What is a parlay calculator?
A parlay calculator is a simple bit of software that reveals how much you would stand to get in returns should you win your parlay bet. It works just like a regular odds calculator only that you get to add more selections. As such, you can use a parlay bet calculator with just two selections or keep adding selections to make the odds and potential returns go sky high.
BetMGM Review
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Bet now
Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.
DraftKings Review
New Customers: Bet $5+ Get $300 in Bonus Bets If Your Bet Wins + 3 Months of League Pass On Us!
Bet now
Bet now
Gambling Problem? Call 1-800-GAMBLER or visit RG Help . Call 1-888-789-7777 or visit Helpline and Chat - CONNECTICUT COUNCIL (CT). Hope is here. Home or call (800) 327-5050 for 24/7 support (MA). Visit Home (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ D.C.) and present in select states (for KS, in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. See terms at FanDuel Sportsbook
Pros and cons of using a parlay odds calculator
You can go ahead and make your parlay without a calculator by all means. However, the following pros and cons of using a parlay bet calculator should be checked out first:
Pros & Cons
- See your potential parlay bet returns
- Add selections and see the potential payouts rise
- Experiment with odds to minimize risk
- Understand whether the parlay is worth betting on
- Parlay betting is always risky by nature1
Walkthrough guide for using our parlay payout calculator
The good news is that our parlay bet calculator is much simpler to use than something like an arbitrage betting calculator. But here is a step-by-step guide for how you could start calculating your parlays:
- Research the bets that you want to include in your parlay and write down the odds
- Enter the first odds into our calculator
- Add the next odds amount
- Keep adding odds selections until your parlay is complete
- Type in your betting stake
- Examine the final parlay odds and your potential payout
Our favorite sports bonuses in 2025
1.
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Min. Deposit: $5
Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.
2.
New Customers: Bet $5+ Get $300 in Bonus Bets If Your Bet Wins + 3 Months of League Pass On Us!
Min. Deposit: 5
3.
Bet $5 Get $150 in Bonus Bets If Your Bet Wins!
Wagering (WR): 1x Deposit, Min. Deposit: $5
Gambling Problem? Call 1-800-GAMBLER or visit RG Help . Call 1-888-789-7777 or visit Helpline and Chat - CONNECTICUT COUNCIL (CT). Hope is here. Home or call (800) 327-5050 for 24/7 support (MA). Visit Home (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ D.C.) and present in select states (for KS, in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. See terms at FanDuel Sportsbook
4.
Bet $1, Double your Winnings on your Next 20 Wagers. Up to $25 Max Bet Per Boost
Wagering (WR): 1x Deposit
21+ New users only. Must register using eligible promo code. First bet after registration must qualify. Max. Bonus Bet: $1,000. Bonus Bet expires 14 days after receipt. Void where prohibited. See Caesars.com/promos for full terms. Gambling Problem? 1-800-GAMBLER (1-800-426-2537)
5.
Bet $5 & Get $200 in bonus bets
Wagering (WR): 1x Bonus
Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. This Referral Code is used for marketing/tracking purposes only. $10 minimum deposit. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New customers only. Available in app only. Max. prize, game restrictions, time limits and T&Cs apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.
An example of our parlay bet calculator in use
Let’s take a closer look at how you could use this parlay calculator in real life. Imagine that you wanted to bet on the weekend’s NFL action. You decided to back the Bills, Eagles and Broncos to all win their next game. As such, you could fire up our parlay calculator and do the following:
- Enter in the Bills moneyline odds of -200
- Type in the Eagles moneyline odds of -150
- Add the Broncos moneyline odds of +300
- All of this would add up to give you total parlay odds of +900
You decided that this bet looked too risky, and so you replaced the Broncos odds of +300 with a safer bet that the Saints would win their next game with odds of -170. This would produce total parlay odds of +297 that were much less risky, and so you would enter a $10 betting stake that could have potential returns of $29.71.
Handy tips for using our sports betting parlay calculator
Using a parlay calculator is very different to using something like a hedge bet calculator, and so here are some simple tips to help you get started on your parlay bets:
Remember to use our calculator in conjunction with any available parlay betting promos. After all, many sportsbooks will have deals that will refund your losing parlay if just one selection lets you down. Plus you might even be able to find deals that will give you a profit boost for adding more selections to your parlay.
