Parlays are many bets on one ticket. Instead of making a single bet on the NFL or NBA, you can combine different bets onto one slip. The only downside to making a parlay bet is that all wagers must hit, otherwise the entire bet is a bust.
It can be a tad confusing when you’re trying to combine odds and/or determine the overall payout of your total wagers on multiple games. Enter Odds Shark’s parlay tool, a great instrument you can use before making your picks.
How To Use A Parlay Calculator
With our parlay calculator, you can select how you want your odds displayed. We use American style (-500), but you can choose Fractional (1/5) or Decimal (1.20). Under Odds Type, pick your odds style. Input your first wager in the Bet #1 slot. Click on Add Bet to add the other wagers on your ticket. For favorites, you must add the minus sign (-) before the odds. For underdogs, you don’t need to add the plus sign (+).
Our parlay number cruncher lets you enter up to 100 bets. However, most sportsbooks will only allow up to 10-team parlays.
In the Bet Amount box, input what you want to wager. It’s set to $100, but you can bet whatever you want, as long as your bankroll can handle it.
Hit Calculate and you’ll see what you’d win. We’ve come up with a more detailed example below.
Moneylines, Totals, And Point Spreads
Let’s say you have $80 burning a hole in your wallet. You decide to take that money to your favorite betting site and create an awesome parlay.
• New England Patriots moneyline -200
• Boston Celtics to cover the spread -110
• MLB prop bet total hits allowed for Justin Verlander UNDER 4.5 (-145)
• Montreal Canadiens vs Pittsburgh Penguins totals OVER 6 goals (-115)
In the parlay number cruncher, you would add -200 for Bet 1, -110 for Bet 2, -145 for Bet 3, and -115 for Bet 4. The calculator does not need the 4.5 from the prop or the 6 from the totals bet. These numbers are important to your overall wager, but it’s the digits in brackets that are necessary to see how much you’d win.
Your payout, if every bet in this parlay hits, would be $723.68 – your original $80 comes back along with your winnings of $643.68. If there’s a PUSH, that bet is removed from your ticket as if it never happened.
We also have a traditional betting odds calculator for those instances where you’re only making a single bet and don’t need to crunch the numbers for an entire ticket.