# Parlay Betting Calculator

You can use the parlay calculator to quickly calculate the payout of your bet by entering the odds for each leg of your parlay.

Bet Amount

## Parlay Betting Calculator

The free parlay calculator lets you build a parlay wager that includes many games and calculates the expected payoff. The more games there are, the bigger the risk, but the better the return. Each game must win or tie for the parlay to win. If any of the games loses, you lose the entire wager. When calculating parlay odds returns on your parlay bet, enter the total wager amount into the parlay odds calculator and the money line for each game. This can also get your first parlay bet refunded.

## What is a Parlay Bet?

Parlay bets are extremely popular, particularly among rookie bettors. This is because they offer the potential for a huge payment on a tiny bet amount because you obtain higher rewards than if you bet them separately as your bet accumulates like compound interest. The parlay bet payoff is large since these bets reduce your chances of winning. Parlay bets must involve at least two wagers, and all “legs” of the parlay bet must win for the parlay bet to pay off. You lose your original stake if any leg of the bet fails. If one team pushes, the parlay bet payoff is decreased to the next lower number; therefore, a 5-team parlay bet becomes a 4-team parlay bet, a 4-team parlay bet becomes a 3-team parlay bet, a 3-team parlay bet becomes a 2-team parlay bet, and a two-team parlay bet becomes a straight bet. The more bets you add and the longer the odds on each bet, the greater the potential payoff for your parlay bet and the lesser your chances of winning. Use the betting parlay calculator to understand how the parlay payout works for the bets you’re contemplating. Keep in mind that when you place a parlay bet, the sportsbook has a considerably larger advantage.

## How to Calculate Parlay Payout?

The best way to compute the parlay bet payoff is to use the parlay betting calculator or enter your bets into the sportsbook app where you want to place your bets and enter your game selections. When the significant underdogs are added to the wager, the payoff value of a parlay can increase enormously. When placing a parlay bet, shop around and calculate the parlay with various sportsbooks because the odds and payout can vary substantially. Parlays also make the bookies money in the long term since they never pay close to the genuine odds. A two-team parlay has four possible outcomes (Win-Win, Win-Lose, Lose-Win, Lose-Lose); thus, you should hit 1 out of every four times or odds of 3-1 against you, although the normal return for a two-team parlay is 13-5. (2.6-1).

## Examples

### Parlaying 3 NBA Bets

So, if you’re parlaying three NBA teams at -110 in American odds, your calculation looks like this since -110 in decimal odds equals 1.91.

1.91 x 1.91 x 1.91 = 6.97

6.97 - 1 = 5.97

5.97 is +597 in American odds, which means this parlay pays almost 6-1.

### Betting a Moneyline Parlay on 3 NFL Favorite Teams

Assume you want to wager three strong favorites on the moneyline because you believe each team will win but are unsure whether they will cover the spread. So you wager team A at -300 against team B, team C at -200 against team D, and team E at -150 against team F. After converting to decimal odds, the formula looks like this:

1.333 x 1.5 x 1.667 = 3.33

3.33 - 1 = 2.33

2.33 = +233

The winnings from this parlay pay +233. Because this parlay has a higher chance of winning three favorite teams, the payout ratio is lower.

## What kinds of bets can you combine?

Normally, you can add almost anything, including the moneyline, spread, and over/under. However, most bookmakers would not allow a parlay to include bets with a connection. The moneyline and spread bets of a similar game are two examples. They will permit one but not both. This also applies to futures and prop bets if the sportsbook accepts them. Every sportsbook is different, although most single wagers can be combined in a parlay if they are unrelated to one another.

## Should You Make a Parlay Bet?

An anti-parlay gambler can argue that parlay bets don’t work because the bookmakers don’t give you actual odds on any parlay. However, a pro-gambler can argue that you can win a lot when you bet a little. A parlay bet maximizes your gains. Sportsbooks normally perform extremely well against most parlay bettors since most gamblers lose approximately 50% of the time, so even a two-team parlay is a losing proposition if it goes 1-1. And it’s difficult enough to win a single game, let alone numerous games. As a result, the books love to book as many parlays as they can. On the plus side, the payoffs are enticing, and you stand a higher chance of winning large. And, as previously stated, if you consistently strike a higher-than-average proportion of your straight bets (at least 55%), you can make more money with parlays. When you’re on a trend or system that the oddsmakers haven’t adjusted, it’s ideal to play parlays since you’re receiving an edge on individual bets and compounding it with parlays. To prepare for the parlay, use the odds calculator parlay.

## FAQs

### Am I getting fair parlay odds?

No. The real probability of a two-team parlay with both prices at -110 should be +300. However, you only receive +260. At that price, three teams should be +700. However, you are just receiving +600. Parlays aren’t necessarily awful bets, but they’re never a fair bet from a sportsbook.

### How do I calculate a parlay payout?

To calculate a parlay payout, you should use a bet calculator parlay. Using the parlay calculator odds, convert the odds on your lines to decimal format, then multiply those decimal odds by the overall odds for that parlay. For instance, if you bet \$100 for a parlay bet of 6.97, you will win \$597.

It’s infrequent to find a bet priced at what you expect because sportsbooks make a lot of money off parlay bets. You should pick a sportsbook that keeps its lines competitive to enjoy the best price n a bet.

### When should I place a parlay bet?

You can place a parlay bet any time you want. However, if you intend to place moneyline bets on three matches taking place on the same evening, you can turn them into a parlay to enjoy a much higher payout. However, if one leg of the parlay fails, you will lose the other two bets.

### What types of bets can you parlay?

You can parlay almost anything, including moneyline, spread and totals. However, sportsbooks only allow one parlay that includes bets with a relationship. an example is the moneyline and spread of the same game.

### How good is the parlay bets payout?

The payout on a parlay is always more profitable than payouts from a single bet.

### What is a round robin parlay?

A round robin parlay allows you to break up the single legs of a parlay into different groups instead of playing them all at once.

### How can I make a parlay bet?

To make a parlay bet, select the bets you want to make as singles, and when they are on the betting slip, you will see an option to parlay them.

### How does a parlay bet work?

To make a parlay, select at least two wagers and choose to make them one on your ticket. When you create a parlay, the odds change and your potential payout at the price of a single wager increases.

### What does a parlay calculator do?

The parlay calculator allows you to add the odds for each leg of your parlay and calculate the payout of your bet. It is that simple.