If you're looking to maximize your winnings and add an extra layer of excitement to your sports betting journey, parlays are the way to go.
Parlays allow you to combine multiple individual bets into a single wager, creating the potential for higher payouts.
In this guide, we'll delve into what parlays are, how they are built, the difference between parlays and single bets, and provide a comprehensive overview of parlay calculations using a parlay odds calculator.
Quick notes - our free parlay odds calculator allows you to build any parlay bet you can think of, from Moneyline, to total and spread, American, fractional or decimal odds - it's all here.
If you're not 100% sure how to build the parlay or how to use the calculator, click on the GUIDE button next to the calculator. It has a step-by-step guide that will help you build your parlay.
One thing you should be aware of - the odds you have/were given for each of your parlay legs should be compared. We made it super-simple to compare odds for NBA, NFL and MLB games and props.
Make sure to shop for the best odds before making any bets, as your returns can increase as much as 200%!
Bet Basics only deals with legal US sportsbooks, so any betting lines you see here are 100% legit. You will also find Sportsbook bonuses for joining the relevant sportsbooks offering the best odds for your parlay.
OK, let's dig deeper:
Understanding Parlays: Building Your Ticket to Bigger Wins
Parlays are multi-bets that require you to successfully predict the outcomes of multiple events. Instead of placing separate single bets, you combine two or more bets into a single wager. For instance, you could bet on the outcome of three NFL games or a combination of different sports events. The allure of parlays lies in their potential for substantial payouts as the odds of each individual bet are multiplied together.
The Distinction: Parlays vs. Single Bets
The key distinction between parlays and single bets is the number of events you're betting on. In a single bet, you wager on the outcome of a single event, such as a football game. If your prediction is correct, you win the bet based on the predetermined odds. However, parlays involve combining multiple bets, and for the parlay to win, all the individual predictions within the parlay must be correct. While the risk is higher with parlays, the potential rewards are also significantly greater.
Calculating Parlays: How to Unlock the Potential
Calculating parlay odds can be complex due to the multiplication of odds. This is where a parlay odds calculator comes in handy. By using a parlay odds calculator, you can quickly determine the potential payout and implied odds of your parlay bet.
Let's walk through an example to understand how a parlay odds calculator works:
Example: Building a Parlay Ticket
Suppose you're interested in placing a parlay bet on three NBA games. The individual odds for each game are as follows:
Game 1: Team A -150
Game 2: Team B +200
Game 3: Team C -110
To calculate the parlay odds, multiply the individual odds together. In this case:
Parlay Odds = (-150) * (+200) * (-110) = -6600
To convert the parlay odds into a more user-friendly format, we can use a parlay odds calculator. By entering the odds and the amount you wish to wager, the calculator will provide the potential payout and implied odds for your parlay bet.
The Power of the Parlay Odds Calculator
A parlay odds calculator streamlines the process of calculating potential payouts and implied odds for parlays. It eliminates the need for manual calculations and provides accurate results instantly. The calculator takes into account the odds of each individual bet, the number of selections, and the stake amount to deliver comprehensive insights into the potential outcome of your parlay.