Parlay Calculator: How To Calculate Parlay Odds & Parlay Payouts
- Parlays are well-liked betting options that let gamblers combine multiple bets for greater rewards and odds.
You may browse Various betting sites for updated odds and all year long for thousands of events and dozens of sports.
Even though parlay odds are automatically computed and shown on your bet slip, understanding how to calculate parlay odds can be useful in determining a parlay bet's low-risk, high-reward potential.
Parlay Calculator: Odds & Payouts
There are three steps to calculate parlay odds and payout:
1 - First, change American odds into decimal odds using a betting odds converter.
Decimal odds show the amount you win for every $1 gambled (e.g., 1.8 is $1 to win $1.80), whereas American odds represent the amount you can win for every $100 invested (e.g., +120 is $100 to win $120) or the amount you must wager to win $100 (e.g., -200 is $200 to win $100).
Here are the decimal odds for a three-leg NFL parlay:
Bucs (-275): 1.36
Bills (-275): 1.36
Rams (-350): 1.29
2 - Second The multiplier is obtained by multiplying the decimal odds: 1.36 x 1.36 x 1.29 = 2.39. Additionally, you can convert the decimal multiplier back to American odds for the updated parlay odds (+139) by utilising the betting odds converter.
3 - Third, to calculate your reward, multiply the multiplier by the stake amount: 2.39 x 50 = $119.50. (In this case, the payment is off by a few pennies due to the rounded-off decimals.)
What is a parlay bet?
A parlay is a wager type in which multiple bets are linked together as one. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. If even one game loses, the parlay loses.
Sportsbooks give you bigger and bigger payouts for adding more games to a parlay, but the probability of losing increases as well. It's more difficult to be right 5 times than 1.
Visit the Best online sportsbook to start building your parlays!
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