Parlay Bets
What is Parlay Betting?
Parlay betting is a popular strategy in sports betting that lets you combine multiple wagers for potentially huge payouts. But before you jump in, understanding how it works is key.
Instead of betting on single games, parlays let you tie two or more picks together. The catch? All your picks must win for you to cash in. The more picks you add, the bigger the potential reward, but also the riskier the bet.
Calculating Parlay Odds:
There are two main ways to calculate parlay odds:
Decimal Odds:
Simply multiply the odds of each individual pick (called a “leg”) together. The result is the total parlay odds.
American Odds:
Convert each American odd to decimal first (divide total payout by wager amount). Then, multiply the decimal odds of each leg together.
Understanding Fixed Odds Parlays:
Some sportsbooks, especially in Las Vegas, offer fixed odds for parlays on specific bet types like point spreads or totals. These odds are predetermined and don’t change based on individual game odds.
Important Things to Remember:
Pushes and Cancellations: If a leg in your parlay ends in a push (tie) or gets canceled, its odds are treated as 1.00 (meaning it has no effect on the overall outcome).
One Loss Loses All: If even one leg loses in your parlay, the entire bet is a loss.
What Can Be Parlayed? Most bets can be combined, but some sportsbooks may restrict correlated parlays (e.g., Over for the game and Over for a team’s total).
Ready to Try Parlay Betting?
Parlays offer exciting possibilities, but remember, they’re high-risk, high-reward bets. Use our parlay calculator to understand the odds and make informed decisions.
Calculate parlays with up to 8 games. Enter your picks, odds (including negative signs for underdogs) and your bet amount for an instant payout estimate. It also works for single bets.