Total odds<\/td> +770<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n To calculate parlay payouts manually, start by converting your American odds to decimal odds for easier calculations. Since the odds in our example are positive, the formula is (American odds\/100) + 1<\/strong>.<\/p>\n\n\n So now our odds are 3.15, 3.40, and 4.15, respectively. The next step is to multiply them (3.15 x 3.40 x 4.15), giving you total odds of 44.44. That means if you stake $100, your total potential payout is $4444.<\/p>\n\n
\n Of note, while using a betting calculator parlay is quick and easy, it always helps to cross check the potential payout manually.<\/p>\n\n
Example of a Parlay Bet<\/h2>\n \n\n \n Of all the sports and events available worldwide, some are more popular than others when it comes to parlay betting online. They include:<\/p>\n\n
\n NFL Parlays\n <\/h3>\n \n\n \n The NFL Season marks an exciting time for football enthusiasts<\/strong>. Every weekend, they can place hundreds of football parlay betting wagers on their favorite teams to potentially win a huge payout.<\/p>\n\n\n But what if there\u2019s a way to boost your potential payouts from your NFL bets? That\u2019s where NFL parlays come in handy. Suppose we place a 3-leg NFL parlay where the Green Bay Packers win outright at odds of -150, Dallas loses by less than seven points, and Kansas City and Cleveland to score less than 50 points.<\/p>\n\n
\n So the bet slip would look something like this:<\/p>\n\n
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Picks<\/th> Odds<\/th><\/tr><\/thead> Green Bay Packers – Moneyline<\/td> -150 (1.67)<\/td><\/tr> Total – Over <\/td> -110 (1.91)<\/td><\/tr> Detroit Lions – Point spread<\/td> -110 (1.91)<\/td><\/tr> Total odds<\/td> +507<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n That means if your stake is $100, your potential payout from this bet slip would be $507.<\/p>\n\n
\n NBA Parlays\n <\/h3>\n \n\n \n Taking place every year from October to April, there\u2019s so much to look forward to during the NBA, with NBA parlays ranking among the top<\/strong>.<\/p>\n\n\n The best part is that the odds are highly competitive, making the potential payouts even more worthwhile. But let\u2019s not forget that the risk multiplies the more legs you include in your parlay bet slip.<\/p>\n\n
\n As an example, suppose you\u2019re anticipating an NBA game with one of your favorite teams, Los Angeles Lakers. So you bet as follows:<\/p>\n\n
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Picks<\/th> Odds<\/th><\/tr><\/thead> Player props over\/under: Anthony Davis under 25.5 points <\/td> -120 (1.83)<\/td><\/tr> Moneyline: Goldenstate Warriors @ Lakers<\/td> -110 (1.91)<\/td><\/tr> Spread: Milwaukee @ Lakers<\/td> -110 (1.91)<\/td><\/tr> Total odds <\/td> +568<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n That means if you place a $100 wager, your total potential payout is $668. However, all your legs must be correct to win the parlay bet.<\/p>\n\n
\n MLB Parlays\n <\/h3>\n \n\n \n Undoubtedly the world\u2019s most prestigious baseball event, the MLB is among the most important markets for online sportsbooks. Further, this event offers plenty of jaw-clenching action, making it a terrific option to watch and place parlay bets on.<\/p>\n\n
\n Below is an example of an MLB parlay bet slip:<\/p>\n\n
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Picks<\/th> Odds<\/th><\/tr><\/thead> Moneyline: New York Mets<\/td> -165 (1.61)<\/td><\/tr> Moneyline: Toronto Blue Jays<\/td> -200 (1.5)<\/td><\/tr> Spread: Chicago Cubs @ LA Dodgers <\/td> -140 (1.71)<\/td><\/tr> Total odds <\/td> +313<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n\n So, if your stake is $100, your total potential payout is $313 \u2014 as long as all legs are successful.<\/p>\n\n
Types of Parlay Bets<\/h2>\n \n\n \n You'll find that all the best parlay betting sites offer several types of parlay bets across almost all sports you can think of. However, some of the most popular parlay bet types are:<\/p>\n\n
\n Teasers\n <\/h3>\n \n\n \n There\u2019s not much difference between a standard parlay and a teaser bet; after all, the inclusion process of multiple bet types on your parlay bet slip is the same. The only difference is that you can\u2019t place a moneyline bet here.<\/p>\n\n
