# Parlay Calculator

The parlay calculator provides the overall payout and profit potential of several legs. This page also offers several helpful parlay wager info.

Parlay betting is attracting bettors thanks to its astounding payouts. To see the potential earnings of this type of sports wager, you can use our parlay calculator below. You can also find other informative content regarding parlays below.

## Payout Calculator

Use this parlay payout calculator to know how much you would earn if your parlay ticket wins. This parlay calculator works with American moneyline, decimal, and fractional odds.

How To Use Our Parlay Calculator

To quickly know the payout and net profit of your parlay, follow these simple steps:

1. Set the odds format
2. Enter the amount you plan to enter (This works for any currency)
3. Enter the odds of the legs you plan on adding within the "List of Parlay Bets."
4. Click on the green + button to add the leg.
5. You will need to convert markets with an odds format different from the one you use for the parlay calculator.
6. Review the payout and the net profit of your total parlay bet at the bottom.

## Brief Explanation of Sports Betting Parlays

Parlay bets or accumulators are a collection of wagers that forms a single bet. Because all markets are together, they have a higher payout rate than the sum of all bets when made individually. This incredibly high payout comes from the staggering low odds of a parlay winning since it requires every leg (wager) to win. Parlay bets work by creating a singular wager that accumulates several bets' risks and rewards.

Because of the wager's arrangement, parlays with numerous legs have higher payouts than ones with only a few legs due to their chance of winning. Parlay payouts are the reason why bettors prefer them over any returns of underdog wagers or markets with +400 odds since the latter has a decent chance of winning.

## Fixed Parlay Payout vs. Actual Odds

You will get the payout for a certain number of legs from the parlay calculator. However, calculating the payout of this sports bet will not provide the odds of your wager. 2-teams or 3-team parlay have no difference since the odds are on par with the payout of these wagers. The odds and payout difference change with a 4-team parlay or higher.

As you increase the legs of your parlay, the gap between your return and odds of winning grows wider. This difference makes a higher parlay team risky with less payout than its actual odds. You can see the differences in the infographic below.

## Multi Leg Parlays

Finding the correct number of legs for your parlays depends on how much you want to take a risk. Below is a quick compilation of the common parlay wagers among various bettors and their respective assessments.

### 3-Team Parlay

3-team bets are the best possible parlay wager with a small risk and decent payout, which is much more than what you can expect from a 2-team parlay. You will only get a 2.6 to 1 or 13 to 5 payout with only two legs in your parlay, while three can get you a 6 to 1 payout.

Regarding actual odds, 3-team parlay payouts have an equal representation of their odds than parlays with more legs.

To show you what it means for a parlay to have no gap in its payout and odds, imagine betting \$100 on a favorite to win at 6/1. You will get a payout of \$600 for your 3-team parlay, which is the direct payout of a market with odds of 6/1. For a 4-team parlay, imagine the choice has 12/1 odds to win. Usually, you would get \$1,300 when you bet \$100. However, the payout gap makes this bet 10/1, so the payout is only \$1,100. You are backing a chance with odds of 12/1, giving a payout for odds of 10/1 with a 4-team parlay. This difference is why a gap is significant for parlays with more legs. Fortunately, there is no gap with a 3-team parlay, so you enjoy an equal amount of risk with your payout.

### 5-Team Parlay

5-leg parlays are the best choice for decent risks-vs-reward rates where you only need five wagers to win. While the chances of losing either of your five legs are still significantly high, the payout equivalent makes up for the risk with a 20 to 1 payout. You can consult the sample chart below to help you see how incredibly high the return is for a 5-team parlay.

Regarding the payout vs. actual odds, the gap is somewhat higher where the odds of this parlay winning is 24/1 while the payout is 20/1. However, the gap is not that farther when you consider that the payout of a 5-team parlay is more than three times that of a 3-team parlay and is double of a 4-team parlay. Regarding value, a 5-team is a way for bettors to look for added risks with substantially higher returns.

### 7-Team Parlay

With its number of legs, 7-team parlays are much riskier, with an actual odds of winning at 92/1. Bookies have made money from bettors who think having seven legs is winnable when all wagers are made of favorites. However, adding more chances for a parlay to fail is just a way to increase the risk of losing the whole bet.

Those who understand the risks of a 7-team parlay and use markets they believe are likely to win can expect an incredibly high payout of 75 to 1. This payout is more than three times what you can get from a 5-team parlay and 12 times more than a 3-team parlay. Because of its number of legs, the payout and actual odds of winning are broader with the 7-team parlay. This difference is still an acceptable gap than those of 8-team parlays or higher and is suitable for those betting to risk.

## Parlay Calculator: FAQ

### What is the purpose of the BETANDBEAT parlay calculator?

The BETANDBEAT parlay calculator provides the possible payout of the selected markets for your wager. For professional bettors, the calculator can show the potential ROI of this sports wager. In addition, the calculator can compute the legs in three different odds formats.

### Can I add sports betting from different sports betting sites to the calculator?

You can input betting markets from various sports betting sites. However, you will need to convert all wagers into one format (American, decimal, or fraction) to get an accurate calculation of your parlay wager. If you need to convert the market, BETANDBEAT has an odds converter available.

### Why is the payout result of the calculator different from a sportsbook?

Various sports betting sites have their method of determining the payout of parlay wagers within their platforms. Their prices are also likely influenced by a vig or vigorish, which is how bookies earn money.