Are you looking for the best parlay calculator for sports betting? Whether you’re just looking for the payouts of multiple sports bets or want to learn the odds of a specific bet, a parlay calculator is just the thing you need.
That’s why we would like to discuss our favorite subject in this article: betting on sports! Specifically, we’re going to talk about a tool we created at oddsscanner.com/us that makes it much easier to find the best sporting event bets and parlays.
How to Use Our Parlay Betting Calculator
Our Parlay calculator allows you to enter all of the odds for each individual bet that makes up your parlay and see how much you could win if everything came through with your parlay payouts. Here’s how to use our free parlay calculator:
- Select the odds format (American, decimal, or fractional odds)
- Input your individual bet odds
- Input your bet amount
- Click on the calculate button.
The parlay calculator will show you two things: how much profit you can make by placing a parlay bet and the probability of winning the bet you’ve put in.
Why Use a Parlay Bet Calculator?
Because a parlay bet is a combination of two or more wagers that rely on each other to win, using a parlay calculator is easy and can save you time while researching your bets. For example, if you bet on three teams and they all win, then the parlay payouts are higher than if you had just bet on one team.”
The problem is, it’s not easy to do. The process involves multiple permutations and calculations that, more often than not, will prove too much to handle yourself, which is where our free parlay calculator can help out.
Calculating a Parlay Bet
The payoff for the parlay bet is determined by the odds on each bet in the parlay. Therefore, you will need to know each bet’s payout to calculate your potential winnings from the parlay. It’s calculated as follows:
Bet 1 Payout (x) = (Bet Odds) x (Bet Amount)
Bet 2 Payout (y) = (Bet Odds) x (Bet Amount)
…
Bet n Payout (n) = (Bet Odds) x (Bet Amount)
Then the total odds for the parlay bet are calculated using the formula:
Odds = (1/x) * (1/y) * (1/z) * … * (1/n)
Where x, y, z, and n are all the individual event payouts.
Looks a bit too tricky? Here are a few practical examples to help you understand the calculation process.
2-Team Parlay Payout
To calculate the total payout for a 2-Team Parlay Bet, you will need to add up all of the individual payouts for each team.
For example, if your first team wins and pays out at 1.50, and your second team wins and pays out at 1.20, then the total payout would be:
(1.50*1)+(1.20*2) = 3.90
This final value represents how much the total payout of a 2-team parlay bet would be as a factor of the wager amount you put on for the parlay bet.
6-Team Parlay Payout
As we did above, you need to calculate the odds of each game to get the total payout value.
For example, if the first three teams win and payout at 1.20, and the last three teams win with a 1.60 payout, the total payout would be:
(1.20*1)+(1.20*1)+(1.20*1)+(1.60*3)+(1.60*3)+(1.60*3) = 8.40
This final value represents how much the total payout of a 6-team parlay bet would be as a factor of the wager amount you put on for the parlay bet.
3-Team Parlay Odds
In this instance, you would calculate parlay odds for the three teams by multiplying each team’s odds against each other. So, if you have three teams, you can multiply them and get their combined odds.
If each team’s odds are set at 1.35, and you aren’t working with a parlay builder, the calculation would look like the following:
Total Odds = 1.35 *1.35 *1.35 = 2.46
7-Team Parlay Odds
The odds of a 7-team parlay are slightly different than the odds of a 3-team parlay. The calculation is:
If the odds for the first four teams are set at 1.2 and the last three teams at 2.0, the calculation will look like the following:
Total Odds = 1.2 *1.2 *1.2*1.2*2.0*2.0*2.0 = 6.912
Parlay Calculator For All Major Sports & Leagues
You can use our sports betting parlay calculator for all major sports and leagues, including the NFL, NCAAF, NBA, MLB, NHL, EPL, and many more. To use the parlay calculator, simply enter the number of teams you want to bet on and the payout odds, and the calculator will do the rest!
Football Parlay Calculator
Our football parlay calculator is a handy tool that allows you to calculate your chances of winning parlays in your favorite football matches by entering your picks (you can enter up to 10 teams), and the total payout will be displayed immediately.
Baseball Parlay Calculator
In baseball, it is common for bettors to use parlay bets because there are so many games and a lot at stake. The best way to make money from these types of bets is to use a parlay calculator that allows you to create your combinations. This way, you can control your odds and ensure you get good value.
Basketball & NBA Parlay Calculator
The Basketball & NBA Parlay Calculator lets you enter the total amount of money you have earned on a given day. You would then select one or more games from our database of over 2,000 basketball and NBA games, enter their payouts and odds (if you know them), and click ‘calculate.’
Other Sports Parlay Bets
Our parlay calculator can be used for any sport in the world (think hockey, golf, soccer, etc.), but we’ve chosen some of the most popular games and leagues to demonstrate how easy it is to use our tool. All you’ll need to do is enter the odds and payout of each wager and then click on “Calculate” to get the accurate figures you need.
Are Parlay Bets Any Good?
For non-parlay bettors, the combo wager carries a certain stigma that many players are not comfortable using them. However, in the right situations, these wagers allow you to make more money on a given day than you would have without them.
And with our betting calculator to help with the numbers, you can always find those sweet spots for a combo bet planned for your favorite future sporting events.
FAQs about Parlay Calculator
What is a parlay in sports betting?
In sports betting, a parlay is a wager that requires you to pick multiple games correctly in order to win money from the bet. A typical example would be betting on two football games and hoping both teams win their respective matches, thus bringing you a profit.
How do you calculate a parlay?
There are a couple of ways to do this. The first way is to simply multiply the odds of each team by their payout ratio and add them together to get your total payout.
The other way is to use our parlay calculator here. You can put in any amount of money you want, and it will automatically calculate how much you would win depending on how many teams you have in a given parlay.
What does a $100 3-team parlay pay?
A $100 3-team parlay pays out the cumulative value of each bet. If you bet on three different teams, each must win for you to win the parlay.
How to calculate a push in a parlay?
The same way you do with other sports betting: add up the point spreads and totals. The game is called a push if the outcome is a tie. If you bet on an underdog and the game ends with the same score as when you placed the bet, this is considered a tie or push, and both teams will get their money back.
