Parlay Bet Calculator – How to Use It

Have you ever wanted to find out quickly how much a parlay will potentially pay out, without going through the hassle of adding the selections to your bet slip?

This is where using a parlay bet calculator is helpful and in this article, we’ll show you how to use our parlay bet calculator. It is important to understand how to use a parlay bet calculator to your advantage when wagering and the benefits of doing so. 

Let’s start by looking at a simple example of how I’ve used them in the past.

What Are the Benefits of Using a Parlay Bet Calculator? 

I once had three selections that I wanted to parlay together during the NFL season – moneyline bets on the Chiefs, 49ers and Broncos. I knew that the odds on these could be very different from one sportsbook to the next. So, to save the time and hassle of adding the picks to each bet slip individually, I used a parlay bet calculator to work out which book offered the optimum odds.

Not only can you work out the best sportsbook for that particular parlay, but you can also determine the potential payout of two or more parlayed picks. This will help you to decide whether such a wager would be a value play or not.

The bet payout calculator parlay also lets you decide the exact stake you want to use, by showing how much you will potentially be paid for a winning parlay of different stake sizes.

How Do I Use the Parlay Bet Calculator? 

A sports bet parlay calculator is intuitive and straightforward to use, and you only need to enter a few details to get a full lowdown of your expected payout from a wager.

Here is a step-by-step guide to help you learn how to use a parlay bet calculator:

• Enter Number of Picks: Choose the number of picks in your parlay.
• Input Odds: Enter the odds for each selection.
• Enter Stake Amount: Input the amount you are wagering.
• Click Calculate: Press the ‘calculate’ button to see the potential payout.
• Compare Sportsbooks: Use the calculator to compare potential payouts across different sportsbooks.

Using the Parlay Bet Calculator: My Real Life Experience:

Let’s return to the parlay I placed during the NFL season. I wanted three moneyline bets in my parlay – if you’re new to wagering, and aren’t sure what a multiple bet actually is, check out our article: What is a parlay in sports betting?

• Chiefs (vs Ravens) -200
• 49ers (vs Rams) -100
• Broncos (vs Cowboys) +250
  

1. I loaded up a parlay bet calculator and set it to work, switching the number of selections to three, before entering the odds of each individual pick in the box provided.
2. I entered my stake, which on this occasion was $10, and quickly the calculator delivered my result: the $10 parlay would potentially pay $95.
3. I then used an odds comparison site to price up the best lines for my three picks, before entering the different combinations in the calculator to see which sportsbook would pay me the most, should my wager win.

It was a no-brainer to use the parlay calculator: it helped me to make a more informed betting decision.

Interested In Other Betting Calculators? Check Out Our Collection! 

That goes without saying, using a parlay calculator will truly enhance your sports betting strategies, as it did for me! The parlay calculator isn’t the only betting calculator you can use to add genuine value to your wagering.

There’s a range of betting tools available, from tax calculators to a Dutching tool, which shows you how to split your stake across multiple selections in the same market, such as Super Bowl winner. Anything that helps your betting performance should be seriously considered!