From an entertainment standpoint, there is more suspense and excitement. 

There’s also a bang-for-your-buck element. You can bet on a several highly likely outcomes for a fraction of the cost, if you’re cheap like me and usually make minimum wagers. 

Undisciplined

Stacker_Sports

Reddit community parlay

WeAreAllSatoshi

So if you think they are highly correlated you'd be more willing to take it.  But it sounds like you can't take the opposite side, so if you don't think they're highly correlated you'd simply abstain.

I think I mostly read about parlays in the context of fans getting mad at players for failing to help them hit their parlays.  Maybe it's the "oh so close" mentality that gets people even more riled up than single bets.
