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When it comes to gambling on sporting events, there are many different types of bet you can place. A quite common one is the parlay. This is a bet that consists of two or more individual wagers. For a parlay to win, each of the individual wagers that make up the parlay has to win. If anyone of them doesn’t win, you won’t win the bet. Generally speaking the more wagers there are that make up the parlay, the lower the odds of winning are, and the higher the payout is. The main reason why these bets are so popular is that the parlay payouts can be quite large indeed.

A parlay bet that covers two wagers is often known as a double. Likewise, one that covers three wagers is often referred to as a treble. Due to their lower odds and higher payouts, these bets are great for players who have more cash to spend and enjoy taking a risk. Budget players can still get in on the parlay action by placing bets covering a smaller number of wagers.

It’s important to point out that you can still win a parlay even if not every individual wager results in a win. If one of them is a tie or is postponed, rescheduled or even cancelled, you can still receive a payout so long as all others win. You won't win the full amount, however. If you place a four-team parlay, and three out of four wins with one tie, your bet will pay out as a three-team parlay instead.

Odds for sporting events can get quite complex, especially for those new to sports betting. Combining different odds for different events can get even more confusing. That’s why many people use a parlay odds calculator. This is simply a sort of betting odds calculator that takes the odds of different wagers and puts them together to determine the overall odds and the total amount of money you stand to win based on your bet.

When it comes to using a parlay calculator, you’ll find that there are lots of different ones available to use online. Most of them are set up in different ways, but they all basically just need you to input the odds and payouts of all the wagers that make up the bet. If you’re thinking of placing a parlay bet, it’s always a good idea to use a calculator to see exactly what the payout is.