Published on February 6th, 2021 | by Bibhuranjan0
Multiply Your Betting Odds: How to Use a Parlay Calculator?
A parlay is a type of bet that puts together two or more individual bets for a higher payout. Since it is treated as one bet, none of the picks on your parlay can let you down. Even if one of your parlay picks loses, the entire parlay is gone.
Parlays are highly popular among the bettors just because of the higher payouts. You can win hundreds of dollars with a couple of bucks stake when you land a 5-game parlay for example. However, the bigger payout brings along the greater risk. You will have a much higher chance of nailing a single straight bet than several picks at once in a parlay.
What is a parlay calculator and how to use it?
Just by reading the introduction part of this article, you may have an idea of what a parlay calculator is. It is a tool used to calculate the payout of your parlay. It is by no means a game-changing business software as all sports betting operators have been using it for ages. If you have ever placed a sports wager, you have practically used a parlay calculator in your bet slip. Usually, the sportsbooks automatically multiply the odds for your picks and you can see the possible payout in the bet slip. You can, of course, type in “parlay calculator” in your web browser and test the tool on various sites. You will just be asked to enter the stake and the odds, and you will instantly see the potential winnings amount.
How can I calculate a parlay payout?
You can do the parlay calculator’s job on your own as well. We will show you the math through an easy example, but let’s first go through the theoretical part. This is what you should do:
- Convert your American odds to decimal odds through one of numerous online odds converters
- Then multiply these decimal odds
- Then multiply the number you got (the multiplier) by your bet amount
- Finally, subtract your original stake and you have got the odds for your parlay
We know the theory is boring, so let’s get straight to the example. Let’s say that we want to back spreads for four different teams across four distinct professional sports in the United States. The spreads are paid at the -110 odds with most sportsbooks, in most cases. So, this is our parlay:
- Dallas Mavericks (-5.5) to beat Atlanta Hawks @ -110
- Buffalo Bills (-6.0) to beat New York Giants @ -110
- Tampa Bay Lightning (-1) to beat New York Rangers @ -110
- New York Yankees (-1) to beat Los Angeles Dodgers @ -110
By applying the aforementioned theory, we should do the following:
- -110 American odds are equal to 1.91 decimal odds
- 1.91 x 1.91 x 1.91 x 1.91 = 13.30
- 13.30 – 1 = 12.30
So, your parlay odds in this specific case would be +12.30. The parlay would then pay approximately 12/1.
Now that you’ve got the parlay calculator basics, you are ready to jump into today’s betting offer and find the best several picks for your parlay. Good luck!