Welcome to the Parlay Odds Calculator powered by Bestodds.com
Let us help you connect on that next big sports betting parlay!
The calculator is very simple to use.
Simply enter the moneyline figures into the text boxes below, then hit the calculate button to see how much your parlay will pay out.
Enter Favorites & Underdogs Moneylines
1. Enter the moneyline of your bets
– Favorites: Add minus (-150)
– Underdogs: Number only (160)
2. Enter the bet amount
3. Calculate the parlay winning amount
What Is Parlay Calculator?
The Parlay Calculator indicates how much money sports bettors would win if they placed a bet on a certain number of games.
For example: if I were to place a $20 wager on 3 football teams, at -110 money line odds, my parlay payout would be $119.16.
Therefore, the parlay calculator will count the number of picks you have chosen (3), times the amount of each money line (-110), times your wager ($20), and then show you how much you would win on that wager ($119.16).
VERY IMPORTANT: make sure when putting in favorites, you add the minus in front of the number. Example: If the Boston Red Sox are a PK -150 favorite vs. the New York Yankees, enter “-150” in the box.
Same thing with NFL Football, if the New England Patriots are a -7 point favorite, enter (-110). If they are -220 on the money line, enter -220. How much does it pay and how do you win a parlay?
In order for a parlay bet to win, every one of your wagers must win or push (tie). If any of the other selections on your ticket loses, your wager loses, regardless of the outcome of the other games.
Also, if one or more selections are a tie, postponed, incomplete, canceled, or rescheduled for another day, then the wager reverts to the next lowest number.
For example: if you place a 5-team parlay and have 4 winners and a tie, your wager pays out as a 4-team parlay. If you place a 2-team parlay and one team wins and one tie; the wager becomes a straight single bet.
Try it out, simply put in the numbers and the parlay calculator will do the rest!
If you want to understand the complete math behind parlay math, check out the guide math behind parlay odds.
What Is Parlay?
Parlay is when two or more teams or totals can be combined to make one wager.
Let’s say you bet $100 on the Pirates +150 and the Pirates over 8 at -120 in a two-team parlay.
Use the following steps to determine your winnings or should we say potential winnings.
Calculate the parlay factor for each piece.
If the price of the piece is positive, simply add one to get the factor. If the price of the piece is negative, calculate the reciprocal, multiply by -1, and then add one (1.50 + 1 = 2.50 -1.20).
Take the reciprocal or divide one by the negative price (1/1.20 = 0.83 + 1 = 1.83). Multiply all factors. Multiply this factor times the bet amount.
The result is the payoff (including your bet): 2.50 x 1.83 = 4.57.
Now multiply the result by 100 (4.57×100). $457 is your total return if both pieces win (including your bet amount). Subtract your bet from the figure calculated in 2.
The result is your winnings $357 ($457 – $100 = $357). Did you get that?
Want an in-depth understanding of various parlay bets? Read our primer on parlay bets across different sports.
Parlay Betting Advice
If you’re a parlay type bettor that likes to bet the total and side of a game, here’s a piece of advice.
If you bet on the Favorite, take the OVER. If you like the UNDERDOG, take the UNDER. The logic behind this theory is simple.
For example: when a team is favored by 7 points or more with an OVER of 44.5, all you need is for the underdog to get up ahead or stay in the game as long as they can.
Because the favorite is more likely to catch up and put up some points on the board, the percentage is good to cover the over.
As for the dog, if they can keep the favorite off the board, the percentage of the UNDER and dog covering is on your side.
Say what you want against parlay betting, I like it! Many experts will discourage their friends from betting on parlays, I’m the opposite.
If you buy a lottery ticket, in my view you’re buying into the parlay strategy.
Sportsbook managers tell me all the time, 90% of the players end up losing their entire deposit.
Get the best parlay bonuses that you can get, while shopping at various regulated sportsbooks.
Take that bonus money and take a shot at a 5-team or 8-team parlay to try and get that one big score, go for it!
Don’t do it every day and don’t wager the farm!
Here’s what I like to do, come NFL season, I make my 1 or 2 big wagers and then I go “parlay tripping” with an 8-team to 10-teamer.
Let’s face it; if you can hit an 8-team or 10-teamer, you’re going to cash a nice ticket. Just live within your means and bet what you can afford to lose.
Are parlays a bad value? Find out in our primer on finding value in parlay bets.