PromoGuy logo
VA
Plus
Discord
Twitter
Youtube
Facebook
Mail
Reddit

Parlay Calculator: Free & Easy Multi-Bet Optimizer

Last Updated on 30/04/2024

Our parlay odds calculator automatically gives you the total payout for your parlay bet. To use it, you just need to enter the odds for two or more bet selections, plus your total stake.

A parlay bet involves combining two or more wagers into a single combination bet. The odds are multiplied, which obviously gives you a higher potential payout. However, the risk is also greater, because if one of your selections loses, the whole parlay bet loses and won’t get a payout.

Read More

Make use of our free calculator when optimizing your Parlays

Parlay calculator



How to use the parlay bet calculator

To use our parlay odds calculator, you just need to enter your total stake and the odds for each of your selections. You require at least two selections to make a parlay bet, but it can be more, so you’ll see there is an option to add extra rows on our calculator.

Once you have entered the odds for each selection and your total stake, the calculator will show you your expected return, your profit and the overall odds for the parlay bet.

Inputs

Here is the data that you need to put into this calculator for it to work:

  • Stake - The total amount of money that you would like to bet on your parlay. Note that this is a single figure that will cover all bets combined, not the amount per selection.
  • Odds - You need to enter the odds for each of your parlay selections, of which there must be at least two. Below each selection, there is a button you can click to add another one.

Outputs

Once you have entered all of the above data into our parlay calculator, you will get the following outputs:

  • Expected payout - The total amount you will receive if all of your selections win.
  • Expected profit - The amount of profit you will make if all of your selections are correct.
  • Parlay odds - The overall odds for your parlay bet.

Odds calculator parlay - A step-by-step guide

Here, we’ll take you through the full process of using our parlay odds calculator:

  1. Browse your sportsbook and make your selections
  2. Type in the total amount of money you wish to stake
  3. Enter the odds for each of your selections, adding extra rows if needed
  4. Click the “Calculate” button at the bottom of the page
  5. The expected payout, profit, and overall odds for your parlay bet will be calculated instantly

Example of the parlay odds calculator in action

To give you a working example, we’ve created a same-game parlay bet using an NHL betting line from the DraftKings Sportsbook:

MoneylinePuck LineTotal
Buffalo Sabres:+160+1.5 (-155)0 6.5 (-108)
Toronto Maple Leafs:-192-1.5 (+130)U 6.5 (-112)

Let’s say we want to back the Maple Leafs to win outright and beat the 1.5 puck line, with over 6.5 goals from both teams. If we were to place a $100 bet, here’s how it would look:

Parlay Leg 1 Odds:-192
Parlay Leg 2 Odds:+130
Parlay Leg 3 Odds:-108
Total expected payout:$673.65
Total expected profit:$573.65
Parlay odds:+574

Parlay betting explained

A parlay bet is a type of wager that involves combining two or more single bets into a single bet. This increases the expected payout and potential profit beyond what you would make if you bet on all of these selections individually.

That’s because the odds for all of the selections are multiplied, which as you can see from the example above, raises them significantly. On the other hand, your risk of losing is also increased because every selection must be correct for your bet to win. Basically if you make one incorrect selection, the whole parlay loses.

How a parlay is different from wagering on each bet individually

You might be wondering how a parlay is different from backing each selection individually, and in a way, we’ve already answered that question in the section above, but we’ll explore the concept in a little more detail here.

With a parlay bet, you are effectively bundling multiple bets into a single wager. By doing so, you have the benefit of increased overall odds for your bet because the odds for each selection in your parlay bet are multiplied.

If you were to use the same stake, but place each bet individually, the odds and expected payout would be lower, because you lose the benefit of the multiplication factor. However, as you wouldn’t need all selections to be correct to win, this is a less risky approach.

Parlay calculator odds vs accumulators 

Another question that we’re commonly asked is what the difference is between parlay and accumulator bets. Well, in a nutshell, not much.

