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Best Betting Sites UK / Betting Calculators / Parlay Calculator 2024: Calculate Your Parlay Odds

Parlay Calculator 2024: Calculate Your Parlay Odds

Publish Date:11/01/2024
Fact checked by: James Leeland

Parlay Calculator: Calculate Your Parlay Odds in Seconds

In the world of sports betting a parlay is mostly associated with American sports. Over in the UK, the term used would be an accumulator. This guide will be focused around the major sports in America in relation to a parlay calculator.

Parlay calculator



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By using our parlay calculator you can work out quickly what potential payout you would receive in your parlay bet. You can add and delete selections as long as you include more than two.

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What Is A Parlay Calculator & The Purpose Of Use?

Before understanding how to use a parlay calculator, it is important that you understand what a parlay actually is.

A parlay is regarded as a single bet that has two or more selections included. You can have a two-team parlay, a five-team parlay or even a seven-team parlay. The payouts will be higher with the more selections you have.

Using a parlay calculator allows you to create the bet you want and you will receive a projected payout. Each selection on your bet needs to win or tie for it to be successful. If any of your legs lose, then your bet is over.

What Sports Can Be Included In A Parlay Bet? 

With parlay bets being more of an American market, it makes sense they cover all the major sports in the country. The best UK bookmakers will still have markets available for all the major sports in America.

Here is a list of the sports covered in parlay betting:

  • NFL
  • NBA
  • MLB
  • NHL
  • MLS
  • College Football
  • College Basketball
  • Horse racing
  • Greyhound racing
  • Motor racing

Main Purpose Of A Parlay Calculator

Using a parlay calculator is the most effective way to work out your odds in a parlay bet. Yes, we could work them out manually but why should you do that when there is a calculator available?

In a world where everyone is in a rush and too busy to sit down and enjoy life, this parlay calculator saves you time and you can be assured that the calculations are always correct.

Combining Parlay Bets

As long as the bets you are making in a parlay are not connected in any way, then you can use most markets. The most popular markets are moneyline, spread and over/under. When we say a connection, you cannot have the moneyline and spread betting from the same game. You can have a moneyline bet and a spread bet from two separate games, but just not the same one. There is an option for same game parlays with some bookmakers which can see you combine a number of prop bets into one parlay.

How To Calculate Parlay Payouts

Our parlay calculator was created to make it easier for the punter when piecing together a parlay bet. It is easy to use and a good time saver, but some people like to do things like this manually. This section will show you how to calculate your potential winnings.

  1. First convert the American odds to decimal odds - this can be done on an online odds calculator.
  2. Multiply all the decimal odds together
  3. Multiply the answer in step 2 by your stake amount
  4. Subtract your original stake to get your parlay odds

So, say you are backing on the moneyline with three selections at -150. Once converted to decimal odds this will be 1.67.

The formula will be as follows:

  • 1.67 x 1.67 x 1.67 = 4.65
  • 4.65 - 1 = 3.65

4.65 in American odds would be +365 with fractional odds of just under 4/1

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How To Use Our Parlay Calculator

Using our parlay calculator is simple to use and stress free. It should not take you too long to get fully customised with the calculator.

Here is a brief step-by-guide on how to use our parlay calculator. Once you have familiarised yourself with the calculator you can try it for yourself.

  1. Open our parlay accumulator
  2. Insert your stake amount
  3. Add your moneyline odds - You can add other types like points spread and over/under
  4. Click on add team moneyline if you need more selections
  5. Click on Calculate
  6. You will then receive your parlay odds, the implied probability and the parlay payout

Here Is Our Parlay Calculator

Here is our very own parlay calculator. Spend some time getting used to the system. Insert some moneyline odds and see what the calculator comes up with.

Take your time to get familiar with how it all works. Create your own three-team parlay or even a seven-team parlay to see how the parlay odds and payouts change.

