Some sportsbooks offer a type of bet called IF. It simply links one bet to the next and you can decide how much of the risk ammount to roll over to the next bet. It is not a parlay and for each part of an IF chain you get paid out when the event is over. If a bet in the IF chain loses then the chain stops. The main advantage to IF bets is that you can lock in bets but do not have to use as much capital. The risk is that the bet is not excucuted due to a loss in the IF chain. Still they can be a powerful tool in your degen arsenal.
In the example above I bet on Casey to win at +130. I also like the odds on Woodly for the next card at -120. Instead of putting down 200$ of capital I only had to put down 100$ but I have locked in the odds for woodly. Sure if Casey loses then I dont have action on Woodly, still this is a good way of using less capital to lock in odds of events in the future and freeing up capital.