The only real difference in definition is that a parlay bet can be any combo bet with two or more selections. Meanwhile, accumulator bets usually have at least three selections, but the two terms are pretty much interchangeable.

Another, and perhaps simpler, way to separate them, is that “parlay” is the preferred term in the US, while “accumulator” or “acca” is more common in the UK and other parts of the world. At the end of the day, however, a parlay is a type of accumulator and vice-versa.

Same-game vs multi-game parlays

In the earlier example, we used our parlay odds calculator for a same-game bet, because all of our selections were for one event. The alternative is a multi-game parlay which, as the name suggests, involves combining selections from multiple different games.

If you found this information useful but wish to know more, you can right here.

Our bookmakers of choice

Bet365
1.
Favicon
4.7/5
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
Virginia
Players from Virginia accepted
Virginia (US) Lottery Board
Bet now
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetMGM
2.
Favicon
4.7/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Virginia
Players from Virginia accepted
PayNearMe
Skrill
PayPal
Virginia (US) Lottery Board
Bet now
T&Cs apply, 21+
FanDuel
3.
Favicon
4.6/5
Bet $5 Get $150 in Bonus Bets if your bet wins
Virginia
Players from Virginia accepted
Prepaid Card
PayNearMe
PayPal
Virginia (US) Lottery Board
Bet now
T&Cs apply, 21+
Caesars
4.
Favicon
4.5/5
100% up to $1000
Virginia
Players from Virginia accepted
E-Check
PayNearMe
PayPal
Virginia (US) Lottery Board
Bet now
T&Cs apply, 21+
DraftKings
5.
Favicon
4.5/5
20% up to $1000
Virginia
Players from Virginia accepted
PayPal
VIP Preferred
Play+
Virginia (US) Lottery Board
Bet now
T&Cs apply, 21+

Why this parlay payout calculator is useful 

If you want to combine multiple bets into a single wager, there isn’t a more useful tool than our parlay odds calculator. Why? Here are the top five reasons:

It’s easy

The formula for calculating parlay odds is complicated just to look at, and doing the sums in your head is near-impossible for most of us. This calculator does all of the hard work in this respect, so you don’t have to.

It’s quick

Not only does this calculator do the math for you, it does it quickly as well. You can get instant combined odds, expected payouts, and profits for whatever combination you’re looking for.

It’s flexible

You can change your stake and add as many selections as you like to the parlay odds calculator. It’s an extremely flexible tool that you can tailor exactly to the needs of your bet - no matter how complex they think they may be.

It’s clear

Once the calculators have been made, the results are clear, concise, and accurate. There are no rough estimates or implied probabilities, so you can make your decisions based on the outputs provided.

It helps you pick better bets

Last but not least, our parlay odds calculator can help you make good and well-informed decisions. When viewing the results, you can quickly decide if your chosen parlay bet is worth it or not. You can even use it in combination with some of our other betting calculators here at PromoGuy US. 

What other betting calculators are available

Besides the betting calculator for parlay wagers, we have plenty of other tools right here at PromoGuy US, all of which you can check out below. If you’re not yet at the experience level required for a combo bet like parlay, you can use our moneyline calculator for your single wagers/

For the more advanced sports bettors among you, we have strategy-based calculators that use the Kelly Criterion, Dutiching, and other formulas favored by the pros. In total, we have more than 15 betting calculators to choose from, with more in the pipeline.

All of our free betting calculators at the PromoGuy

Odds parlay calculator - Conclusion

So there you have it, parlay betting explained in full. At the end of the day, not even the brightest mathematician would enjoy calculating the odds for a five-fold parlay on their own.

Basically, if you want to place a parlay bet, then our parlay odds calculator is an absolutely essential tool and it’s super-easy to use. All you need to do is enter your total stake, together with the odds for each selection and our calculator will instantly do the rest.

