Parlay Calculator
Parlay bets are not only enjoyable, but also practical when struggling to find favorable odds on individual games. Combining your selections into a parlay increases the potential for larger winnings. Utilize a parlay calculator to easily determine the potential payout without the need to manipulate a betting slip.
Check out our betting odds section to view the odds from the top sportsbooks. Compare the books to find out which one offers the highest return for your parlay. These sportsbooks all provide parlay betting, excellent odds, and service for a variety of sports.
Inputs
Parlay Odds: The odds at which the parlay is being offered (only needed for calculating premiums)Risk/Win Amount: The desired dollar amount to risk or win. Adjusting the dropdown menu will automatically update the risk/win amount based on the given odds.Line Set: The line set expressed in cents (-110/-110 => 20 cents). Choose “user” to specify markets for each bet (only needed for calculating odds and premiums)Number of Games: The total number of individual bets included in the parlayGame N Line: The line offered for each individual bet. If “user” is selected for “Line Set,” also provide the line for the opposite side of the market.
Outputs
A parlay, also known as an accumulator in the UK, is a type of bet where the outcome is dependent on the success of two or more individual bets. All underlying bets must win for the parlay to be successful. If any of the underlying bets lose, the entire parlay is considered a loss. This type of bet offers a higher potential return but also carries greater risk. In the UK and Ireland, 2-team parlays are called doubles and 3-team parlays are called trebles. Non-parlay bets are referred to as singles.In the past, placing a bet could be challenging as it required physically finding a bookie. To simplify the process, players would sometimes instruct their bookie to place winnings from one bet on another in a parlay. Bookies soon realized that the order of bets in a parlay didn’t matter, and they could be placed simultaneously. If any underlying bet lost, the entire parlay was considered a loss, and if all bets won, the parlay was a win.This calculator can determine parlay payouts and premiums based on the odds of the underlying bets. It accepts both US and decimal odds, with decimals over 100 prefaced with a “d” or “0”. For example, odds of 200.0000 would be entered as “d200” or “0200”.
Parlay Calculator
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Parlay Calculator
A parlay offers sports bettors the chance to win a big payout with a small initial wager, making it an exciting option for those looking to maximize their winnings. It is especially beneficial for betting on multiple favorites, adding value to your bets. Our parlay calculator helps you determine the accurate odds when combining different selections, ensuring you are being offered a fair payout by the sportsbook. It also allows for quick adjustments to your parlay without the need for a bet slip.
What is a Parlay?
A parlay bet combines multiple selections into one wager, increasing the potential payout. All selections must win for the bet to pay out, but if successful, the profit is much larger. For instance, if you think the New York Giants, San Francisco 49ers, Houston Texans, and Indianapolis Colts will all cover the point spread on a weekend, you can either bet on each team individually or combine them into a parlay bet.
For your parlay bet to be successful, every team must cover the spread. If even one team fails to do so, your bet will be unsuccessful. However, if all four teams cover the spread, you will receive a much higher payout compared to betting on each team individually. Parlay bets are riskier than single game bets but offer a larger reward if successful. In the UK, parlay bets are also referred to as accumulators or accas.
A parlay involves combining two or more selections. While it is possible to add numerous selections to your parlay, our parlay calculator tool only accommodates up to 15 selections as it is unlikely to go beyond that. You can include money line selections in your parlay if you find the odds favorable. Parlays can be placed on totals, spreads, futures, or prop bets. You can mix and match different types of bets in a single parlay, such as betting on the total points in one game, two teams to cover the spread, one team to win outright, and two games to have fewer points scored. Additionally, you can make multiple selections and create various parlays within that selection group.
How to Use the Parlay Calculator
To determine the potential payout of a parlay you’re considering, follow these steps:1. If you want to include the odds offered by a specific sportsbook, enter them in the Odds Offered box. If not, you can skip this step.2. Input the amount you want to bet in the Risk Amount box. Alternatively, you can switch to Win Amount, enter your desired winnings, and the calculator will show you the required bet amount.3. Use the Line Set box to calculate the odds and premium for spread and totals bets, if needed.4. Specify the number of games in your parlay (from two to 15).5. Enter the odds for each selection in either US or decimal format, including the minus sign for negative US odds.6. Click “Calculate” to see the potential payout of your parlay bet.
After using the parlay calculator, you will receive information on the mathematical odds, true parlay odds, true parlay win amount, premium paid over mathematical odds, and premium paid over true parlay odds. The key result to focus on is the “True Parlay Win Amount,” which indicates the expected payout at a sportsbook based on your risk amount and the odds of each game in the parlay. If a sportsbook offers a much lower payout for the parlay, it is a cause for concern.
An Example
Suppose you have discovered odds of -110 for New York, San Francisco, Houston, and Indianapolis to cover the spread in their NFL games on a specific weekend. You want to place a $100 bet on a four-team parlay with these selections. To do so, follow these steps:- Input $100 into the Risk Amount box.- Input 4 in the “Number of Games” box.- Input -110 in each game line box (ensure you include the minus sign)- Click “Calculate”.
After calculating the true parlay odds for the bet, you will see that it is +1228, indicating a potential payout of $1,228.33 for a $100 wager. If your sportsbook offers odds of +1220 for the same bet, you can input this figure in the “Odds Offered” box and recalculate. The result will show that you are paying a 0.63% premium over the true parlay odds. You can also input the Line Set in cents to determine the mathematical odds and the premium you will be paying over those odds.
How Are Parlay Odds Calculated
Our copyright parlay calculator can easily determine the combined odds for any parlay wager you’re interested in. However, some people prefer to calculate it manually. To do this, convert the odds for each selection to decimal format first. You can use our copyright calculator odds converter tool (remember to include the plus and minus signs) or do it manually. For example, let’s say you have an NBA pick and a parlay bet with four teams on the moneyline: 1. Milwaukee Bucks to beat Boston Celtics at -200 (1.5 in decimal odds) 2. LA Lakers to beat Portland Trail Blazers at -150 (1.67) 3. Houston Rockets to beat Oklahoma City Thunder at +150 (2.5) 4. Orlando Magic to beat New Orleans Pelicans at +110 (2.1)
After finding the decimal moneyline odds for each team to cover the moneyline, you can calculate the potential return by multiplying them together: 1.5 x 1.67 x 2.5 x 2.1 = 13.15. This means that for every 1 unit bet, you would receive a return of 13.15 units. For example, if you bet $10 on a parlay wager, you could expect a return of $131.50. The decimal odds already include the return of your stake, so you would be making a $121.50 profit in addition to getting your $10 stake back. In US odds, decimal odds of 13.15 would be represented as +1215.
When to Create a Parlay
It is recommended to avoid including selections with very low or very high odds in your parlay. Very low odds do not significantly boost your overall odds and can result in losing your bet. Very high odds may be better suited for a single long shot bet. The best parlays typically consist of selections with moderate odds, such as moneyline odds between -150 and +150 and spreads or totals at -110 or -105. When using a parlay calculator, be sure to include the + or – sign when entering odds. Some calculators may not factor in the mathematical odds and premium, so it is important to consider this when determining the value of your accumulator bet.
Other Resources for Handicappers
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