Free app of the week: Parlay

Challenge your friends and stake money on it

Parlay app

Parlay app

Apparently a parlay is a cumulative series of bets in which winnings are used as a stake for a further bet. Nevertheless, this isn’t a standard gambling app. Instead it’s challenges between friends with the loser agreeing to pay money, make a donation to a charity or post a picture – of the event or gift, or maybe even a selfie of them looking defeated. Potentially it could be used to motivate someone to complete a goal, such as losing weight.

Monetary transactions are enabled by transferring Bitcoins to your Parlay vault, which may put some people off. Still the sign-up process seems pretty secure, involving linking to a Facebook account and entering a phone number for a SMS verification code. You then have to accept the terms and conditions that remind you parlays aren’t bets and are non-binding so payment is voluntary. Since gambling on sports is banned in most US states, you’re not permitted to create parlays based on real sports results, which is a shame.