Experiment with your selections
Our calculator gives you a great way to experiment with the number of selections in your parlay. By playing around with the number of selections, you’ll quickly see how the odds can spiral out of control, and that you are probably better off including just two or three selections in your parlay bet.
Only include bets on the favorites
Following on from the above, parlay bets have a much greater chance of succeeding if you pack your parlay with favorites. After all, favorites will have lower odds which means that when combined they will produce a parlay that still has a reasonable chance of winning. Don’t forget to keep your betting stakes relatively low when parlay betting as these bets are notoriously hard to pull off.
Conclusion - Get started with our free parlay calculator
Our parlay calculator offers you a fast and easy way to figure out whether that parlay bet is worth making or whether you should try something a little less risky. After all, you can play around with the selections, odds and your stake and this will help you see whether you are out of your depth or not.
Don’t forget that we have plenty more
betting calculators
that’ll help you find a suitable bet if that parlay looks a little too risky. But for now, make sure that you use our parlay bet calculator to get an extra level of insight into this notoriously risky sports bet.
Our favorite sports bonuses in 2025
1.
Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win
Min. Deposit: $5
Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA) 21+ only. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). Rewards are non-withdrawable bonus bets that expire in 7 days. In partnership with Kansas Crossing Casino and Hotel. See BetMGM.com for Terms. US promotional offers not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.
2.
New Customers: Bet $5+ Get $300 in Bonus Bets If Your Bet Wins + 3 Months of League Pass On Us!
Min. Deposit: 5
3.
Bet $5 Get $150 in Bonus Bets If Your Bet Wins!
Wagering (WR): 1x Deposit, Min. Deposit: $5
Gambling Problem? Call 1-800-GAMBLER or visit RG Help . Call 1-888-789-7777 or visit Helpline and Chat - CONNECTICUT COUNCIL (CT). Hope is here. Home or call (800) 327-5050 for 24/7 support (MA). Visit Home (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ D.C.) and present in select states (for KS, in affiliation with Kansas Star Casino). First online real money wager only. $5 first deposit required. Bonus issued as nonwithdrawable bonus bets which expire 7 days after receipt. See terms at FanDuel Sportsbook
4.
Bet $1, Double your Winnings on your Next 20 Wagers. Up to $25 Max Bet Per Boost
Wagering (WR): 1x Deposit
21+ New users only. Must register using eligible promo code. First bet after registration must qualify. Max. Bonus Bet: $1,000. Bonus Bet expires 14 days after receipt. Void where prohibited. See Caesars.com/promos for full terms. Gambling Problem? 1-800-GAMBLER (1-800-426-2537)
5.
Bet $5 & Get $200 in bonus bets
Wagering (WR): 1x Bonus
Minimum $10 deposit required. Minimum odds -500 of greater. Bonus Bets wager excluded from returns. New customers only. T&CS, time limits and exclusions apply. This Referral Code is used for marketing/tracking purposes only. $10 minimum deposit. Paid in Bonus Bets. Bonus Bets wager excluded from returns. New customers only. Available in app only. Max. prize, game restrictions, time limits and T&Cs apply. GAMBLING PROBLEM? CALL OR TEXT 1-800-GAMBLER (AZ/CO/IL/IN/KS/KY/LA/MD/NC/NJ/OH/PA/TN/VA) or 1-800-BETS OFF (IA). 21+ (18+ KY). Must be present in AZ/CO/IA/IL/IN/KS/KY/LA (select parishes)/MD/NC/NJ/OH/PA/TN/VA.
Parlay bet calculator FAQ
Can I use a free parlay calculator?
Yes, the parlay bet calculator on our page can be used completely free of charge. Plus it’s wonderfully simple to use too.
Is there a parlay calculator app?
Quite likely, but the parlay calculator featured at our resource is designed to be fully workable from any smartphone or tablet. Perfect for creating the perfect parlay from your iOS or Android device.
Can I get a 12 team parlay calculator?
Of course, the parlay betting calculator on our resource is perfectly customizable to work with even the most outlandish of parlay bets. Just remember that the more selections you include, the less chance you have of winning.
Is there a parlay calculator with decimal odds?
Yes, our parlay calculator allows you to switch the odds format to suit your needs best. After all, you will want a quick and easy way to type in the odds featured at your preferred sportsbook.
Go to BetMGM
