What is UFC Parlay Insurance – Is UFC Parlay Insurance a Good Promo?

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OddsJam StaffJune 1, 2022, 05:32 PM

One of the most gut-wrenching things that can happen to a UFC bettor is they place a great parlay, only to lose by just one leg. So close to that huge payout only to be left with nothing. Well, luckily there are some sportsbooks that offer UFC parlay insurance. 

The specific terms will vary from book to book, but the general sentiment of parlay insurance is that you will get a refund — typically up to $25 — if your parlay loses. 

How Does UFC Parlay Insurance Work? 

Parlays are popular bets to place because of the high payouts associated with them, but they are also risky. All it takes is one leg to lose and your entire parlay is up in flames.

Because of this, sportsbooks will offer parlay insurance. Essentially, sportsbooks will try to incentivize users to place parlays by offering them parlay insurance that inherently minimize the user’s risk.

Again, the specific terms are going to be different for each book, but here is how parlay insurance generally works:

  • Place a parlay of four-plus legs (sometimes the minimum will be five legs depending on the book).
  • The odds of each individual leg must be no worse than -200 (so +100, +150, -150 would all be fair game)
  • If all legs hit except one, you will get a refund of up to $25 in site credit.

That last bullet point is the most important one to note. The parlay insurance only gives you a refund if just one leg loses, and it is almost always capped at $25. If you place a four-leg parlay and two of them lose, you would not be eligible for a refund. Or if you place $50 and one leg loses, you would only get $25 in site credit. 

It is also important to read all the terms before placing your bet. At some sportsbooks, same-game parlays won’t be allowed and only cash bets will be eligible. That means you can’t use a free bet or site credit and have the parlay insurance apply.

Is UFC Parlay Insurance a Good/Profitable Promo?

Yes! Absolutely. We love UFC parlay insurance. 

It can definitely be profitable, but only if used correctly. Below we will detail strategies for how to use this promo.

Strategies For Betting UFC Parlay Insurance

Of course, with any type of promotion, there are going to be strategies involved to best take advantage of them. 

Don’t Go Crazy With it

Even with getting the insurance, the parlay should still be bet within moderation. Meaning, you shouldn’t start placing 10- or 15-leg parlays with the insurance. Naturally, the more legs you add to the parlay, the less chance you have of only one leg missing (alongside an even lower chance of the actual parlay hitting). 

With that said, the best practice here is to add only the number of legs to your parlay necessary to meet the minimum requirement. If the sportsbook requires a parlay with four-plus legs, then only place four legs. You’d be surprised how far a $25, four-leg parlay can get you in terms of odds. 

Bet The Maximum Amount Refunded

It is also a best practice to not bet above the amount that sportsbooks will refund you. If the book refunds up to $25, then bet $25. If you bet more or less than that amount, you are lowering the value of the promotion. 

Pay Attention To The Minimum Odds Requirement

This is probably the most important strategy in terms of actually getting a parlay to win or not. If there is no requirement on minimum odds, then the best strategy is to parlay moneyline favorites. 

Of course, with how much variance there is in the UFC, there are going to be plenty of upsets. The key here is to find favorites that have a positive expected value associated with their moneyline odds. 

If the book you are using does have a minimum odds requirement, then finding positive EV bets is even more valuable. This is where we highly recommend using the OddsJam Positive EV page to find three to five UFC bets that are Positive EV, and use those to build your parlay. 

What Sportsbooks Offer UFC Parlay Insurance?

The most popular one is FanDuel Sportsbook. The terms of their UFC parlay insurance are similar to what was detailed above, with the note to confirm being they require four legs minimum. Everything else is the same as previously stated (odds no worse than -200, refund up to $25).

Also, check out NHL parlay insurance.