How to calculate the parlay payouts? – Betting Guide

parlay payouts

Are you looking for a new opportunity to gain a huge payout with a minimum bet on a Sportsbook? Then, keep an eye on parlay payouts.

Winning on a parlay bet depends on whether your selections will all become successful. If not, then you lose your multiple bets. This is also the reason why parlay payouts are much higher when compared to straightforward bets.

What’s a Parlay Bet?

This is a type of bet on sports betting wherein you can make multiple bets and combines them into one betting slip. All the wagers on the ticket must win to get the parlay payouts. If ever one pick on the parlay is not successful, then your entire betting ticket will be a loser.

How do parlays work?

Parlay bet offers a large number of winnings. Thus, the more selections you choose, then the higher your payout will be. However, the large amount of parlay payouts comes with high risk, too. Naturally, more selection will result in the stakes being hard to win. Hence, the more unlikely your parlay odds to be successful, the more dramatic your winning potential will be. 

That being said, it will be very difficult to make solid betting strategies with multiple bets. It is because many factors can affect your odds and will not be in your control.

How do parlay bets work?
How do parlay bets work?

Parlay Payouts: What’s a parlay and to make a successful selection?

To make a successful selection on parlay bets, you need good discipline, selection, and a large dose of luck. You also need to make meticulous research on the betting market before deciding.

So, when to place a parlay bet?

For starters, when you are betting on sports, you should see it as a form of entertainment and not an investment. It is also important that you stick with your betting limits. By doing so, then there is no wrong timing when placing a parlay bet.

If you want to make 3 money line bets on 3 matches in one night, then you might as well bet on a parlay. It is because parlay bets give you a much higher payout potential.

However, making 3 bets successful in one parlay can be a lot tougher than making individual 3 money lines. So, you must choose wisely when deciding with parlays.

How do calculate the parlay payouts?

Calculating the payout on parlays involves few math skills. So if you want to calculate your potential payout, it is best to use the SG parlay calculator.

Parlay payouts manual calculation

To do the parlay calculation, you need to convert your fractional odds into a decimal format. Then, multiply the decimal odds altogether to get the overall parlay odds (multiplier). Afterward, multiply your bet amount by the multiplier to get the total returns. Finally, subtract your initial bet to get the parlay odds. 

So, if you are backing up three teams at 0.91/1 odds, your formula will look like this:

Parlay Odds = 1.91 x 1.91 x 1.91

Parlay Odds = 6.97 – 1

Parlay Odds = 5.97

To get the potential payout, multiply the total parlay odds with your initial stake.

Potential Parlay Payout = 5.97 x $100

Potential Parlay Payout = $597

How to compute the parlay payouts?
How to compute the parlay payouts?

How to use a parlay calculator?

If you want the quickest way to calculate your parlay payouts then, it is best to use a parlay calculator. To do the computation, you follow these easy steps.

In the parlay calculator, you will see boxes under odds. Then, enter the Moneyline odds on each game you are backing out on your parlays.

If you are betting on the favorite, then enter the Moneyline with a minus sign at the beginning (example: -120). Notably, standard total wagers and point spread have Moneyline odds of -110. On the other hand, a bet on the underdog does not need a plus sign (example: 120).

It is also unnecessary to include the decimal points. Usually, the parlay calculator has 4 default boxes for odds. However, if you are only betting on three, then you can ignore the boxes that are not included in your parlay bets. Otherwise, you can put “0” on each box. In case you have more than selections, then you can click the “+ Add line”.

Afterward, enter the amount you betting in the box next to the “Amount ($)”. Then, click on the “Calculate” button. That’s it, your parlay payouts will appear on the box next to “Payout”. Notably: The payout amount does not include the number of bets you have wagered.

Parlay Payouts: What will happen when there is a Tie?

If the tie (push) happens in one of your selections, then the parlay will disregard your wager on that event. Also, the number of total bets will be lower down. If this happens, then your potential parlay payouts will be lower, too. Notably, not all sportsbook betting in Singapore offers the same rules in the parlay. So, make sure that you read the Terms and Conditions.

In some Sportsbooks, they allow their punters to bet on ties. Here, they allow three-way match-winners. It means you can bet on either team or a DRAW.

Parlay Payouts: Pros and Cons of Parlays

The advantage of parley bets is that you have a higher potential payout than single wagers. Parley bets are great when using free play bonuses. Some sportsbook offers correlated parlay potential. Moreover, parlay wagering offers tons of thrills and excitement.

The disadvantage of parlay wagering is that fixed odds favor the bookmakers. Also, high rewards come with high-risk. Some sportsbooks in Singapore do not accept correlated parlay bets. Higher chance of draining your bankroll when your parlay bet continues losing streak.

What are the pros and cons of parlay payouts?
What are the pros and cons of parlay payouts?

What are correlated parlays?

These types of parlays are based on certain combinations. It’s either your parlays will both win or lose. One great example of correlated two-bet parlay is betting on Lakers to win. At the same time, you are also backing Lebron James of going over the total points.

Parlay Payouts: Different types of parlay bets

Over/ Unders (Bets on Total)

This type of parlay bet is made on the total amount of points that will be scored by both teams during the game. The bookmaker is setting the “Line” wherein you will base your decisions. Thus, you are betting if the points scored will be over or under that line.

Point Spreads (The Spread) – Parlay Payouts

This type of bet makes sports betting thrilling and exciting. Without the Point Spread, punters are all just going to bet on the favorite team. Thus, it will break any sportsbook in months because the punter will be making a lot of money.

The point spread will even out the playing field between the favorites and the underdogs. Thus, the bookmakers are talking points from the favorites then give them to the underdogs.

Teasers

Teasers’ parlays allow you to move the point spread favorable to you. Although you will get a lesser payout from winning the teasers, still, it improves your odds of winning the parlay bets.

Pleasers

Pleaser bets are only done on parlay cards and you are required to make at least 1 more bet. For an instance, you are making pleasers parlays that move the Colts from -3 to -10.5. Then, you are betting that the Colts will be beating the Chiefs by at least 11 points.  

When to make Pleaser parlays?
When to make Pleaser parlays?

Moneyline

These Moneyline bets are removing the point spread. Thus, you are betting straight-up on who will win or loses in the game.

Round Robin

Round Robin parlays allow you to place multiple parlays bet all at once. In short, you are making multiple parlays. For instance, you are selecting 8 teams and totals for the Round Robin parlays. At the same time, you are also betting on tie to as many 3-team combinations as possible.

Parlay Payouts FAQs:

Are Accumulators and Parlays the same?

Yes. These two are the same thing. In the USA, the word parlay is commonly used while the word Accumulator is used in the United Kingdom and Europe. Both types of bets represent the same thing.

What are parlay cards?

A parlay card is a more popular way of placing parlay bets on casinos. These are long narrow cards where you are filling in the numbered circles on the side. You can also place the point spread you want to include on your bet.
Then, choose the teams and totals you want to include on your parley. Once done, presents this card to the ticket writer in the Sportsbook. Then, includes how much you are going to wager.

When do you use a parlay calculator?

We recommend that you always use a parlay calculator when you decided to make parlay bets. It helps you evaluate the overall parlay payout potentials. Also, it helps you determine the implied probability to win in a parlay.

How to get the best price on parlay bets?

It is very rare to find a Sportsbook the offers the best price on parlay bets. What you need to do is partnered with a bookmaker that keeps its lines competitive for the best possible price on a bet.

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