Parlay Calculator: Calculate Your Parlay Odds in Seconds

Last Updated on Sat Nov 30 2024
Reviewed By: James Leeland
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The parlay odds calculator is more than just a tool to provide solutions to basic mathematics problems. So, join me as we look at the implications of this unique kind of calculator and how it can be used to revolutionize the way you play at online sportsbooks.

Try our free Parlay Calculator today

Parlay calculator



What is a parlay calculator?

To understand what a parlay betting calculator is, you must first know what a parlay bet is. In short, it’s all about combining multiple bets into one. To win a parlay, every single selection on your bet slip needs to score a victory. If even one falls short, it’s game over for your dream of winning the bet.

Now, why go through this high-stakes circus act? If you can just put single bets on surely that’s better? Not necessarily, as the parlay bet takes into account the decreased probability due to the fact you’re betting on multiple outcomes in one, as such your potential payout is significantly increased over the same single bets.

With the potential for a large volume of individual bets that make up your parlay at the best online sportsbooks, this is where a parlay calculator can prove helpful. Furthermore, the calculator can be used to determine the potential payout of a parlay bet and its implied probability of happening.

How to use a parlay odds calculator

I’ve created a step-by-step guide to using this unique kind of calculator here:

  1. Open the parlay calculator
  2. Add desired stake amount
  3. Add your odds (moneyline, point spread, under/over, etc)
  4. Make sure every individual bet is added correctly
  5. Click calculate

Once you’ve clicked the calculate button, it will typically provide three values – the parlay odds, parlay payout, and implied probability. You can then use this information to gauge probabilities and potential payouts, helping to decide if the parlay bet is worth it.

How is a parlay bet calculated? 

Let’s take a look at the steps a calculator would take to calculate your parlay bets for you:

  1. Convert American odds to decimal odds
  2. Multiply all decimal odds together
  3. Multiply your answer by your total stake
  4. Subtract the original stake to get the parlay odds

Parlay Calculator for various sports

Other types of betting calculators

There are various types of calculators that players can make use of for online betting. Maybe you want to use a calculator to assess the viability of making a hedged bet or maybe you want a simple moneyline calculator, we have a calculator for almost every need. A few of our most popular betting calculators can be seen in the table below with a short explanation of their uses.

CalculatorDetails
Moneyline calculatorHelps players determine potential winnings based on moneyline odds.
Half point calculatorTool used to calculate adjusted odds and potential payouts when half points are added or subtracted from point spreads.
Hedge betting calculatorHelps determine the optimal amount to wager on a new bet to minimize potential losses.
Kelly criterion calculatorTool used to help bettors determine the optimal size of a bet based on the edge or advantage they have and the odds offered.

Final thoughts on the parlay betting calculators

And there you have it, folks, our whirlwind tour through the world of parlay betting draws to an end. With the trusty parlay calculator it’s like juggling multiple bets at once without dropping a single ball. With the right strategy and a bit of good fortune, parlay bets can be a fun option for you to try out.

So, whether you’re diving into NFL action or testing your skill with some UFC picks, remember to use your calculator wisely. It’s not just about the numbers, it’s about enhancing your sports betting adventure with a dose of strategy and a sprinkle of fun. Happy betting, and may your parlays always be profitable!

Parlay Payout Calculator FAQs

💎 How does a moneyline parlay calculator work?

A moneyline parlay calculator works by determining the potential payout of a parlay bet that combines multiple moneyline bets. Using the calculator is a simple process, all users need to do is input the odds for each leg of the parlay accurately. The calculator will then take this information and convert the American odds to decimal formats. These odds are then all multiplied together and combined with the bettor’s stake to calculate the potential payout the bettor could receive.

❓ What is the difference between a parlay bet and an accumulator bet?

The key differences are that the Accumulator is a term commonly used in European markets, whereas a parlay bet is more commonly used in the North American market.

📌 Is football a good sport for parlay betting?

Yes, football is an excellent sport for parlay betting as there are a variety of bets that you can use in your parlay bet depending on your preference. You can also find the latest football news to help you out right here at Deadspin.

🚀 What happens if one leg of my parlay bet loses?

If one leg of your parlay bet loses then unfortunately your entire bet is lost and you won’t receive any payout.

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.
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