Sports Betting Calculator Parlay

Posted : admin On 7/23/2022

How does the arbitrage calculator work?

Parlay Calculator Our parlay calculator allows you to quickly calculate the payout of your parlay bet. Simply enter your total bet amount then fill in the moneyline odds for each leg and the total payout will update automatically. How to Use the Parlay Calculator. A parlay bet is a single wager that requires two or more outcomes to all win. The parlay calculator allows you to input your stake & odds in American formats to quickly calculate the payout for.

Our arbitrage calculator allows you to enter the odds of two (or more) different bets to determine how much you should stake on each to guarantee a profit.

Use the Arbitrage Calculator here

Enter Odds & Stake
Stake
Stake Bet 1
Stake Bet 2
$0.00
Payout
Payout Bet 1
Payout Bet 2
$0.00

What is an arbitrage bet?

An arbitrage (or arb for short) also known as 'surebets', 'surewins' and 'miraclebets' are bet types whereby a bettor wagers on a series of events that guarantees a profit no matter the outcome of a given event, or at worst, guarantees that no money can be lost but money can still be won depending on the result of an event.

Arbitrage bets work by taking advantage of discrepancy in prices of the same event with different Sportsbooks in a way that can ensure the bettor can't lose money no matter the outcome of the event.

What is a sports arbitrage betting example?

Arbitrage opportunities can pop-up in betting markets for a variety of reasons, most commonly being a disagreement in Sportsbook opinions on a certain event.

Sportsbook

For example, say an NBA game was being played between the Houston Rockets and the Cleveland Cavaliers. 'Sportsbook A' may open up their market at:

Houston Rockets $1.50 (e.g -200)

Cleveland Cavaliers $2.50 (e.g +150)

And 'Sportsbook B' may open up their market at:

Sports Betting Calculator Parlay Odds

Houston Rockets $1.80 (e.g -125)

Football Parlay Calculator

Cleveland Cavaliers $2.20 (e.g +120)

You can see here, that there a discrepancy in the odds, or a disagreement between the sportsbooks over the winning chances of each team. In this scenario, the bettor could place $55.55 on the Houston Rockets with Sportsbook B, to receive a payout of $100 if Houston win and the bettor can place $40.00 on the Cleveland Cavaliers with Sportsbook A, to also receive a payout of $100 if Cleveland win.

Don's Parlay Calculator

In this scenario, no matter who wins the game, the bettor has outlaid $95.55, but will receive back $100 no matter what the outcome. This a sports betting arbitrage, an opportunity to guarantee yourself a profit no matter the result (e.g + to your bankroll!)

What are the risks associated with arbitrage betting?

Calculating Parlay Odds

Arbitrage betting can be very profitable as long as you demonstrate patience and capitalise on the many opportunities that arise every day. Where you can lose big amounts with online Sportsbooks is if you outlay large sums on a bet that potentially could be a sportsbook error. That is, imagine there is a bet that is $51 when it should be $1.01 and all other Sportsbooks have it as $1.01. You may then feel the urge to place an arbitrage on the $51 and their opponent at big odds as well on another Sportbook, and outlay large amounts assuming you are in for a massive payday. That is until the Sportsbook cancels the market that had an error (Sportsbooks may be able to do this even after the event has started, read their terms and conditions). You are then stuck in a situation where you have a large amount of money on a huge underdog. Stick to non-error arbitrage opportunties where there is generally a 1-5% guaranteed return. You can however place single bets on the sportsbook errors, because if they get cancelled, you get your money back.