Online Betting / Parlay Calculator

Parlay Calculator: Fast, Easy & Free Calculations for Parlays

James Leeland
Editor
Fact checked by: Jim Knight
Last Updated on 15.05.2024

A parlay calculator truly is an innovative tool for instantly calculating the odds, probabilities, and payouts for various different parlay bets. It’s a game-changing calculator that removes guesswork from parlay calculations, saving you both time and effort.

This page is going to serve a guide for using our calculator for parlays. From understanding what a parlay actually is to understanding how our own calculator works, we’ll provide the knowledge necessary for confidently calculating parlay odds to use to make informed betting decisions. In the end, you’ll certainly be able to gauge parlay odds confidently.

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Set up Your Prlays with the Help of Our Free Calculator

Parlay calculator



Parlay Bet Calculator: What Exactly Is It?

Essentially, the parlay bet calculator just simplifies calculating potential returns from parlay bets – bet types which combine multiple selections into just one single wager with odds from each selection rolling over into the next selections. While they aren’t usually the easiest of bets for a novice to get a grasp of, they can sometimes be highly successful.

What It Does and How It Helps

The mechanism behind betting calculators like a parlay calculator is straightforward yet powerful. Users start by just entering their bet details, such as the odds for each selection in their parlay bet and stake they plan to wager, into the calculator. It then uses these specific inputs to compute the total parlay odds, the potential payout and the implied probability for that parlay to occur. Thereby, it saves time with manual calculations while decreasing errors that could prove costly in sports betting.

Making Sense of Parlay Bets

A parlay bet (commonly referred to as an accumulator or combo bet) combines multiple individual bets into one larger wager in the hopes of creating greater returns than placing each selection individually would. A parlay’s appeal lies in its potential higher payout even with a small stake, since odds multiply when placing multiple selections together. However, its risks increase dramatically as any single loss among them results in its total collapse.

Using the NFL to Illustrate

Imagine placing an NFL parlay bet that includes three teams like the New England Patriots, Green Bay Packers and Dallas Cowboys, and you believe all three will win their respective games within one week.

At -149.25 (1.67) for Patriots games, +122 (2.22) for Packers, and -109,89 (1.91) for Cowboys respectively, the combined odds calculated by a parlay bet calculator would provide a significantly greater return than betting individually on each game.

Imagine your stake size is $10. Assuming all three teams win, the initial stake plus winnings from the Patriots’ game rolls over to the Packers, and then that total rolls over to the Cowboys. This compound effect could, for instance, turn the initial $10 wager into a return of around $60, illustrating the allure of parlay bets for achieving sizable payouts from a relatively small stake.

Advantages of Parlay Betting

Parlay betting’s appeal lies primarily in its promise of substantial returns with minimal initial investments, if the parlay is successful, of course. Though, it’s not just the increased potential returns from relatively modest stakes; it’s also the excitement and challenge of strategizing multiple events at once, creating greater engagement and satisfaction from successful selections.

Parlay betting can be an effective strategy for experienced bettors with extensive knowledge in multiple sports or events and who are looking to leverage their expertise. By artfully selecting related bets that have more probable chances of winning together, parlay betting allows them to capitalise on their hard-earned research for a fulfilling experience.

Best Sports for Parlay Bets

Parlay betting thrives in US sports, thanks to their constantly shifting games and seasons that provide ample opportunity for multi-bet strategies. Leagues such as the NFL, NBA and MLB offer ideal conditions for parlays with frequent matches and various betting markets that allow bettors to form multi-bet strategies.

  • NFL (National Football League): The NFL is an obvious choice for parlays, due to its immense popularity. An extensive range of markets is always available, such as point spreads and moneylines or over/under bets. Moreover, the NFL’s structured schedule, with most games concentrated on Sundays, allows bettors to research and make informed decisions ahead of time. The wealth of statistical data available for teams and players as well as performance indicators, such as yards per game, turnovers, and even scoring efficiency, enhances the strategy behind each selection in a parlay.
  • NBA (National Basketball Association): Basketball’s high-scoring nature and daily action makes the NBA an excellent venue for parlay betting, offering multiple wagering combinations. Additionally, its predictability, with certain teams or players frequently performing well coupled with its fast-paced game dynamics, allows bettors to make informed predictions regarding game outcomes, point spreads, and total points scored. Furthermore, the availability of detailed player statistics and team performance records aids in crafting a more strategic approach to selecting bets.
  • MLB (Major League Baseball): The MLB offers many betting opportunities across its 162-game season, making it an excellent sport for parlay betting. Each day presents numerous games and the variability in game outcomes, influenced by pitching matchups and team form, provides skilled bettors with a chance to use their insights for winning parlays. Additionally, like in the NBA and the NFL, the depth of statistical data supports informed selections.

