But there are three other main odd types that online bookies will use: decimal odds, fraction odds, and implied odds. In our above hypothetical, we were trafficking in American odds, the most common lines used in the sports betting industry. If you're betting favorites, where the payout is less than 1-to-1, you're not going to experience as large of a benefit. It all depends on the initial odds of individual events. No, the difference won't always be this big. For our example, it's clearly worth combining the four lines, because you stand to win thousands of dollars more if you parlay them. Hence the importance of a parlay betting calculator. It can give you this information immediately, so you know how this return compares to your individualized profits. There are a lot more granular details that go into it. This isn't a simple 7-to-1 payout or something. If you find a parlay betting calculator, you would then plug all four of these lines into its interface, enter the $100 you plan to wager and it would return the following information in some form:Īs you can see based on the potential return, you're dealing with high-stakes yet incredibly irregular odds. Sticking with our NFL example from before, let's assume you're looking to invest in the following four division winners: New York Giants (+350), Seattle Seahawks (+150), Green Bay Packers (+200) and New Orleans Saints (+125). These handy tools invite you to plug in the odds on each of your wagers, and it'll then generate a total payout, based on the amount you're betting, should all of your individual gambles pay off. That's where parlay betting calculators come in. When you're looking to build parlays, it's important to know whether the prospective reward is worth what you're investing.
This is parlay wagering in a nutshell: combining the outcomes of two or more bets. Should all four-hit, though, you'll stand to win much, much more than if you had placed these bets individually. By doing this, you will miss on your investment if any one of your four selections loses. But if you parlay them, you tie all four division winners to the same wager. You could, of course, lay down $25 per prediction on four separate predictions, this way the bets can be made independent of one another. Say you're checking out the latest NFL odds and want to invest $100 in division winners for all four blocks in the NFC. While this doesn't increase the possibility of a loss, because a sole miss ruins the whole bet slip, it is a great way of drumming up your potential winnings. This way, all the outcomes, whether they hit or are successful, are tied together. Parlay bets involve taking multiple wagers and combining them into a single large. Parlay Betting Calculators Breakdown How Parlay Betting Worksīefore getting into the nitty-gritty of parlay betting calculators, you need to understand what these wagers actually are.
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