What Is Parlay Betting?

Let's start by answering the question of “what is parlay”. Parlay is a special type of bet and is mostly seen in sports betting. However, it is possible to enter such bets in all kinds of games of chance. Simply put, it means that you bet on more than one “win” possibility at the same time. In order to make a profit, all of these possibilities must result in a winning. If only one is lost, all bets are deemed lost. In case of a tie, less payment is made.

• That’s a key part of understanding money line bets. First, we have a simple calculator that you can use to plug in any moneyline (American style odds) and quickly get the fair market probability that it implies. We’ve also included a chart below the calculator for reference, and to see how favorites and underdogs compare.
• The total odds of your parlay are determined by the individual odds of your bets. It does become a more straight forward moneyline parlay calculator if betting on the spread or totals however as they are fixed odds. Otherwise known as ‘Pick em’ markets. Find out your 12 team parlay odds or 15 team parlay odds with our free parlay calculator.
• Enter the amount of money you wish to bet. Our calculator will take care of the rest. You’ll see how much money you’ll win, and the total payout you’d receive. We set the bet amount to $100, but you can enter any amount you want as long as your bankroll can handle it.
• The most basic is a moneyline odds calculator that tells you how much you’ll win based on your bet and the odds. However, different odds calculators have different purposes, such as comparing futures, identifying arbitrage, and more. When should I use an odds calculator?

For a parlay sports betting, you must place a bet on at least two teams. This number can be increased, and for example, it is possible to place a bet in favour of 11 teams at the same time. The higher the number, the higher the payout rates. This is why players choose this type of bet: Even with a limited budget, you can get maximum payout rates. Using a betting odds calculator, it is possible to find out what the actual payout amount will be. Click here for an example parlay odds calculator.

Betting Odds Converter & Moneyline Calculator Insert your odds below and the tool will automatically convert them to American, Decimal, and Fractional odds. It will also calculate.

Basically, it is possible to say that there are two types of parlay bet. These are:

• Point-spread parlay: Odds are fixed.
• Moneyline parlay: There are no fixed odds.

Point-spread parlay bets are simpler and the probability for each outcome is 50%. However, there is no fixed payout table for money line parlay bets because this is a progressive betting system. If you win a bet, you'll spend all your winnings to bet on the next match and this goes on and on. In theory, moneyline parlay bets have the highest payout rates.

Parlay Payouts

You can see the payout rates for point-spread parlay bets in the table below.

So, theoretically, if you bet on 11 teams and they all win, you can invest $ 1 USD and win $ 2,047. However, the likelihood of this is very low. Parlay bets really help you win a lot, but your chances of winning are not as high as you might think. If you have just started sports betting, we recommend you to stick to simpler bets.

Moneyline Bet Calculator Estimate

The Free Bet Calculator is the most advanced online sports bet calculator, allowing you to calculate the stake and profit for an extensive range of bets. All of the most popular bet types are supported, including Lucky 15, Single, Double, Accumulator, Patent and Round Robin, along with more specialised bets such as Alphabet, Magnificent 7, Union Jack, and the infamous Bookies Nightmare! Configurable bonuses and consolations can be applied to relevant bets, enabling the calculation of the full expected return.

Large Accumulators and perms consisting of up to 20 selections are possible, with full support for each way bets (including equally divided), and bets affected by Rule 4, dead heats and joint favourites.

As well as calculating the return on your winning bets, the bet calculator can be used before you place your bet, to quickly compare how the return may be affected by different outcomes for each selection. For example, can you still make a profit if only two of your Lucky 15 selections win?

Money Line Bet Payout Calculator

If you’re not sure which bet type to pick you can Compare Bet Types. This is an especially powerful tool when used in conjunction with the Maximum Total Stake setting, to equalise the stakes and ensure you stay within your spending limit.

Sbr Moneyline Converter

Although the Free Bet Calculator is quick and easy to use, even for complex bets, contextual help is available via the information buttons . New visitors may also find the detailed Betting Glossary and Help pages useful.