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What Parlay Calculators Do

Betting is so much fun. However, this can be frustrating if you don't know your way around. This is the reason why some tools have been developed to make things easier.

Although there are numerous tool options to choose from, depending on your preferences, the Parlay bet calculator stands out. What is a Parlay bet calculator? And when will I need to use it? This article aims to answer all these questions.

Parlay Bet Definition

In public sports betting, parlay bets are among the most common wagers. A parlay is a single ticket with multiple bets. One bet slip might contain several wagers on multiple NFL or NBA games. The only catch with parlay wagers is that they can only pay off if every single wager wins. Betting on many sports at once can make it difficult to keep track of your odds and winnings. This is where the parlay bet calculator comes in.

What is a Parlay Calculator?

If you're thinking about placing a parlay wager, the parlay calculator will help you estimate how much you could win based on the total amount of your wagers and the odds of each outcome. Create a parlay wager involving many games and get an estimate of your potential payout with the help of the free parlay calculator. A larger payout is possible, but the lower your chances and higher your risk will be, the more bets you include and the larger the underdogs. The online parlay calculator is the best way to figure out the potential payout of a parlay wager across many sports.

How To Use A Parlay Calculator

Most parlay calculators will allow you to customise the presentation of your odds. The Americans use the metric system (-500), but you can convert it to fractions (1/5) or decimals (1.20) if you choose. Select your preferred odds format in the corresponding drop-down menu. Put your initial Bet in the Bet #1 space. Select Add Bet to include additional bets on your ticket. A minus symbol (-) must precede odds when betting on a favourite. There is no need to use the plus sign (+) for underdogs.

What you want to bet should be entered in the Bet Amount field. The maximum amount is $100, but you can wager as little or as much as you like. Should you make a parlay bet or not?

If you ask two gamblers the same question, you'll probably get contradictory answers. The parlay-hater will likely make a statement along the lines of "Parlays are sucker bets." Alternatively, "You won't find accurate parlay odds at any sportsbook." As an alternative: "Losing parlay bettors built all those casinos in Vegas."

If you ask a bettor who endorses parlays, they'll likely tell you, "You can bet little to win a lot." Or, "Parlays increase your earnings potential when you're on a winning streak." The truth, of course, lies somewhere in the middle.

Given that most gamblers would wind up with a win rate of roughly 50% overall, betting on a two-team parlay is a losing proposition if you go 1-1. It's tough enough to win a single game, let alone a parlay, which is why the bookmakers adore taking them. On the pro-parlay side, the payouts are more alluring than those of PowerBall or MegaMillions, and the odds of winning a large sum are higher. Furthermore, as was previously noted, your parlay profits may be significantly increased if you were routinely winning at least 55% of your straight bets.

Final Thoughts

When you notice a pattern or discover a system, you should wager parlays. The oddsmakers haven't fully compensated for this, giving you an advantage on both straight bets and parlays. Whatever the case may be, Parlay bets and Parlay bets calculators go hand in hand.