Parlay Casino Games
The Parlay Calculator indicates how much money sports bettors can win if they placed a bet on a certain number of games. For example; if I were to place a $20 wager on 3-teams football parlay at -110 money line odds, my parlay payout would be $119.16. Parlay Games are a Canadian software developer offering multiplatform gaming solutions aimed at the free slots and pay to play markets. With its own licenced online platform, Parlay offers games.
The Parlay Calculator indicates how much money sports bettors can win if they placed a bet on a certain number of games. For example; if I were to place a $20 wager on 3-teams football parlay at -110 money line odds, my parlay payout would be $119.16.
Therefore, the parlay calculator will count the amount of picks you have chosen (3), times the amount of each money line (-110), times your wager ($20) and then show you how much you would win on that wager ($119.16).
Please notice, when putting in favorites, you need to add the minus sign in front of the number. Example: If the Boston Red Sox are a PK -150 favorite vs. the New York Yankees, enter '-150' in the box.
Same thing with NFL Football, if the New England Patriots are a -7 point favorite, enter (-110). If they are -220 on the money line, enter -220.
How much does it pay and how do you win a parlay?
In order for a parlay bet to win, every one of your wagers must win or push (tie). If any of the other selections on your ticket loses, your wager loses, regardless of the outcome on the other games. Also, if one or more selections are a tie, postponed, incomplete, cancelled or rescheduled for another day, then the wager reverts to the next lowest number. For example, if you place a 5-team parlay and have 4 winners and a tie, your wager pays out as a 4 team parlay. If you place a 2-team parlay and one team wins and one tie; the wager becomes a straight single bet.
Try it out, simply put in the numbers and the parlay calculator will do the rest!
What is a Parlay?
What is a 'Parlay'? Two or more teams or totals can be combined to make one wager. Let's say you bet $100 on the Pirates +150 and the Pirates over 8 at -120 in a two team parlay. Use the following steps to determine your winnings or should we say potential winnings.
6 Game Parlay Odds
Calculate the parlay factor for each piece. If the price of the piece is positive, simply add one to get the factor. If the price of the piece is negative, calculate the reciprocal, multiply by -1, and then add one (1.50 + 1 = 2.50 -1.20). Take the reciprocal or divide one by the negative price (1/1.20 = 0.83 + 1 = 1.83).
Multiply all factors. Multiply this factor times the bet amount. The result is the payoff (including your bet): 2.50 x 1.83 = 4.57. Now multiply the result by 100 (4.57x100). $457 is your total return if both pieces win (including your bet amount).
Subtract your bet from the figure calculated in 2. The result is your winnings $357 ($457 - $100 = $357). Did you get that? Or, go to www.parlaycalculator.com and let the calculator take care of it for you!
Do you need parlay betting advice?
If you're a parlay type bettor that likes to bet the total and side of a game, here's a piece of advice.
If you bet on the Favorite, take the OVER. If you like the UNDERDOG, take the UNDER. The logic behind this theory is simple.
For example: when a team is favored by 7 points or more with an OVER of 44.5, all you need is for the underdog to get up ahead or stay in the game as long as they can. Because the favorite is more likely to catch up and put up some points on the board, the percentage is good to cover the over. As for the dog, if they can keep the favorite off the board, the percentage of the UNDER and dog covering is on your side.
Say what you want against parlay betting, I like it! Many experts will discourage their friends from betting on parlays, I'm the opposite. If you buy a lottery ticket, in my view you're buying into the parlay strategy.
10 Game Parlay Payout
Sportsbook managers tell me all the time, 90% of the players end up losing their entire deposit. Get the best casino bonuses that you can get, while shopping for an online casino or sportsbook.
Take that bonus money and take a shot at a 5-team or 8-team parlay to try and get that one big score, go for it!
Don't do it every day and don't wager the farm! Here's what I like to do, come NFL season, I make my 1 or 2 big wagers and then I go 'parlay tripping' with an 8-team to 10-teamer. Let's face it; if you can hit an 8-team or 10-teamer, you're going to cash a nice ticket. Just live within your means and bet what you can afford to lose.
Anyone familiar with sports betting will recognize the term “parlay” as a type of combination wager in which all selections must win in order for the entire bet to be successful. It has the advantage of paying out at higher odds than if each selection had been backed individually, but with the drawback of losing if even one selection fails. For casino games, the Parlay betting system refers to a form of positive betting progression, whereby a series of two or more increasing wagers are dependent upon winning each successive bet. It is sometimes called “pyramiding.”
How does the Parlay betting system work?
The object of Parlay betting is to take advantage of consecutive wins. This is accomplished by reinvesting profits in the subsequent bet. For example, a craps shooter might wager $10 on the Pass Line, roll a seven and collect a $10 payout, but instead of pocketing the winnings, the shooter will “let it ride.” The bet increases to $20 on the Pass Line for the next throw of the dice, but the risk is still just the original $10. If the shooter is again successful, the payout will be $20 and the profit will be $30, including the $10 from the first roll.
How many times should the bet be allowed to pyramid before profits are taken? That’s a matter of personal preference. In the version of Parlay betting known as “Paroli,” which is used exclusively with even-odds wagers, the limit may be three consecutive wins, but in practice many craps players will press their bets for four wins in a row or even more, while profiting from side bets or by “taking odds.” They reason that the likelihood of success on the next bet is always about 50:50, so the risk-reward ratio warrants shooting for one more big win.
What is the logic behind the Parlay betting system?
The strategy is to multiply winnings exponentially, not unlike accumulating compound interest on an investment. Apart from its simplicity, what makes the Parlay betting system attractive is that wagers remain small when the player is losing and they grow progressively larger when winning, fueled by the House’s own money. For relatively little risk, there is the potential for large payouts. Nor is Parlay betting by any means limited to even money wagers. A roulette player may chose to parlay a win on a single number by betting all or some of the 35 units won on the same number to repeat. Essentially, any type of bet may be parlayed any number of times within the betting limits of the game being played.
Why is the Parlay betting system flawed?
Consecutive wins are required for the Parlay betting system to work and, at some point, all streaks come to an end. For that reason, the success of Parlay wagering depends entirely upon knowing when to end a series of wins and collect the profits. When a craps player gets “on a roll,” the tendency is to over play and “let it ride” one too many times. If profits are not taken, intervening losses can’t be covered. And unless short streaks of wins are rather frequent, the system may not gather sufficient momentum to cover the losses in any event. Additionally, when Parlay bets are made at odds higher than even money, the probability of securing more than two wins in a row falls quite low, so it is advisable not to “let it ride”—at least not all of the winnings; the ratio of risk to reward simply does not warrant such gambling with otherwise guaranteed profits. Again, the most important decision a Parlay bettor can make is to quit while ahead.