Calling all three bets correctly on one parlay is a lot tougher than calling three moneylines, so choose wisely: you're not going to have the other two bets to fall back on if one leg fails.Sports betting odds are calculated with the main goal for sportsbooks being to receive equal money on both sides of a bet.įor example, if the Kansas City Chiefs are a -10 point favorite against the Oakland Raiders and are getting 90% of the money, the sportsbook would likely adjust their line so they don't finish in the negative if the Chiefs cover that spread. However, if for example you want to place simple moneyline bets on three matches happening on the same night, you might as well turn it into a parlay for a much higher potential payout. When should I place a parlay wager?įor starters, wagering is for entertainment and not investment, so as long as you're betting within your limits, there's no wrong time to place a parlay wager. Pick a sportsbook that keeps its lines competitive for the best price possible on a bet. The short answer: sportsbooks tend to make a good chunk of their money off of parlay bets, and it's rare to find a bet priced at what you'll expect. How can I get the best price on a parlay bet?

If, for example, the result of multiplying legs of a parlay bet is 6.97, for a stake of $100, you stand to win $597 ( 6.97 x $100 minus your initial $100 stake). Then, multiply those decimal odds together for the overall odds for that parlay.

To do the math: convert the odds on your lines to decimal format (or simply use our odds converter). Parlay Calculator FAQ How do I calculate a parlay payout?Ĭalculating a parlay payout involves a bit of math, so the best and quickest way is to use our calculator above. Looking for Super Bowl 57 betting resources? We have you covered! The BetMGM app is available for mobile wagers in Washington DC, but only at Nationals Park. *In-person registration and betting only in MS.

Sports bettings odds calculator