Our favorite sportsbook bonuses

Bet365
1.
Favicon
4.7/5
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
Virginia
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $10
Go to Bet365
Get bonus now
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetMGM
2.
Favicon
4.7/5
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Virginia
Players from Virginia accepted
Min. Deposit: $10
Go to BetMGM
Get bonus now
T&Cs apply, 21+
FanDuel
3.
Favicon
4.6/5
Bet $5 Get $150 in Bonus Bets if your bet wins
Virginia
Players from Virginia accepted
Requirements (WR): 1x Deposit, Min. Deposit: $10
Go to FanDuel
Get bonus now
T&Cs apply, 21+
Caesars
4.
Favicon
4.5/5
100% up to $1000
Virginia
Players from Virginia accepted
Requirements (WR): 1x Deposit
Copy
Get bonus now
T&Cs apply, 21+
DraftKings
5.
Favicon
4.5/5
20% up to $1000
Virginia
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $5
Go to DraftKings
Get bonus now
T&Cs apply, 21+

Parlay odds calculator FAQ

⚡ How do you calculate the parlay odds?

To calculate the odds for your parlay bet, convert them into decimal format then multiply them. To get your expected payout, multiply the overall odds by your total stake. Alternatively, the parlay odds calculator here at PromoGuy.us can do it all for you.

✨ Do parlays multiply the odds?

Yes, in a parlay bet, the odds for all of your selections are multiplied together, not added, which is a common misconception. As a result, the expected profit for a parlay bet is higher than it would be if you were to place each bet individually with the same stake. However, the implied probability is much lower, giving you a greater risk of losing.

💎 What are the odds for a six-leg parlay?

There are no fixed or set odds for this type of bet. You need to input the odds for all six legs into our calculator and then enter your stake to get the combined odds. You can test out our parlay calculator now and check out the top UFC betting sites right here at PromoGuy.us.

Top Betting Sites
Top Betting Bonuses
Bet365
Bet365
Bet365 Review
4.7/5
BetMGM
BetMGM
BetMGM Review
4.7/5
FanDuel
FanDuel
FanDuel Review
4.6/5
Caesars
Caesars
Caesars Review
4.5/5
DraftKings
DraftKings
DraftKings Review
4.5/5
Bet365
Bet365 Bonus
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
T&Cs apply
4.7/5
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetMGM
BetMGM Bonus
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
T&Cs apply
4.7/5
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets if your bet wins
T&Cs apply
4.6/5
Caesars
Caesars Bonus
100% up to $1000
T&Cs apply
4.5/5
DraftKings
DraftKings Bonus
20% up to $1000
T&Cs apply
4.5/5
Sign Up Now!
Subscribe to our picks by email so you never miss out on a single bet!
Our Team
CollinPeterSam
Collin
Collin
PromoGuy Legend
Peter
Peter
Our man for Picks & Guides
Sam
Sam
The PromoGuy himself

Make $2,600 Monthly Profits with Sports Betting

  • bullet-checkmarkDaily picks from betting experts on odds boosts and casino promos
  • bullet-checkmarkAn average of 25% ROI, with a total of $4,900+ profit in October
PromoGuy logo

Go Pro! Claim An Exclusive $5 Off PromoGuy Plus Discord

Sign Up Now!
Subscribe to our picks by email so you never miss out on a single bet!

21+ and present in VA. Gambling Problem? Call 1-800-GAMBLER.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

Close
Our Sports Pros recommend these awesome sports betting sites this week:
BetMGM
BetMGM Bonus
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
T&Cs apply, 21+
Promo Code:
Go to BetMGM
Get Bonus
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets if your bet wins
T&Cs apply, 21+
Promo Code:
Go to FanDuel
Get Bonus
Bet365
Bet365 Bonus
First Bet Safety Net up to $1000 OR Bet $5 and Get $150
T&Cs apply, 21+
At bet365 we don't do ordinary, that's why if you sign up now you'll get the choice of two great New Customer Offers, the First Bet Safety Net up to $1000 or Bet $5 and Get $150 in Bonus Bets. Deposit required. Bonus Bets wager excluded from returns. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Promo Code:
Go to Bet365
Go to Bet365
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Play now