Parlay Bet Calculator Explained

Parlay Bet Calculator Explained

 

I’m sure we can all agree that betting on sports, especially using parlays, requires some type of aid, something along the lines of a sports betting parlay calculator. This is because parlay bets are an extremely popular form of betting, all the while being incredibly hard for the average person to calculate. The way all the different odds combine together to create one final price in parlay betting seems to have no rhyme nor reason. But despair not, there is a way to calculate these evasive odds. There is a calculator to take the edge off calculating your odds.

 

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Don’t think we will just throw you over to the pencil-and-paper mode to try and do the math in your head. We will joyfully guide you towards the wonders of plugging your bets into a parlay bet calculator and letting it do all the dirty work for you. If you’ve never used a parlay bet calculator, worry not. We’re here to give you a full breakdown of what it is and how to use it.

What Is a Parlay Bet Calculator?

A parlay bet calculator is also a self-explanatory name: it’s a calculator that works out the total odds of a parlay bet. While you need to have mad skills for calculating the overall odds of multiple selections all by yourself in a parlay bet (which turns it into a very tricky task,) luckily there are parlay calculators everywhere around you. What was once a challenging exercise, is nowadays a piece of cake with so many betting odds calculators at hand.

 

With a parlay bet calculator, all you need to do is input the information of each wager on your betting slip, and it will calculate your total return and overall profit. They’re really easy to use and so much quicker than trying to work out everything in your head.

How To Use A Parlay Bet Calculator

While a parlay bet calculator is simple to use, it could turn tricky, so we’re going to give you a step-by-step guide on how to use them. By the end of this guide, you’ll know exactly how to use one and will be able to calculate your returns on any parlay you choose, with a great calculator!

 

  • Set Your Odds Format – The first thing you should do when calculating your parlay is to change the calculator’s odds setting to the odds you use on your betting site. Doing this makes it much easier to input your odds for each selection.

 

  • Choose Number of Selections – Once your odds are in the correct format, you’ll need to set the number of selections in your parlay. The number of selections simply refers to the number of bets that make up your wager.

 

  • Input Your Odds – After setting the number of selections, you need to input the odds for each of the bets into the calculator. Make sure to input each bet only once.

 

  • Input Your Stake – Once all your odds are in the calculator, input the stake of your bet. This stake is what will be used to calculate your overall returns, so make sure this is the stake you want to use.

 

Once all that information is in the calculator, just hit the calculate button, and you’ll be given your total returns and your overall profit!

Tips for Using a Parlay Bet Calculator

We’ve seen just how easy it is to calculate a parlay bet, but if you want to make sure things go smoothly, remember these helpful tips.

 

  • Use the Same Odds Format – Having to input multiple odds into the calculator can get confusing, but it’s even more confusing if you’re not using the same odds format as your betting site. Save yourself the headache and change the odds format in the settings so they match.

 

  • Take Your Time – You’d be surprised how often people make the same type of mistakes when using a parlay calculator; whether it’s inputting the same bet twice or skipping over a bet, it’s very easy to mess up in this section. There’s no timer on a parlay bet calculator, so take all the time you need when inputting your odds.

 

  • Check Your Selections – It’s so easy to skip over a selection or input the same one twice, so once you’re ready to hit that calculate button, make sure to go over your selections one more time to ensure they’re right.

Pros and Cons of the Parlay Bet Calculator

While parlay bet calculators are useful, they do have their twists & turns, so let’s take a look at the pros and cons of using them.

Pros

  • They allow you to easily calculate complex parlay bets within seconds.

 

  • You can change the odds format in the settings.

 

  • You can easily change the number of selections when editing your bet.

Cons

  • There’s no way to know if you’ve made a mistake by inputting the same bet twice.

 

  • If you change the number of selections, you often have to enter all the odds in again.

 

Why Should You Use a Parlay Bet Calculator?

Using a parlay bet calculator is by far the superior way of working out your parlay odds. While some bets can be easily worked out in your head, parlay bets are not one of them. You’ll save a significant amount of time by using a parlay bet calculator, and you can always be sure they’ll be accurate.

 

Of course, not only parlay betting has its aids; take, for example, single bets. There is a single bet calculator for your single bet wagering, and there are many calculators designed to let you engage in different types of sports betting without stress and with total enjoyment.

FAQs: Parlay Bet Calculator

What Is a Parlay Bet?

A parlay bet is a bet that contains two or more selections in it. For example, if you bet on the Miami Heat to beat the L.A. Lakers and the Golden State Warriors to beat the Boston Celtics, that would be a parlay bet.

How Do You Calculate a Parlay Bet?

A parlay bet is calculated by multiplying the odds of each selection together and then multiplying that number by your total bet amount.

Are Parlay Bets Profitable?

Most parlay bets don’t win very often, but when they do, they can be very profitable. Since they don’t win very often, most serious sports bettors don’t use them.

How Often Do Parlays Hit?

The frequency at which a parlay will hit entirely depends on the selections you put in them. If you have three bets of 100/1, it’s totally unlikely you’ll win, but if you have three bets at 1/10, then it’s very likely your bet will win.

How Do You Use a Parlay Calculator?

To use a parlay calculator, simply set the number of selections in your bet, input the odds for each selection, input your total stake, and hit the calculate button.

 

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