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If a person places a parlay wager, this can involve as long as twelve bets being placed at one time. A successful wager will reap a highly lucrative payout. An example of this occurence is any person places four bets in a parlay of 4 teams. Human being is betting that every one of his wagers will be prosperous and succeed. However, if merely one of the wagers is unsuccessful and loses, the person loses all of the parlay.