How to Calculate a Win on a Parlay Bet
A parlay bet is a sports wager that involves two or more sporting events. Parlay bets have a much larger payout than a straight bet, and the more games included in the parlay, the higher the payout. For instance, a bettor could place a parlay bet that includes the Giants playing the Eagles, the Broncos playing the Chargers, followed by the Saints playing the Redskins. However, in order to win the bet, he would have to correctly pick the winner in all three games. Should he pick wrong in just one of the games, then the entire parlay bet is lost.
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Instructions
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1
Get the money line for each individual game in the parlay.
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2
Convert the money line into a decimal format.
If the money line is a positive number, then divide it by 100. Should the money line be a negative number, then remove the negative sign and divide 100 by the money line to get the decimal.
For example, if you are taking the Yankees with a money line of (+130) and taking the Tigers with a money line of (-115) then the conversions would be done as follows:
(+130) = 130 divided by 100 = 1.3
(-115) = 100 divided by 115 = 0.87
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3
Now add 1 to each of the decimal values.
Our examples would look like this:
(+130) = 1.3 + 1 = 2.3
(-115) = 0.87 + 1 = 1.87
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4
The total winnings for the parlay bet is calculated with the following formula:
Total Winnings = (Bet Amount x Decimal1 x Decimal2) - Bet Amount
If you placed a $100 wager on the parlay used in Steps 2 and 3, then the total winnings would be:
($100 x 2.3 x 1.87) - $100 = $330 (after rounding)
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Tips & Warnings
It is recommended that a parlay calculator be used when placing actual bets to eliminate the possibility of error.
While experts in the gambling industry classify parlays as "exotic" bets, those who make a living from sports betting tend to call them "sucker bets." The reason is that the odds for winning are much lower than straight bets. It is recommended that players be mindful of the low odds of winning associated with parlay betting.
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