Published on: January 16, 2026, at 11:13 AM.
Updated on: January 16, 2026, at 11:20 AM.
- The brokerage will enable prediction market users to create customized NFL parlays
- Similar to other prediction market operators, Robinhood refers to these as “combos”
- The initiative was previewed during their December YES/NO event
On Friday, Robinhood Markets (NASDAQ: HOOD) declared that it will permit prediction market users to design their own NFL parlays, though they prefer not to use the term “parlays.”
With the launch of the “Custom Combos” feature, eligible clients can group up to 10 selections into a solitary wager on any NFL game. This new offering resembles same-game parlays, or multiple bets revolving around one game.
Such betting options are gaining popularity among casual bettors and have driven growth for conventional sportsbooks. Eligible Robinhood clients can include event contracts such as sides, totals, and player prop bets within their “combos.”
For instance, ahead of the upcoming matchups, clients could devise a combo featuring a Buffalo victory, a touchdown from Josh Allen, and Bo Nix passing for over 200 yards, all bundled into one contract. For a payout, all components must be correct,” stated a Robinhood spokesperson.
The announcement came just before the NFL divisional round, a weekend featuring four games that could generate significant interest in this new service.
Ensuring Accurate Pricing for Parlay Wagers
The integration of prediction markets and sports derivatives has notably accelerated this football season. However, one critical area that requires attention is pricing. Simply put, fees and subpar odds on prediction markets have highlighted the advantages of sticking with traditional sportsbooks for sports betting.
It’s not to suggest that prediction markets cannot enhance this situation over time, but as these exchanges delve deeper into combos/parlays, their pricing structures are sure to face greater examination, given that experienced bettors understand that parlay odds often favor the house, not the bettor. Some experts argue that larger-than-three-team parlays lead to odds that do not reflect true chances.
The way prediction markets price accumulator bets is crucial for clients, as the complexity of a bet increases with each additional leg, resulting in a lower probability of success.
Moreover, parlays carry a negative expected value (–EV), meaning that over time, most bettors who frequently engage in parlays will incur losses.
Robinhood’s Role in Prediction Markets
In November, Robinhood announced a collaboration with Susquehanna International Group to establish its own prediction market platform, while still maintaining partnerships with ForecastEx and Kalshi.
The following month saw the aforementioned YES/NO event where Robinhood elaborated on its broader prediction market strategies, including significant moves into sports derivatives.
Since late 2024, over a million Robinhood clients have traded over 11 billion event contracts on the platform, establishing prediction markets as the firm’s fastest-growing business in terms of revenue. Analysts predict that the evolving U.S. prediction markets industry will likely be dominated by five major players: DraftKings, FanDuel, Kalshi, Polymarket, and Robinhood.