularly take advantage of insured bets.
How to Use Parlay Insurance on FanDuel
It's all well and good to go over the numerous reason why parlay insurance is a great bonus on FanDuel Sportsbook, but knowing how to use it Is also important.
Sign up for FanDuel
Get Parlay Insurance
Place a Parlay Wager!
Once you know what sports or events are eligible for parlay insurance when you want to wager, the last thing is to place your wager!
- Find the game you want to wager on*
- Create a parlay that has the minimum number of legs for the insurance
- Bet at least the minimum amount
Once you've successfully wagered, you just need to sit back and see if your bet wins. If one leg does lose, you'll be eligible to claim back money as free bets!
*if the parlay insurance is for traditional parlays, you'll need to pick the results of different games
FanDuel Same Game Parlay FAQ
How much insurance do I get on my bets?
Parlay insurance is almost always issued in the form of a promotional offer, meaning the amount you're eligible to claim back on a losing parlay depends on the event, sport, or tournament the promo is available for.
Most commonly parlay insurance comes as a percentage of your wager, typically around 25-50%, but sometimes up to 100%. FanDuel, like all other betting sites, does impose some limitations, like minimum odds, wager amount, or maximum refund, but this is typically around the $25 mark so it's still quite valuable.
Does every FanDuel parlay have parlay insurance?
No, FanDuel parlay insurance is not automatic for every parlay. You'll need to check the 'promotions' page to see what parlay insurance is being offered at any given time, but you can expect to find at least one promotion each week, especially around major tournaments, playoffs, or just during the NFL season.
Is there parlay insurance for Same Game Parlays?
Yes! FanDuel pioneered the Same Game Parlay, and really likes to focus a lot of promotions around it. Same Game Parlay Insurance is not different, and you can enjoy this bonus on the NFL, NBA, Soccer, and the MLB.
How does FanDuel parlay insurance work?
FanDuel parlay insurance works by insuring your bet up to a certain value in case of a loss. If you place a 3+ leg parlay, for example, and only one leg of you bet is incorrect you can claim back a portion of you wager as free bets to use on the site later.
Fundamentally, parlay insurance is just a risk-limitation. As parlays are generally a riskier type of betting as all legs need to be correct to cash in, this can give you the confidence to take longer odds on a leg, or just know that if something unexpected happens you won't be totally out of luck.
FanDuel Same Game Parlay Insurance
FanDuel Same Game Parlay Insurance works exactly the same as traditional parlay insurance - only its for a SGP.
Because FanDuel pioneered the Same Game Parlay, they tend to focus more on a SGPs than multi-game parlays, which isn't such a bad thing considering multi-game parlays are far more common. With the SGP emphasis come more SGP Insurance promotions, typically for single game through the week, or during tournaments.
FanDuel NBA Parlay Insurance
The NBA is a popular sport for parlay betting, especially same game parlays on FanDuel. This makes it a perfect league for parlay insurance - and FanDuel knows it. During the playoffs and even just for big games parlay insurance promos frequently pop up.
Just like the traditional parlay insurance for the NBA, FanDuel promotes their deep NBA same game parlay options with parlay insurance offers. While same game parlays are not available for the NCAA, March Madness is prime time for promos, parlay insurance included.
FanDuel Parlay Insruance NFL
Not only is the NFL the biggest sport wagered on in the US, it has some of the most comprehensive and deep market options of any league on FanDuel - so building traditional and same game parlays is ideal.
Just like the NBA, FanDuel NFL same game parlay insurance promotions are common during the season, and really help make sure you have a bit of a fallback if you get a bad beat or some major upsets ruin your bet slip.
FanDuel Parlay Insurance Promos
FanDuel Sportsbook has always been quite generous to users, and their frequent parlay insurance promos are proof of this. You can expect to find at least one parlay related promo each week on FanDuel Sportsbook, more during the NFL season and playoffs for basketball and hockey.