A parlay bet in sports betting is when a bettor makes multiple wagers (at least two) and ties them together into the same bet. By betting on multiple bets to win instead of a single bet, the bettor increases his/her potential payout. However, it comes with increased risk because if any of the bets in the parlay loses, then the entire stake of the bet is lost.
Parlays are extremely popular bets for sports books, but they aren't typically available in peer-to-peer betting exchanges given the difficulty of creating liquid markets around a specific combination of bets. With the launch of the SportX AMM though, it becomes possible to launch parlay bets as well.
Parlays can be constructed on the SportX protocol, though they will take some time to configure. It will be technically possible for users to bet parlays peer-to-peer, but in practicality the AMM will be the main counter-party for parlay bets. The founding team will be releasing further designs on how parlays will work in the near future.
More information to follow.