A parlay calculator is a betting tool that aids gaming investors find out the odds and results of a parlay bet. A parlay, also known as an accumulator, is 1 bet whose results are usually determined by 2 or even more underlying bets.
Enter the price of each pick above (-210, -165 & -120) into the parlay calculator along with the wager size. If you entered everything correctly the payout should read $33.46. The heavy favorites in the parlay decrease the size of the payout. Now look at this $10 parlay of NFL underdogs: Philadelphia Eagles +180; Indianapolis Colts +250. Follow the steps below to calculate your parlay bet: Enter your total stake in the Bet Amount field. Enter the odds of the first leg of your parlay bet in American format. Hit enter or click the plus icon to add the bet to your parlays.
When successful, it offers greater returns to the investor since it links up many events for a higher payout. If the parlay is to win, each of the bets must win. If one happens to lose, then the whole bet ends up in a loss, regardless of the outcome of all the other games.
How Do Other Results Affect Parlay Results?
There are other results that can affect the parlay results such as:
- A tie
- Game postponement
- Cancellation
- An incomplete game
- Rescheduling.
As long as there is no loss, the wagers typically revert to the next lowest number.
How to Use a Betting Odds Calculator
There are different options of the calculator found online. A majority is available free of charge. An example of a simple one is shown in the table below.
| Team | Odds |
|---|---|
| Team #1 | 0 |
| Team #2 | 0 |
| Team #3 | 0 |
| Team #4 | 0 |
| Team #5 | 0 |
50 |
Wager Amount
Payout $0
Calculate | Reset All |
When using a parlay odds calculator like the one above, all you need to do is enter the correct figure of odds in the table. In most cases, you are only allowed to enter numbers and nothing else.
From here, you will be required to type in the money lines for each bet you place as well as the total amount you would like to wager. Once everything is in place, just hit the calculate button. The payout field will give you the results of the amount that you will end up getting if each of the parlay games wins. If there are other parlay odds that you would like to calculate, just click on the reset all button and start the process all over again.
There are some calculators that will give you choices on how to display all the odds such as:
- Decimal odds
- American odds
- Fractional odds.
It can be very confusing trying to calculate parlay payouts on your own mainly because you are dealing with multiple teams. There is no need trying to wreck your brain over this because you can simply use the beneficial calculators that will give you the total to expect in no time. Armed with these results, you can confidently head over to your preferred sportsbook to place a parlay bet.
Odds Calculator
Our odds calculator allows you to input your odds in American (e.g. +125), Fractional (e.g. 5/4) or Decimal (e.g. 2.25) odds and your total stake, and immediately calculates your potential winnings & payout for the bet
Open CalculatorParlay Calculator
A parlay is a single bet that multiplies two or more individual odds from multiple events for a much higher overall payout. In order for the parlay to win, each game must win or push (tie). If any of the games lose, the entire bet loses.
Open CalculatorSure Bet Calculator
Use Sure Bet calculator to check whether given odds create a risk free sure bet (sure win, arbitrage bet) opportunity. Simply enter the total amount you wish to bet and the odds for each outcome and the calculator will immediately calculate the stakes for all outcomes, your potential winnings & payout and the risk free return (profit or loss).
Open Calculatorsingle
Odds are numbers, which are used to calculate the winning ratio for any given stake. In general, the rule is - the higher the odds, the lower the probability of winning.
Yes, you can always change the format in which you view the odds. In addition to decimal (European) odds, you can switch formats to fractional (UK) and American odds. If you are registered, you can choose from the list of different formats at any time by clicking the link in your profile settings. You can then use those settings across devices. If you do not have an OddsExplorer account yet, the link is available in the left column, above the indicated time zone.
The payout is the percentage returned to the bettors in total and is the opposite value of the bookmaker’s margin. For example, if you were to bet €100 on outcomes with a 92% payout, you would get back €92 from each bet on average. The bookmaker's profit would be the remaining €7. On larger payouts, bookmakers operate with lower margins and higher odds. On average it is always better to use bookmakers with a high payout to place your bets.