What is a Parlay Calculator?
A parlay calculator can help you calculate the true parlay odds, the true parlay win amount and the percentage the premium paid over, which you can use to compare with the parlay odds you got with your bookie. A parlay is when you play two or more games on a coupon, where you have to win all games in order to get a payout. This means that if you bet on five games and you one of them doesn't go as you predicted, you don't get any money even though you got four matches correct. Parlay is a more difficult way of betting, but is very popular due to the high odds players receive which provides them with a very high payout.
The parlay calculator will help you determine the likeliness of you actually winning on the parlay bet you are about to place, what you should receive as payout and what the real odds mathematically and parlay wise are. This helps you spot the bookies edge over you in the long run and will determine how profitable it is for you to continue doing similar bets.
How Do I Use It?
Using the parlay calculator is pretty straight forward for most users. You will basically need to fill in the different fields and calculate your result. Let's have a look at some of the things you have to fill in, in order to use the parlay calculator properly:
- Odds Offered - This field is where you fill in the odds that the bookie offered you for your parlay bet
- Risk Amount / Win Amount - Here you choose between how much you want to bet in total or how much you want to win
- Number of Games - choose the amount of games that you have in your parlay bet
- Game Lines - Each game will have a game line, where you will have to enter the exact odds of each game you have betted on
Once that has been filled out the correct way, there is nothing left to do than to press calculate and see the result. You will then be shown the mathematical odds, true parlay odds, true parlay win amount, premium paid over mathematical odds and premium paid over parlay odds. These information will help you establish what the house edge is and how big your chance of winning actually are.