Kambi Report: Parlay Betting Surges 45% as Operators Shift Risk Margins in 2026

Sports betting technology provider Kambi released its annual sportsbook intelligence report today, revealing a dramatic shift in bettor preferences toward multi-leg parlay bets and a corresponding compression in operator profitability on combo wagers.

Parlay betting volume climbed 45% year-over-year through October 2026, far outpacing single-game wager growth of 8%. The surge was driven by mobile-first users aged 22–35 and aggressive operator promotions offering parlay boosts and free-bet incentives.

The Margin Squeeze

Kambi's data shows average parlay hold (the percentage of total parlay wagers the operator retains) dropped from 6.2% in 2025 to 5.4% in 2026. That 80-basis-point compression reflects two dynamics:

1. Promotional saturation: Operators are paying $0.18 of every parlay dollar in boosts and free-bet credits, up from $0.12 in 2025 2. Better pricing: Bettors are gaining access to sharper parlay pricing through mobile apps, reducing the traditional operator edge

Single-game wagers, by contrast, maintained a 4.8% hold—indicating that operators can no longer rely on combo bets as high-margin profit engines.

Demographics and Device

Mobile bettors account for 73% of all parlay volume, with same-game parlay wagers (bundling multiple outcomes within a single event) representing 52% of the parlay mix. Users on iOS and Android are significantly more likely to construct custom parlays than desktop players, suggesting app optimization and in-app promotions are the primary drivers of growth.

Kambi also noted a spike in parlay betting during NFL Sunday primetime windows, indicating that live-betting integration with parlay construction is becoming a standard engagement tool.

Competitive Implications

The data underscores intensifying competition for market share. DraftKings and FanDuel, the two largest U.S. sportsbooks, are trading parlay boosts weekly—sometimes daily—to retain high-value users. Smaller operators including Pointsbet and WynnBET are differentiating with proprietary parlay products (same-game parlays with unique leg combinations), though Kambi's data suggests promotional arbitrage rather than product innovation is the primary customer acquisition driver.

Operators are now facing a strategic choice: continue competing on parlay promotions and accept thinner margins, or shift marketing investment toward higher-hold product categories including live in-game betting and proposition wagers.

What's Next

Kambi expects parlay volume growth to moderate to 20–25% annually through 2028 as promotional budgets reach saturation. Operators tracking the report are likely to accelerate investment in prop-bet and live-betting infrastructure, where margins remain above 5% even in mature markets.