Our free-to-use Parlay calculator will work out the odds and return on your parlay in no time. Calculate the odds on any number of parlays, with the option to add up to 15 teams or selections.
The parlay calculator is quick and simple to use. Just add in the moneyline odds into the bet line, you can add up to 15 selections in total. If you pick a favorite, you must enter the moneyline with a minus (-) (-110 for example). Press add bet to add more lines up to 15 bets. Enter your bet amount, then hit calculate. This will return 2 figures. How much you will win and what the payout will be including your original stake.
The calculator can easily be used on mobile and on desktop to see potential returns of your wager in just a few clicks.
As sports betting continues its expansion across the United States, there may be terms you come across regularly. Visit any online sportsbook, and you are likely to encounter phrases such as moneyline bets, parlay odds, MLB parlay, or prop bets. These are all different types of wagers that are typically found on sports betting websites and sports betting apps. Here, we are going to focus on the parlay bet and, in particular, how to use a parlay odds calculator.
Understanding a parlay calc will help you to determine your parlay payout. Additionally, you can use it to decide if you should do a two-team parlay or add more teams. Betting tools such as a free parlay calc or a moneyline parlay calculator are beneficial. They can help players find out exactly how much they could win and if the bet amount is worth it.
What Is A Parlay?
Before we delve into the details of how to use a parlay calculator app, let’s look at what a parlay bet is. This type of wager links together two or more individual bets to create a high payout. For example, a 2 team parlay payout may be 13/5, a four-team parlay might pay 6/1, a five-team parlay might pay 10/1, and on it goes. The payouts increase the more teams or totals are selected. Nowadays, online sportsbooks such as BetMGM offer daily parlay boosts; Sign up at betmgm.com to check out the latest parlay offers.
For a parlay or an accumulator to win, every one of the games or legs selected must win. If any of the choices lose, the overall wager loses, regardless of the outcome of the other games. If one or more of the selections is postponed, canceled, rescheduled, or finishes in a tie, the bet reverts to the next lowest number. For example, if you place a six-team parlay and have five winners and a tie, your bet pays out as a five-team parlay. If you submit a two-team parlay and one team wins and the other is a tie, this is now a straight bet.
The resulting bet will carry the same risk amount as the win will be calculated to reflect the odds of the remaining team.
How Do I Calculate A Parlay Payout?
Typically sportsbooks calculate parlay payouts for you, or you can use our sports parlay calculator above. The math of this works the same whether you are using a Las Vegas Parlay calculator or a straightforward accumulator bets calculator. So let’s look at the numbers of how to calculate a parlay.
First, you need to convert the American odds to decimal odds using an odds converter. Next, multiply the decimal odds together to get your multiplier. Then you need to multiply the multiplier by your bet amount and subtract your initial stake to get the parlay odds.
The most straightforward way of doing this is to pick a calculator using American odds. For example, you could enter American odds such as +140 into the calculator, and this will automatically convert to 2.4
Using the above +140 as a gambling calculator odds example, the formula works like this:
(140/100) +1 = 1.4
1.4 +1 = 2.4
Players can convert the odds for each game of the parlay into a decimal format, like in the example above. If we look at a more complicated model and decide you want to bet on some big favorites on the moneyline as you are feeling confident they will win but aren’t convinced they will cover the spread.
You decide to bet on the Seahawks -300 against the Jaguars, the Ravens -200 vs. the Lions, and the Rams -150 at the 49ers. The formula looks like the below in decimal odds:
1.333 x 1.5 x 1.667 = 3.33
The above parlay on the Seahawks, Ravens, and Rams to all win pays +233. Football parlay odds can offer some fantastic payouts, especially as some sportsbooks offer odds boosts.
How To Use The Parlay Calculator
Our betting calculator above can be used for all types of parlay wagers, including same game parlays. It is easy to use and converts fractions or decimals into American betting odds instantly. To use the above parlay bet calculator, select parlay bets and enter your preferred odds format. Then enter the amount of money you want to bet in the bet amount.
You are able to enter as many bets as you like; you just need to click the plus symbol when entering betting odds to generate another field. Let’s say you wanted to utilize the calculator to check the payout on a $50, four-team NFL parlay with both moneyline and spread wagers. The individual odds are listed below:
New England Patriots -10, (-110)
New York Jets Moneyline (+140)
Buffalo Bills -9 (-108)
Minnesota Vikings moneyline (+295)
When using the parlay calculator, you can ignore the point spread. In this example of an NFL parlay, you would fill out four spots with odds of -110, +140, -108, and +295. The results will instantly reveal that this would pay out $1,692.78 on a successful $50 wager.
Should You Make A Parlay Bet Or Not?
As we have mentioned throughout this article, parlays can be highly lucrative. Additionally, parlays allow bettors to get involved in numerous contests without having to bet every game or match individually. There is also a customizable element of a parlay bet, as you could bet $100 on a two-team parlay or $20 on a six-team parlay. You can land huge payouts from small wagers. However, this must be countered with the fact that parlays are very hard to win, hence the potential large payouts.
In terms of pure entertainment, parlays are an excellent choice. Joining your friends and plotting a long-shot parlay keeps you invested and adds excitement to a typical NFL Sunday where a single bet may not. It is also important to know that you can back out of a parlay before the wager is settled.
If the first four legs of a five-team parlay are successful, you could bet the other way on the fifth leg to win money no matter the outcome.
Best Parlay Betting Markets
Ultimately the best sports markets for a parlay bet will come down to personal preference. All major online sportsbooks offer a wide range of odds and specials on the NFL, NBA, MLB, and NHL. Parlays work particularly well in the NFL as you can place your bet on a Sunday morning and wait for the full slate of games to take place. This will keep you interested in all of the games.
Parlays are available on all significant domestic sport, so it is a case of wagering on the market you feel most comfortable with. After all, we always bet to win, so it makes sense to give ourselves more of a chance.
How much does a 15 team parlay pay?
A 15 team parlay could potentially pay +16,000. However, every leg will need to win for it to be a success, which is unlikely.