A parlay is a series of bets in which the original stake plus winnings are wagered on successive bets. In other words, it's a bet that combines multiple games for a high payout. The more games you include, the higher the payout, but also the higher the risk. In most cases, all bets must win in order to pay out, making this a high-risk, high-reward form of sports gambling.
Unless you're a math wizard, we don't recommend trying to calculate parlay bets and odds in your head. Instead, go online and find a great parlay calculator. They're easy to use and, best of all, more accurate than you scribbling calculations on a cocktail napkin. Here are five parlay calculators worth trying out. Just make sure you know the money lines and how much you're wagering ahead of time.
Oddsshark Parlay Calculator
This mobile-friendly parlay calculator comes with easy instructions. It also allows you to choose your Odds Type (American, Fractional or Decimal) and enter up to 100 bets on a slip (although we're not sure who would actually wager on a 100-bet parlay). Still, if you like to go big with your parlay bets, it can handle it. Try it out.
Calculate Stuff's Parlay Calculator
This mobile-friendly parlay calculator is for those who already know how to use it. There are no instructions, just the fields to insert your odds and bet to quickly calculate your parlay payout. The only drawback is that it only allows for up to 8 odds to be entered. But let's face it, most gamblers are going that deep anyway. Try it out.
Don Best Parlay Calculator
OK, it's not mobile friendly, but it does a good job of explaining the basics of how to use it. If you're on a desktop or tablet, give it a shot. You can add the odds for up to 10 separate games in your parlay. Try it out.
Vegas Insider Parlay Calculator
Visually, it looks like the site was built in 1997. But, if you look further, you realize that it does have a solid parlay calculator (up to 8 bets), and also does a great job of explaining the basic odds of the parlay. For example, it shows that a three-team parlay may get you 6/1, while a four-team parlay might pay 10/1, and so on. It's not mobile friendly, but may be worth the time to visit on your desktop if you're new to parlays. Try it out.
Parlaytor 2 Lite App Parlay Calculator
If you don't have internet access, it might be a good idea to have an app handy. This parlay calculator app is free and allows you to use either the Moneyline, Decimal, or Fraction options to input your games. It offers two modes—Traditional or Dynamic. Be sure to use the Traditional mode. For some odd reason, the Dynamic mode's calculator has the "reset" button next to the "0", which is a design flaw. Nevertheless, this could come in handy in a pinch. Download it here.