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We describe a paradigm for designing parallel algorithms via approximation, and illustrate it on the b-edgecover problem. A b-edgecover of minimum weight in a graph is a subset $$C$$ of its edges such that at least a specified number $b(v)$ of edges in $$C$$ is incident on each vertex $$v$$, and the sum of the edge weights in $$C$$ is minimum. The Greedy algorithm and a variant, the LSE algorithm, provide $3/2$-approximation guarantees in the worst-case for this problem, but these algorithms have limited parallelism. Hence we design two new $$2$$-approximation algorithms with greater concurrency. The MCE algorithm reduces the computation of a b-edgecover to that of finding a b'-matching, by exploiting the relationship between these subgraphs in an approximation context. The LSE-NW is derived from the LSEalgorithm using static edge weights rather than dynamically computing effective edge weights. This relaxation gives LSE a worse approximation guarantee but makes it more amenable to parallelization. We prove that both the MCE and LSE-NW algorithms compute the same b-edgecover with at most twice the weight of the minimum weight edge cover. In practice, the $$2$$-approximation and $3/2$-approximation algorithms compute edge covers of weight within $$10\%$$ the optimal. We implement three of the approximation algorithms, MCE, LSE, and LSE-NW on shared memory multi-core machines, including an Intel Xeon and an IBM Power8 machine with 8 TB memory. The MCE algorithm is the fastest of these by an order of magnitude or more. It computes an edge cover in a graph with billions of edges in $20$ seconds using two hundred threads on the IBM Power8. We also show that the parallel depth and work can be bounded for the Suitor and b-Suitor algorithms when edge weights are random.