?? What is a Parlay?

A parlay is a bet type in sports betting. Parlays are a combination of multiple straight bets added to your bet slip. These individual bets can be minus sign bets (favorites) or plus sign bets (underdogs). After you’ve added all the selections (called legs) to your bet slip, you’ll see the total odds for your parlay. For the parlay to win, the entire parlay needs to be correct. If one or more leg loses, your parlay loses as well.

??How are Parlay Odds Calculated?

The odds of all the single bet options on your bet slip are combined together. So if you want to add three bets to your bet slip, all with +100, +150, and +200 odds, you simply multiply them together, and your total odds would be 100 x 150 x 200 = +1400. The parlay odds work with moneyline bets, spread bets, and totals. Other markets are often excluded from parlays, depending on the online sportsbooks terms & conditions.

?? How Does the Parlay Bet Calculator Work?

The BonusFinder parlay calculator works with American odds and Decimal odds. You can combine multiple straight bet options, like positive moneyline odds and negative moneyline odds to find out the total American odds or Decimal odds for your parlay wager. In order to do this, you must enter at least a two team parlay + the bet amount into the parlay calculator. Our betting tools will then show you the total odds to decimal and American odds, as well as your potential payout.

Using The Parlay Calculator

Using the BonusFinder Parlay Calculator can be done in a few extremely easy steps. By following these instructions you'll have all the information you need in no time.

1

Choose bet amount

Insert the amount you want to bet on the 'Bet Amount' field. You will start with $100 but can change it any way you like

2

Add Your First Parlay Leg

Insert the odds for the first leg of your parlay

3

Add More Parlay Legs

Click 'Add Another' to add more legs to your parlay. You can insert odds for as many parlays as you like

4

Read the Results

You'll now see the combined odds, payout, and how much you stand to win on the right hand side of the screen

?? How do I see my Parlay Payout?

Most sportsbooks show your potential winnings on your parlay bet slip before you commit to your wager. However, if your sportsbook doesn’t or you are betting retail, the BonusFinder parlay calculator is a great tool for you. We’ll show you the total odds for your entire ticket and the amount you stand to gain from your different bets. If you want to see the odds of your individual wagers, you can also try out the betting odds calculator by clicking the top left hand corner of the tool.

?? How do I Place Parlay Bets?

Making parlay bets is simple. You choose two or more bets and place them on the same place slip. The more games you add, the higher our odds will be. Most sportsbooks don’t have an upper limit on the number of games you can pick, but you can only pick one team per event (you can’t choose the Bulls moneyline odds & spreads on the same bet slip for example). Once you’re satisfied with your selection of games, you’ll insert the bet amount and finish your bet slip.

?? Choosing the Optimal Parlay

Even though parlay’s have lucrative payout potential, they are also hard to hit. Top sportsbooks like to show off big win parlay payouts, but more often than not, the big parlays don’t hit (even though they are some of the most popular options to bet). If we were to choose an optimal parlay, we would choose one game that was risky but where we would have value, and then combine this single game with a few safer bets for a better chance of a nice payout.

?? Same Game Parlays

Same game or single game parlays are a new development in the gambling world. These SGPs are different from traditional parlay bets, as you can only combine multiple selections from one game, not from multiple games. The parlay payout for the SGP is not as large as it is for normal parlays, but there is a correlation in the results, so the same game parlay is easier to hit.