Whether you’re new to the world of online gambling or an experienced player that’s seen it all, a parlay odds calculator will likely be a useful tool.
Before jumping into the mathematics of how to calculate a parlay, we’ll first explain exactly what a parlay bet actually is. Essentially, a parlay bet is a bet where multiple outcomes are combined to create one bet, with all the odds of your selected bets being tied together. If you’re familiar with accumulator bets, then parlays will be easy to understand as they’re the same thing.
Using a calculator to work out the return on your parlay bet is a great way to see what you can win before committing to laying down the bet. On our parlay calculator below, you can select up to 15 teams or bets quickly, and see the potential win amount should your wager come in. You can also use any free bet offers from sportsbooks when selecting your parlay.
Parlay bets are beneficial to bettors as they often save money and can be far more profitable than standard single bets, albeit with a greater risk of losing. To win a parlay bet, each of your selections must come good. Even if you’ve chosen 15 bets and 14 of those end up winning, that single loss will prevent you from securing the win. With this information in mind, it’s usually not worth creating a parlay bet jam-packed with favorites. Doing so will require that you wager more money and add more selections to win the big bucks, which actually decreases your chances of being rewarded a profitable return.
You may be wondering how you can calculate a parlay or an accumulator yourself. To do so, we recommend using a parlay calculator app or a website that offers a free parlay calc. There are some simple formulas to keep in mind when putting your parlay together, and we’ll go through them now.
There’s no need to be an expert at math to understand the ins and outs of a moneyline parlay calculator. The first thing to understand is single moneyline bets. A moneyline bet is where the bettor chooses a specific outcome, like a win. By putting multiple moneyline bets together, you get the parlay bet.
Say, for instance, you plan to bet on a soccer game involving Liverpool and Leeds United. Your favorite sportsbook offers similar odds on both sides, so it makes sense to bet on a Liverpool victory as they’re the better team. In this case, the online casino has Liverpool to win the game at -4,000 and Leeds at +3,800.
As you can see, odds are made up of a plus sign, minus sign, and numbers. These are the three most important elements to moneyline betting. The minus represents the favorite, while the plus symbol tells you which team is the underdog. By looking at the number, it’s possible to calculate your profit for each bet.
Finding your profit when betting on the underdog is relatively easy, considering the number beside the number beside the plus symbol tells you exactly how much you’d win if you were to wager $100 on that outcome. In the Liverpool vs Leeds encounter, a $100 bet on Leeds United would result in a $3,800 win for the bettor. The formula is: Wager divided by 100, multiplied by the moneyline = total profit. We found the profit from betting on a Leeds victory by dividing our wager of $100 by 100, then multiplying that number (1) by 3,800.
To calculate your profit when betting on the favorite, you’ll use a similar formula: 100 divided by the moneyline, multiplied by the wager. Using our example of Liverpool vs Leeds United, we would divide 100 by 4,000, then multiply the result of that (0.025) by our wager ($4,000). This equals $4,000. Therefore, we now know that it would require a $4,000 bet to earn $100 profit. Of course, all this can be done without straining your brain by using the gambling calculator above.
You don’t need to get a pen and paper out every time you want to calculate the odds of your football parlay odds, although some people prefer to do it that way rather than using an accumulator bets calculator. To find the odds of a parlay bet, simply convert your odds to decimal form and multiply them one by one. For example, imagine you’ve chosen five selections at odds of -350, -200, -225, -450, and -500. In order, these convert to 1.29, 1.5, 1.44, 1.22, and 1.2. By multiplying each of these together, we get odds of 4.07. For one dollar that you bet on these odds, a win would return $4.07. So, if you placed a bet of $10 with these odds, you’d win $40.70 in profit. In US odds, 4.07 reads as +307, so your bet would be a favorite.
There are two neat methods you can use to find out what the decimal to moneyline conversion is. The first is for decimal odds less than 2.0, and the other for decimal odds worth more than 2.0. To find your moneyline odds from decimal odds less than 2.0, divide the difference between the decimal odd and 1 by -100. Afterward, round up to the nearest whole number. To discover your moneyline odds from decimal odds greater than 2.0, take the difference between the decimal odd and 1, then multiply it by 100.
You don’t need to choose a fancy Las Vegas parlay calculator, most sportsbooks will provide a parlay calculator when you add your wagers to the betslip. You can, of course, use our free online moneyline parlay calculator above and it will do the exact same job, for free. Even if you’re just looking for a 2 team parlay payout and high-risk bets don’t particularly interest you, a parlay calculator odds feature can make things significantly easier.