Parlay calculator



The Main Types Of Parlays

​​

Moneyline

Moneyline parlays are simple bets as you are just basically backing which team you think will win the match. You are best going through the wide range of betting tips before making your selections. Adding more selections to your parlay will increase your potential payout, while the more underdogs including in your parlay, the bigger that will become. Remember, all your selections need to win for the bet to be successful.

Point Spread

Point spread betting is very popular when it comes to parlays. This is the number given to create odds on a game. If you back the Dallas Cowboys at -7.5 to beat the Green Bay Packers, then the Cowboys would need to win by eight points to cover the spread. If Dallas won by just seven points, then it would be the Packers who would cover the spread.

Over/Under

The over or under market focuses on the points scored in a game rather than the actual winner. If you are betting on the NFL play-offs you could back over 36.5 points in the Pittsburgh Steelers versus Buffalo Bills match. This means for that to be successful, you would need the combined full-time score to have more than 37 points in it.

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Other Calculators We Offer - Take Your Pick 

Tricast Calculator

A tricast betting calculator can be used to help calculate your bet stake when considering how many selections you wish to add to your tricast or trifecta. This is very popular in horse racing where you are backing three horses to finish first, second and third in the correct order.

Arbitrage Calculator

Our arbitrage calculator allows you to enter odds of two or more different bets to see what profit you would receive and how much you should stake. If your return on investment (ROI) is negative, then you will receive no profit and the bet is not worth taking.

Asian Handicap Calculator

Our asian handicap calculator allows you to work out the payout scenarios for all your asian handicap bets. Asian handicap is a difficult market to understand, so having a calculator takes away any manual calculation. This calculator will take all the odds for your game and take into account the handicap side which will then allow the bettors to make their decision on whether to bet or not.

Dutching Calculator 

Dutching is a betting method that sees your stake divided over a number of betting selections. The dutching calculator allows you to work out how much you need to put on each bet in order to make an equal profit whatever the outcome.

Hedging Calculator

The hedging calculator is commonly used by more strategic punters and is used to work out how much you need to back or lay to guarantee any profit.

Kelly Criterion Calculator

In the Kelly Criterion calculator, you will need to enter the amount you have available to bet, the odds and the probability of it winning. The calculator will then tell you how much you should place on a certain bet to maximise your own profit.

Accumulator Calculator

An accumulator calculator instantly combines your selected odds into one accumulator. By doing this you can automatically work out what returns you would receive if the acca is a winning one.

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Simple To Use And Easy To Understand

Some betting calculators can take a while to get the hang of, but the parlay calculator is very straightforward. The majority of users will only need one or two attempts before they fully understand what they need to do.

Just like with the accumulator calculator, the hard work is done for you. Whether you need to calculate two selections or even eight, the parlay calculator will do it automatically. It saves a lot of time and you are always going to get the correct calculation.

We recommend using a parlay calculator just because of how simple it is. You do not have to follow a complicated formula that requires you to convert American odds to decimal odds. All you need to do is type in your odds and press calculate.

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Parlay Calculator FAQ

🏈 What Is A Parlay Bet?

A parlay bet features two or more match selections. For a parlay bet to be successful, you will need all your selections to be victorious. Due to the complexity of these kinds of bets, the potential payouts are occasionally quite high.

🧮 How Does A Parlay Calculator Work?

All you have to do is add your odds into the parlay calculator and it will calculate your potential payout. It is as easy as that.

You can use the majority of sports to place a parlay, but they are most common in the United States. This means that the most popular American sports like American Football, Baseball, Basketball and Ice Hockey are the most used on parlay bets.

🔢 How Do You Calculate The Odds On A Parlay?

Using a parlay calculator is the simplest route to go down. The calculator will automatically combine your odds into one bet. Some people like to work them out manually with a designated formula system.

✅ How Do I Get A Winning Parlay Bet?

Make a parlay bet of two or more matches. Most people use four and upwards. For that bet to be a winner, every selection has to come in.If one or more selections lets you down the bet is a losing one.

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