Parlay Calculator
This Parlay Calculator helps new and professional bettors calculate whether they are getting a fair deal from their sportsbooks.
Parlays provide bettors with the exciting opportunity to earn large profits from relatively small stakes. However, you can end up paying a significant premium over the true mathematical odds when you roll several selections into a single wager.
This parlay calculator helps you work out whether you are getting a fair deal from your sportsbook.
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Betting CalculatorsWhat is a Parlay?
A parlay is a single wager that features multiple selections. These selections are known as legs. It is referred to as an accumulator, or an acca, in some countries.
The idea is to roll multiple predictions into a single bet in an effort to generate a large profit. Each selection must prove correct in order for your parlay to pay out. If just one leg lets you down, your parlay will crash and burn. However, if they all pay off, you will earn a far larger profit than you would have made by betting on each selection individually.
For example, you could bet $10 on the San Francisco 49ers to cover the spread against the LA Rams at odds of -110, $10 on the New York Giants to cover against the Dallas Cowboys at -110, and $10 on the Seattle Seahawks to cover against the Arizona Cardinals at odds of -110, for a total stake of $30.
If all of your predictions were successful, you would earn a profit of $29.70. However, if you rolled all three into a $30 three-team parlay, you would earn a profit of $178.74 if all three selections were winners.
That assumes that you are getting a fair parlay payout at your sportsbook. You can use our parlay calculator to ensure that is the case.
How Are Parlay Odds Calculated?
True parlay odds are calculated by figuring out the return you stand to earn on each selection and multiplying those figures together. The easiest way to manually calculate the combined odds on a parlay bet is to convert each selection from American odds to decimal odds.
For example, let’s say you are interested in combining these selections:
#1. Atlanta Braves to beat Toronto Blue Jays at -150 (1.67 in decimal odds)
#2. Philadelphia Phillies to beat Washington Nationals at -108 (1.93)
#3. New York Yankees to beat Tampa Bay Rays at -131 (1.76)
#4. Arizona Diamondbacks to beat Miami Marlins at +105 (2.05)
You would then multiply these money line odds together: 1.67 x 1.93 x 1.76 x 2.05 = 11.62. That tells you the odds on this four-team parlay should be 11.62, which is +1062 in the American odds format.
How to Use This Parlay Calculator
The process explained above is laborious and time-consuming, and it also provides the potential for human error to creep in. Our free parlay calculator does all the hard work for you. It also helps you understand if your sportsbook is charging you an excessive premium on parlays.
Follow these steps to use our free parlay calculator, as listed previously in the example atop the page.
1. Enter the odds being offered on your bet slip at your sportsbook
2. Enter the amount you want to risk (bet amount), or the amount you hope to win from a successful parlay.
3. You can use the “Line Set” box if you want to calculate the premium you are being charged. The line set is the cumulative total of the juice charged on both sides of a bet. For example, if it is a spread bet, with odds of -110 on either team covering, the sportsbook is charging $0.10 on each side, resulting in a total line set of 20. If the odds are -105 on both sides, the total line set will be 10. You can ignore this box if you only want to calculate the potential profit you stand to make on a parlay.
4. Enter the number of selections in your parlay. For example, enter “4” if you are placing a four-team parlay. The maximum is 15.
5. Enter the odds available on each selection. If you enter decimal odds, they will automatically be converted to American odds.
6. Click “Calculate” and our free parlay calculator will instantly work its magic.
The parlay bet calculator will then tell you the implied mathematical odds on your parlay and the true parlay bet odds you should expect to receive. It will also inform you of the true parlay win amount, and the premium you are paying.
Benefits of Using Our Parlay Odds Calculator
Parlay betting can potentially be very lucrative, but it is notoriously difficult to land a successful parlay. Every time you add an additional selection, you increase the overall house edge. It is therefore important to see the premium you are being charged over the mathematical odds. That can help you decide whether placing a parlay bet is worthwhile.
You can also use this calculator to see if your sportsbook is offering you the correct odds on a parlay. If the true calculator odds are significantly higher than the odds offered on parlays at your sports betting site, it might be time to try a different sportsbook.
Best Sportsbooks for Parlays
BetOnline and Bookmaker are among the best sportsbooks for placing a parlay bet. They allow you to select up to 15 selections, and they are renowned for offering the true parlay odds. For example, a two-team parlay in which both teams are priced at -110 should work out at +264. A lot of sportsbooks will only offer +260, but you can generally find +264 at top sportsbooks such as those listed in the best sportsbooks page at BMR.
