Professional sports gambler and Wise Kracks host Bill Krackomberger isn’t a fan of parlay wagering.

Opinion is divided among sports bettors on whether or not parlays are a smart bet. Parlays can also be made up of different types of bets such as prop bets and futures bets. You can even create parlays with bets from multiple different sports. Sportsbooks allow you to bet parlays on just about any sport. For example, a 5 team parlay will pay out considerably more than a 2 team parlay (assuming equal odds). The more single bets you include in your parlay, the more the winnings you will get from the sportsbook. As a result, the payout is much bigger than if you had placed each bet individually.

In order to win a parlay bet, all of the outcomes in the bet need to be correct. The potential payout for the parlay bet would be ($100 stake x 30.87) = $3,087.00.A parlay bet, sometimes referred to as an accumulator or combo bet, is a wager that combines multiple single bets to create one larger bet. * 1 must be added to each fraction conversion to get the payout result, otherwise the conversion simply shows the profit amount. Just like for American odds, to calculate parlay odds in American odds, the odds must first be converted into decimal odds. Game 2: Golden State Warriors (10/11) vs. The potential payout for the parlay bet would be ($100 stake x 30.87) = $3,087.00.

Therefore, the combined odds for the parlay bet would be (2.2 x (210/110) x 2.45 x 3) = 30.87. Note that many American odds converted to decimal odds are repeating decimals, so we've listed the step before the final result in the conversion to ensure the final payout is accurate. To calculate parlay odds in American odds, the odds must first be converted into decimal odds.

Sports bet parlay calculator