Our Top-Quality Parlay Calculator

Maximise your parlay betting strategy with our cutting-edge parlay payout calculator, designed to make it simple. This innovative tool helps you quickly assess potential payouts, aiding in smarter bet combinations and strategic planning. Just add your stake, insert your moneyline odds in American format, and calculate! You’ll see the parlay odds displayed as well as the implied probability and the potential payout.

Parlay calculator



3 Key Reasons to Use a Calculator For Parlay Bets

Our sports betting parlay calculator will help to unleash the potential of your parlay bets. It is more than just any simple calculator! It’s your ticket to understanding and maximising your bets with ease.

1. Streamlines the Betting Process

The calculator streamlines the betting process by eliminating manual calculations and guesswork, making the experience faster, simpler, and user-friendly. That includes beginners who find calculations daunting as well as experienced ones wishing to quickly assess different betting scenarios.

2. Facilitates Smarter Betting Decisions

By providing accurate calculations of potential payouts, the calculator allows bettors to make well-informed decisions. It enables bettors to explore various betting combinations without risking real money. As a result, bettors are able to better evaluate which parlay bets offer better value and can compare different outcomes according to odds and stakes differences. Ultimately, using the calculator increases the chances of making profitable bet choices by providing clear insight into the risk vs reward aspects of parlay betting.

3. Enhances Understanding of Complex Bets

The calculator is invaluable for demystifying the complexities associated with parlay betting. It aids users in grasping how outcomes in multiple games or events affect their overall returns. This element of sports betting or combined bets is particularly critical for those new to either of them. Having a visual aid that illustrates how each part of a bet contributes to its total potential payout enables bettors to better comprehend parlay mechanics.

Leading Bookmakers for Parlays

To maximise your parlay betting success, selecting the right betting sites is crucial. Below, we’ve listed leading bookmakers where you can find plenty of odds in your favourite leagues to try out parlay betting.

1.
Bet365
  • Bonus: First Bet Safety Net up to $1000 OR Bet $5 and Get $150
  • VIP Club, Loyalty Program
  • Cash Out, Partial Cash Out
Play Now
At bet365 we don’t do ordinary, that’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
2.
BetMGM
  • Bonus: Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
  • VIP Club, Loyalty Program
  • Cash Out, Live Streams
Play Now
T&Cs apply, 21+
PayNearMe
Skrill
PayPal
Bank Transfer
+9
3.
DraftKings
  • Bonus: 20% up to $1000
  • VIP Club
  • Cash Out
Play Now
T&Cs apply, 21+
PayPal
VIP Preferred
Play+
Discover
+5
4.
BetRivers.com
  • Bonus: Second chance bet: Get up to $500 in Bonus Bets
  • VIP Club
  • Cash Out, Live Streams
Play Now
T&Cs apply, 21+
PayNearMe
Bank Transfer
VIP Preferred
PayPal
+6
5.
FanDuel
  • Bonus: Bet $5 Get $150 in Bonus Bets if your bet wins
  • VIP Club
  • Cash Out, Live Streams
Play Now
T&Cs apply, 21+
Prepaid Card
PayNearMe
PayPal
Bank Transfer
+8

Get the Best Out of Our Free Parlay Calculator: 3 Tips

Our free parlay calculator is more than just a tool. It’s your key to unlocking greater success in betting. Here are three essential tips to help you leverage its power efficiently and effectively.