\n As a result, the spread\/line moves towards the team you\u2019ve bet on<\/strong>, meaning you\u2019ll likely get lower odds than a conventional parlay. Plus, the line can be teased anywhere from six to 10 points.<\/p>\n\n\n For instance, the Houston Texans can move from +4 to +10 points, while the Buffalo Bills can go from -6 to 1. Nonetheless, the line is likely to be more favorable, drastically reducing the risk. Like traditional parlays, the more picks included in your teaser, the higher the potential payout.<\/p>\n\n
\n Round Robins\n <\/h3>\n \n\n \n Now, this can be somewhat confusing because a round robin bet consists of two levels. So here we go. A round robin refers to a bet type where you can create smaller picks from your larger picks<\/strong> on your parlay bet slip.<\/p>\n\n\n So, let's say you have three picks in the NFL for Tampa Bay Buccaneers, Washington Football Team, and Arizona Cardinals. A round-robin bet allows you to wager three smaller wagers on each pick, and you decide on three different two-team parlay bets. That could consist of Buccaneers @ Cardinals, Washington @ Buccaneers, and Cardinals @ Washington.<\/p>\n\n
\n So, if one of the teams you picked loses, all bets that the team is part of lose. But all other parlay bets are still eligible for a payout if they win. In case one of the games concludes in a push, the parlay bets which the team is in becomes a straight wager.<\/p>\n\n
\n Same-Game Parlay\n <\/h3>\n \n\n \n A same-game parlay is like any other traditional one, except it only consists of picks from the same game\/match<\/strong>. Here, the risk also reduces significantly since the picks are often correlated. Therefore, if one pick is correct, there\u2019s a high chance that the next one is too.<\/p>\n\n\n Let's say there's a game between the Tampa Bay Buccaneers and Kansas City Chiefs, and you believe the Chiefs will win by over 56 points. Likewise, you may also predict that Tom Brady will score big, so you\u2019ll place a player prop bet on the same game in favor of this player. You may also wager a moneyline bet in favor of the Kansas City Chiefs.<\/p>\n\n
\n As a result, hitting one leg is as good as hitting the next one, but it\u2019s insufficient to guarantee a win since sports are highly unpredictable.<\/p>\n\n
Risks & Rewards<\/h2>\n \n\n \n The key to parlay betting is being attentive and making the right picks, and to always staying focused on the event you\u2019re betting on.<\/p>\n\n
\n Although that +2000 Miami Heat moneyline looks lucrative, it may cause your entire parlay to bet. We know how enticing it is to transform that $10 wager into a profitable payout worth a couple of thousands, but remember that the more picks you include in your parlay, the higher the risk.<\/p>\n\n
\n Nonetheless, don\u2019t forget to do your homework by looking at recent player and team statistics. It\u2019s also vital to always think critically and consider all possible outcomes.<\/p>\n\n
Pros & Cons of Parlays<\/h2>\n \n\n \n Below is a brief outline of the benefits and risks of parlay bets.<\/p>\n\n
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\n Pros:\n <\/div>\n
\n High potential returns compared to single wagers<\/li>\n Perfect balance between risk and reward<\/li>\n Applies to several sports and betting markets<\/li>\n Amazing and frequent offers<\/li>\n <\/ul>\n <\/div>\n \n
\n Cons:\n <\/div>\n
\n Some odds have boosted juice<\/li>\n High risk investment<\/li>\n <\/ul>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\nThePuntersPage Final Say<\/h2>\n \n\n \n So, there you have it: everything you need to know before placing your first parlay bet.<\/p>\n\n
\n Clearly, this type of bet targets those who want to get more bang for their buck. We\u2019ve discussed the importance of always researching before making a parlay; but don\u2019t overlook the fact that choosing the most suitable site also plays a vital role in a successful parlay betting session.<\/p>\n\n
\n <\/p>\n\n
\n All in all, parlay wagers are about boosting the thrill of sport betting just as much as they are a skillful approach to sports betting. And with the right parlay betting strategy, you can enjoy the best of both worlds.<\/p>\n\n
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