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Parlay Calculator: Calculate Parlay Odds in Seconds

emily saunders
Writer
Fact checked by: Mike McKean
Last Updated on 09.07.2024

Do you wish you could quickly see how much you could potentially win on a multi-leg bet? You’ve come to the right place! Our parlay bet calculator instantly gives you the combined odds, implied probability, and potential payouts.

Getting started with parlay bets can feel like betting in the dark, but our free parlay calculating tool can bring it all to light. We’ll tell you exactly what it’s used for, how to use it to its fullest, and how to boost your efforts at parlay betting in this comprehensive guide, so dive right in.

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Work Out Your Parlay Odds with Our Free Calculator

Parlay calculator



What is a Moneyline Parlay Calculator?

Our free parlay calculator is just one of the free calculators for betting that we offer. It goes through several formulas in an instant to give you several key pieces of information. These can help you determine if your parlay is worthwhile or not, if you want to add another leg (or remove a selection), and even how much to bet by giving you:

  • The total odds for your parlay bet
  • The implied probability (chances of you winning all the bets in your parlay selection)
  • What amount you could receive if all your bets win

What’s the Main Purpose of a Parlay Calculator?

The purpose of a parlay calculator like ours is so that you can quickly see just what potential outcomes you’re dealing with when placing bets with multiple legs in top American sports, such as the NFL, NBA, and MLB. You can compare different selection outcomes and even manually factor in odds boost bonuses to see how they will impact the outcome and visualise it all before you place a bet.

What are Parlay Bets?

Parlay bets mean you combine multiple bets into one (for example, the next three teams in the season to win). You usually need to win every selection in that bet in order to win the overall parlay bet, though some sportsbooks let you cash out early on parlay bets, allowing you to claim a smaller win if you feel like you’ve pushed your luck enough.

Parlay Bet Example

Parlay bets are usually created with bet builders. The number of legs you can add to them can be anywhere from two onwards. The more legs you add to your bet, of course, the less likely you are to win all of them. You can use our free parlay calculator to determine what type of odds, implied probability, and payout you are looking at.

For example, say you want to create a parlay bet on the Moneyline result for three matches on the underdogs in the Billie Jean King Cup Qualifying Matches. The bet you build includes:

Player to WinOdds
Giuliana Olmos+450
Marcela Zacarias+650
Anna Danilina+900

The odds of you winning the entire parlay is 41,150 (long odds), with an implied probability of 0.24%. On a stake of $10, this could fetch you $4,115 if you were to win.

Those same matches have these odds on the favourites to win:

Player to WinOdds
Arina Rodionova-800
Daria Saville-1400
Nao Hibino-3300

Entering those figures into our calculator instantly tells you that the parlay odds are 413, that there’s an implied probability of your parlay bet winning of 80.52%, and that you’ll likely win $2.42 with a $10 stake.

Why Should I Consider Parlay Bets?

Parlay bets have the potential for higher payouts compared to straight bets, making them a good option to consider. The downside is they’re harder to win since you need to win every leg of your bet. The flip side is you can bet less and still get a sizable payout if you win. If you take on the risk, parlay can be an interesting way to diversify your betting approach.

What Are the Best Sports for Parlay Betting?

Parlay betting is one of the most common types of betting, and it’s available for almost every sport. You can use parlay bets to place multiple Moneyline bets or combine point spread bets into one, which is why you can use it easily in these top sports:

American Football

The NFL is an excellent choice for any parlay bet, especially when you take into account those exciting matchups during the Super Bowl. You’ll be able to combine various markets like moneyline, totals over/under, and so on, right into a single bet with longer odds. The NFL is also huge on prop or player bets, giving you even more opportunities to build a custom bet that suits you down to a T. Thanks to the NFL’s popularity, there are simply so many different bets to build your own parlay!

Basketball

The NBA is another big league with plenty of betting options. Put multiple bets across the All-Star Game, the Slam Dunk contest, the Three-Point contest, and more, and then see how it could play out if all your bets win with our calculator. With so many interesting matchups and in-game competitions to bet on, you have many unique opportunities to build a parlay bet that’s most interesting to you.

Baseball

Baseball is America’s favourite pastime, with so many great events to bet on whether for a single game or throughout the season. Go and build your custom bet for the MLB All-Star game and bet on all of your favourite players at once. Or bet on your favourite team to win their next three games in the World Series. MLB has plenty of prop and player betting options as well, so you’ll never fall short of options.