Shop Around for Parlay Bonuses

One effective strategy to enhance your parlay betting strategy is shopping around for the best parlay bonuses and promotions from bookmakers which specifically cater to these bets. These can significantly enhance your potential returns or reduce the risk involved. Compare sportsbooks’ offers such as parlay insurance – whereby your stake can be returned should just one selection let you down – and bonuses that boost winnings on parlays with certain legs.

Keep Your Moneylines to a Minimum

An effective strategy for placing parlay bets requires keeping moneylines to a minimum. While adding multiple moneyline bets might seem tempting in order to increase potential payouts, doing so increases risk significantly and may lead to an entire parlay failing. Instead, select several bets that you are confident with and consider incorporating a mix of bets with varying odds to balance the risk and reward of your parlays.

Use the Over/Under Feature

One often-neglected strategy when engaging in parlay betting is making use of the Over/Under feature, which enables bettors to predict total points scored during a match. By doing so, you add another level of speculation that doesn’t depend solely on who wins or loses and focuses more on the event’s overall performance metrics. It can be helpful when predicting an outright winner is difficult and it could potentially open new avenues for winning bets.

Other Useful Betting Calculators to Try

In the complex world of betting, diversification can be your ally. Here are a variety of calculators that every savvy bettor should experiment with to further advance their betting strategy and increase winning potential. From a hedge betting calculator to arbitrage calculators, these tools may give your strategy a much-needed boost.

Wrapping Up Our Guide to Parlay Calculators

A parlay calculator is an indispensable asset to those aiming to improve their betting strategy through strategic combination bets. By offering a structured method for analysing potential winnings and weighing risk/reward ratios of different combinations, this calculator helps bettors piece together stronger selections. Integrating a free parlay calculator into your routine can significantly enhance your ability to create better parlays, not only crunching numbers but also deepening your knowledge of betting mechanics that ultimately leads to more strategic and confident combo bets being placed – all for free.

Betting Bonuses that Complement Our Parlay Calculator

Unlocking additional value in your bets can significantly impact your overall betting experience and outcomes. Below, we explore some online betting bonuses that could complement your betting strategy when using our parlay odds calculator and give your betting strategy an edge.

1.
Bet365
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
Play Now
At bet365 we don’t do ordinary, that’s why if you sign up now you’ll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
2.
BetMGM
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Play Now
T&Cs apply, 21+
PayNearMe
Skrill
PayPal
Bank Transfer
+9
3.
DraftKings
20% up to $1000
Play Now
T&Cs apply, 21+
PayPal
VIP Preferred
Play+
Discover
+5
4.
BetRivers.com
Second chance bet: Get up to $500 in Bonus Bets
Play Now
T&Cs apply, 21+
PayNearMe
Bank Transfer
VIP Preferred
PayPal
+6
5.
FanDuel
Bet $5 Get $150 in Bonus Bets if your bet wins
Play Now
T&Cs apply, 21+
Prepaid Card
PayNearMe
PayPal
Bank Transfer
+8

Parlay Bet Calculator FAQs

✖ What is a parlay bet?

A parlay bet always combines multiple individual bets into just one bet. It also always requires all selections within it to win in order for it to ever pay out. It may offer higher returns than placing individual wagers. However, the risk is also greater since the failure of just one selection means the entire parlay is lost.

📊 I input the odds of my selection; what is NaN mean?

Our parlay bet calculator uses American odds only. Double check that you aren’t using other odds formats, and if you are, convert them first with our Odds Calculator.

💸 Are there betting bonuses for parlay bets?

As parlays offer such high risks-reward ratios, many sportsbooks provide them with specific bonuses and promotions tailored specifically for them. Such incentives could include parlay insurance (in which if one leg of their parlay fails, bettors could potentially receive a refund as free bet), enhanced odds on certain combinations or an added percentage bonus depending on its total legs.

🥇 What exactly does Parlay Payout mean in the calculator?

If you input your odds and stake correctly, our moneyline parlay calculator will show you the parlay payout, which is how much profit you would make on your parlay after subtracting your original stake.

⚾ What sports are best for parlay bets?

Parlay bets can be uniquely exciting across various sports, often depending on personal preference and expertise. However, sports like American football, basketball, and baseball are particularly popular for parlay betting due to their frequent games and extensive statistics available for analysis.