Layup Looks to Combine Parlays with Saving Money

Posted on: May 1, 2025, 04:52h. 

Last updated on: May 1, 2025, 04:52h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.
  • Company offers unique spin on parlay betting with a savings kicker
  • Deposits are saved, not wagered

Bettors love parlays, but the real winners in those long odds wagers are sportsbook operators. A financial technology (fintech) company is looking to make parlays more useful to bettors and savers alike.

Layup
The Layup logo. The fintech company is offering a unique way for bettors to avoid losses on parlays. (Image: PR Newswire)

Layup, a New York-based fintech startup, is the company behind a mobile application that doles out daily sports picks in accumulator fashion. Rather than wagering the deposit, clients save it in a bank account. Each pick offers the bettor an opportunity to win real money, but the principal always remains untouched. It’s similar to the Prize Bonds in Ireland — the home country of Layup’s founders.

The concept is based on Irish Prize Bonds, which are operationally a lottery funded by the interest earned on the $5 billion worth of deposits in the program,” according to a press release. “But in Ireland, it’s much more significant: Prize Bonds are a safe, fun, and trusted way to enjoy the thrill of winning without the risk of financial loss.”

Layup is available on both the Google Android and Apple iOS mobile platforms. Deposits into Layup accounts are moved into accounts at nbkc bank, which is regulated by the Federal Deposit Insurance Corporation (FDIC).

Layup Doesn’t Guarantee Winners, But it Prevents Losses

Every bettor would love a sure thing and while Layup doesn’t guarantee winners, it does not on its website that clients will not lose money. nbkc bank pays Layup for driving deposits to it and that capital is used to payout winning bets.

The concept isn’t a free lunch. Layup is also clear to point that while its concept doesn’t subject bettors to losers, the accounts don’t generate interest. In other words, customers’ cash sits in a bank account without any potential appreciation of that money but with the possibility that capital will be used on winning bets.

The no interest factor could be a tough pill for some to swallow because with US interest rates still elevated, the average interest rate on a high-yield savings account is 4.40% and that’s on a risk-free investment. Some banks offer more than that. Still, there’s a case for the intersection of betting and financial safety — one that’s rarely realized on traditional sports wagering platforms.

Layup could also be useful for novice bettors because it unburdens them of having to make their own selections. The platform is chance-based, using an algorithm to assign customers either side of a wagering line. The company notes there are 21 near 50/50 lines in a given week, allowing it to generate 2.09 million unique picks.

Layup Could Make Parlays Great Again

Parlays lure bettors with the potential for big paydays on small stakes, but these wagers are essentially lottery tickets in that the odds are stacked against customers right off the bat. Data confirm as much.

“In 2024, Americans lost approximately $8 billion on parlay bets, a form of sports gambling especially popular among young men. At the same time, this same group is facing historically low savings rates and increasing financial stress,” according to Layup.

Layup may be onto something. Co-founder and CEO Owen Monagan notes that after a month, 60% of Layup clients are reducing their activity on traditional sportsbook apps.