Introducing Our Free Parlay Betting Calculator

Now that you know a bit more about multi-leg or parlay betting, it’s time to finally open the curtain on what you can get with your bets. There’s no need to do the maths in your head or try to work out the implied probability of multiple selections winning, as our sports betting parlay calculator does all that for you. It’s instant. It’s free. Simply input your stake and moneyline information and our calculator will do the rest. It can be used as many times as you need, so get started with your own calculations right here:

Parlay calculator



Why Should You Use a Parlay Calculator – Top 3 Benefits

Betting calculators are optional, but once you start using them and understand how to integrate them into your bet strategy, they become an invaluable tool. This applies to all types of bets, including parlay bets. Not convinced yet? Here are three top benefits you can expect when you use our sports betting parlay calculator:

1. Get All Your Parlay Bet Outcome Information Instantly

Our parlay calculator gives you your combined odds, the implied probability of winning the entire bet, and what you could get back if you win the bet all in a single click after you input the data. That’s three key bits of information you’ll want when planning your parlay bet.

2. Say Goodbye to Mathematical Errors from Manual Calculations

Using an online parlay bet calculator gives you instant, accurate results; there is no need to go through the many different calculations and risk human error disrupting your results!

3. Let’s You Quickly See What Adding Legs to Your Bet Does to the Outcome

You can easily visualise how adding an extra leg will impact both the implied probability and your potential payout just by adding another section to the calculator. This lets you see whether adding that extra section (or more) is worthwhile.

Our Top Bookmaker Recommendations for Using our Free Parlay Calculator

Our free parlay calculator can be used alongside any sportsbook, especially if you use our odds calculator to convert odds (if necessary). This means you can use the top sportsbooks or the hot newcomers. The only thing you won’t want to do is go for a sub-par brand that doesn’t offer you a safe experience. If you’re new to the world of online betting and not sure where best to place those parlay bets, then check out our top five recommendations:

Useful Tips For Using Our Parlay Payout Calculator

Ready to make the most out of our parlay odds calculator? A few tips can help enhance your experience, not just when using our calculator but also when placing parlay bets overall.

Play Around with Your Parlay Bet Options

You can update the values on our parlay payout calculator at any time, as often as you want, so play around with different betting options to find the bet that suits your strategy best. How top-rated betting bonuses impact your bet is another key reason to play around with our calculator. If there’s an odds boost, for example, you can use the boosted odds in our calculator to see just how much you could potentially win.

Always Add the + or – When Using American Odds

American odds use the (-) to indicate the underdog. That means that 100 (or +110) and -110 are very different odds, so make sure you include them and use the right symbol.

Check the Implied Probability As Well

Our parlay odds calculator can help you understand your multi-leg bet’s total odds and implied probability, which can help you decide whether the bet is right for you or not. The more the selections, the smaller the implied probability, so adjust your approach as you see fit.

Explore the Other Top Calculators We Have Available

We have 15+ calculators available for bettors to use, including our ever-popular fair odds calculator which you can use to test how competitive the odds are on your chosen sportsbook. Every one of them is free to use, can be updated as many times as you need, and gives you instant results. You can get started by reading our expert reviews about each of these calculators, or just dive right in.

Shine a Light on Parlay Bets with Our Free Parlay Bet Calculator Today

Our parlay calculator is entirely free to use. You can add as many selections as you want, tweak the values, and how much you intend to place as the stake as many times as you want. In an instant, you’ll get the total parlay odds, potential payout, and also the implied probability, allowing you to make more informed parlay bets every time.

Use Our Parlay Calculator With These Top Betting Bonuses

All the best betting sites that we’ve reviewed offer bonuses. Some of those bonuses are free bets that can only be used on a 3+ parlay bet. Others are odds boosts or profit boosts. Just remember, some bonuses are going to be better for parlay bets than others, so if you’re wondering what bonuses to look out for, try out our top five recommendations:

Our favorite sportsbook bonuses

Parlay Bet Calculator FAQs

😎 What’s the difference between a parlay and accumulator bet?

They are both multi-selection bets. The only difference is location. In the US, bettors commonly refer to multi-selection bets as parlays. In the UK, those same types of bets are known as accumulators.

🌎 What can I do if my sportsbook isn’t showing American odds?

You can set your odds format preferences on every sportsbook either on the homepage or in your account’s settings. You can also use our odds converter to get the odds you see in the right format.

⚖️ Is it better to make a parlay bet or multiple single bets?

Whether you bet a parlay or a single bet is entirely up to you. Single bets are easier to win because only one event has to occur (for example, your team winning), while you need to win all selections in your parlay bet to win, though there is a higher payout.

🤔 How do I maximise potential payout with a parlay bet?

We recommend tweaking your selection in our calculator to determine the best bet stakes and selections for your betting style.

❓ How many selections should be in a parlay bet?

You can add as many selections to a parlay bet as you feel, but bettors generally stick to 3 to five legs.