A parlay bet is a series of bets that all need to "hit" (or win in normal parlance) in order for the parlay to pay out to the bettor.
Each bet of the parlay is called a "leg".
Parlays can have many legs, but the majority of parlays have 3 legs.
Parlays are popular because you can get big returns on your money. Whereas one bet at odds +100 would only double your money, if you have a bet with legs of +100, +150 and +100 odds, you would have collective odds of +900 and win $90 if you put down $10.
Much like the betting odds calculator, the parlay calculator is made up of two major components:
1. Odds: "Enter odds for bet 1", "Enter odds for bet 2", "Enter odds for bet 3", etc...
2. Stake: "Enter stake in $" (wager)
Let's look at each of these:
1. Odds: "Enter odds for bet 1", etc...
The odds are usually presented in the 100s range and look like +100 or -120, in example.
For instance, let's look at the example for a typical NBA game using odds from a Sports Book like Bovada:
Each bet of the parlay is called a "leg".
Parlays can have many legs, but the majority of parlays have 3 legs.
Parlays are popular because you can get big returns on your money. Whereas one bet at odds +100 would only double your money, if you have a bet with legs of +100, +150 and +100 odds, you would have collective odds of +900 and win $90 if you put down $10.
Much like the betting odds calculator, the parlay calculator is made up of two major components:
1. Odds: "Enter odds for bet 1", "Enter odds for bet 2", "Enter odds for bet 3", etc...
2. Stake: "Enter stake in $" (wager)
Let's look at each of these:
1. Odds: "Enter odds for bet 1", etc...
The odds are usually presented in the 100s range and look like +100 or -120, in example.
For instance, let's look at the example for a typical NBA game using odds from a Sports Book like Bovada:
We can see there are odds next to each choice for the Spread, the outright Win (called the "Moneyline") and the the over/under, which Bovada calls "Total" for total points and represents with an "O" and a "U".
As you can see the Odds can be both negative and positive.
In the above example, the Odds showing for the Brooklyn Nets outright winning on the Moneyline are +105. This means that for every $1 you bet, you will win $1.05.
Now, let's look at the negative Odds example. If you bet on the Brooklyn Nets to cover the spread, the Odds are -115. If you bet $1 on the Brooklyn Nets to cover the spread, you would win $0.87. This is calculated by dividing 100 by 115, and then multiplying that by the amount you put up as the wager.
The Odds can also be EVEN, which is just another way to say $100. This means you will $1 for every $1 you put up as a bet.
In the Parlay Calculator, you can include multiple Odds for each bet you plan on making that make up your parlay.
2. The Stake: "Enter stake in $" (wager)
The "Stake" is simply the amount of money you plan to bet, or wager.
If you plan to bet $10, put "10" in this field.
Back to the Betting Odds CalculatorAs you can see the Odds can be both negative and positive.
In the above example, the Odds showing for the Brooklyn Nets outright winning on the Moneyline are +105. This means that for every $1 you bet, you will win $1.05.
Now, let's look at the negative Odds example. If you bet on the Brooklyn Nets to cover the spread, the Odds are -115. If you bet $1 on the Brooklyn Nets to cover the spread, you would win $0.87. This is calculated by dividing 100 by 115, and then multiplying that by the amount you put up as the wager.
The Odds can also be EVEN, which is just another way to say $100. This means you will $1 for every $1 you put up as a bet.
In the Parlay Calculator, you can include multiple Odds for each bet you plan on making that make up your parlay.
2. The Stake: "Enter stake in $" (wager)
The "Stake" is simply the amount of money you plan to bet, or wager.
If you plan to bet $10, put "10" in this field.
