Parlay Calculator - Helpful Tips and Tricks for Calculating Parlay Odds

There are two general types of sports bets. The straight or singles wager is a bet on one team or market. This could be on the New York Yankees to win its next game or for the Tampa Bay Buccaneers to beat the spread. 

Any bet that stands on its own is categorized here.

The other main bet type is a parlay bet (express). A parlay bet is composed of multiple singles wagers that each depend on the other to win. 

For example then, if you added the above two games onto one ticket, you would have a parlay: 

Type of Bet

Wager

Total Odds

Stake

Potential Payout

Straight Bet

Yankees Win (+100)

(+100)

$5

$10

Parlay Bet 

Yankees Win (+100) and Buccaneers Beat the Spread (+120)

(+340)

$5

$22

Parlay betting comes with big positives and negatives, but is mainly characterized by one of each. Parlay bets are harder to win than straight bets, as each of the individual wagers included in the parlay must win for the parlay to be successful. 

However, the main positive is that the parlay odds will be much higher than a single bet. 

Parlay Calculator

Thankfully, understanding the odds for your next parlay is not difficult as there are tools available to help with this, no matter how many games you add! 

To figure out the odds of your next parlay, you can use the parlay calculators available on sportsbooks. Simply enter the odds of each game and the amount you plan to bet. 

Parlay calculators can be found on every online sportsbook and will automatically calculate the total odds of the parlay bet. This is not dependent on how many legs or bet selections you add, as there is no limit other than the sportsbook’s own. 

More Helpful Tips for the Parlay Calculator 

There are two things that you will need to enter to ensure correct calculations. The first is the stake. The stake is simply the amount of money you will be wagering on each parlay bet. This will be a single sum for the entire parlay bet. 

The odds of each game or selection that you add to the parlay bet will also need to be entered into the parlay calculator. These will need to be specific to the exact bet you would like to add. 

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