Fan Duel Parlay Insurance Article
Article

How Does FanDuel Parlay Insurance Work?

26 September 2022

FanDuel Sportsbook is one of the best betting sites for parlays, especially Same Game Parlays, and to go alongside the riskier betting style is parlay insurance - here is how parlay insurance works on FanDuel.

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

  1. Bet $5 Get $125

    AZ/CO/CT/IL/IN/IA/KS/LA/MI/NJ/NY/PA/TN/VA/WV only.

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. 

Parlay Insurance Restrictions

As parlay insruance is classed as a 'promotion' on FanDuel, there are some restrictions that come along with the various offers.

Minimum odds, number of parlay legs, or even event specific wagers are all common, but make sure to read the T's and C's for each individual promotion to make sure your wager qualifies you.

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. 

Parlay Insurance FanDuel Example

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:

  1. Miami Dolphins +3.5 (spread)
  2. Total Points 1st Quarter Over 9.5
  3. 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. 

FanDuel Sportsbook Parlays

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.

FanDuel Sportsbook Same Game Parlays

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:

  • Football
  • Basketball
  • Hockey
  • Baseball
  • Soccer

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.

1

Sign up for FanDuel

You can't really enjoy parlay insurance on FanDuel without signing up to the sportsbook first.

  • Hit one of the green buttons to get sent over to FanDuel
  • Register for the betting site

To register you'll need to provide some general information:

  • Email
  • Name
  • DOB
  • Address
  • SSN
2

Get Parlay Insurance

Once you're signed up, you just need to head over to the 'promotions' page of the betting site and see what parlay insurance offers are available.

  • Navigate to 'promotions'
  • Find a parlay insurance promo
  • Read the T's & C's
  • Find what games or sports are eligible for insurance
3

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. 

FanDuel NBA Same Game Parlay Insurance

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 parlay insurance

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. 

Latest FanDuel Promotions

FanDuel Bet $5 Get $125 - Thanksgiving Bonus

21 November 2022 - 25 November 2022

If you're a new FanDuel Sportsook user, you'll have plenty to be thankful for this Thanksgiving, with a bet $5 Get $125 offer! Read more

FanDuel Sportsbook World Cup Promo - Up to $1,000

18 October 2022 - 18 December 2022

FanDuel Sportsbook has a huge $1,000 World Cup betting promo for new users, setting player up very well to bet on the tournament in 2022. Read more

FanDuel Sportsbook Kansas - $100 No Deposit Promo

23 August 2022 - 1 September 2022

Kansas is poised to go live with online sports betting. Early sign-ups with FanDuel Sportsbook can claim $100 in free bets before launch! Read more

FanDuel Bet $5 Get $150 - NFL Week 1 Promo

22 August 2022 - 12 September 2022

Start of the football season right with FanDuel Sportsbook's Bet$5 Get $150 welcome offer. You can kick off Week 1 with a ton of free bets just for wagering $5 - win or lose! Read more

FanDuel Super Bowl Win Bonus - NFL Free Bets

15 August 2022 - 8 September 2022

Look forward to Super Bowl LVII with weekly free bets from FanDuel Sportsbook! Pick a championship winner and earn $5 for each game they win during the season. Read more

Countries

x