Parlay Calculator

A parlay is a single bet that links together two or more individual wagers for a high payout. In order for the parlay bet to win, every one of the wagers must win.

So why make a parlay bet if it's a more difficult bet? Because the payouts are higher. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so on with the payouts getting higher with more teams.

The Parlay Calculator is a handy tool to calculate the payoff of parlay bets.

What are the valid prices allowed on the Parlay Calculator Price Fields?

You can type in prices from -99999 to +99999. You must include the + or - sign according the price.

Parlay Betting (2 to 8 teams)

A parlay is a bet in which you select 2 to 8 teams or totals. All selections must win or tie in order to win the wager. If any of the selections lose, your wager loses, regardless of the outcome or cancellation of the other games. If one or more selections is 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 ties, the wager becomes a straight bet.

The resulting wager will have the same risk amount with the win being calculated to reflect the odds of the remaining team (Example: On a two team $100 parlay with team A +110 and team B -110 if A ties and B wins the resulting wager will be a straight play on B risking $100 to win $91).

Teaser Calculator

Teaser bets are popular sports bets (particularly in football and basketball) because it allows you to adjust the point spread in your favor. Teasers are used in parlay bets (bets linking together two or more wagers) and whatever teaser amount you choose will apply to all wagers within your bet.

Teasers allow you to have an advantageous point spread while selecting 2 to 8 teams (or more depending on the sportsbook). You may tease a side or a total of a football game and also cross sports by teasing football games with basketball games.

Any selection that loses makes the whole Teaser a loss.

Use out Teaser Calculator to determine the outcome of any particular teaser combination. Our Teaser Calculator allows you to select up to 14 teams in a teaser bet.

Why are teaser payouts so much lower?

Simple, it is the only bet type where balanced action can still result in losses for the book. How can that be? Here is where last weekend's football game between Jacksonville and Minnesota comes into play. The spread was Minnesota -6 and the total was 46. Using 7-point teasers and only this one game, there were four plays that could have been made:

• Jacksonville +13 and Over 39
• Jacksonville +13 and Under 53
• Minnesota +1 and Over 39
• Minnesota +1 and Under 53

The final score was Jacksonville 27-16 and so every one of these teasers was a winner because the final score was within 7-points of both the posted pointspread and total. If there was $130 to win $100 on each of these plays, the house just lost $400 on $520 in handle for a 77% loss.

However, don't feel too bad for books (and I am sure you don't) because even though it is possible to have every teaser be a winner on balanced action, it is also possible for the house to earn over 50% from the same position. Look at the St. Louis/Green Bay game as an example of this. The spread was Green Bay -7 and the total was 51. Here are the four possible 2-team teaser combinations (again teasing 7 points):

• St. Louis +14 and Over 44
• St. Louis +14 and Under 58
• Green Bay Pick and Over 44
• Green Bay Pick and Under 58

The final score in that game was Green Bay 45-17, so the only win was the Green Bay/Over teaser. If there was $130 to win $100 on each play, the house collected $390 but paid out $100 for a profit of $290 on $520 in handle (a 55.8% gain). Any game where both the spread and total fall outside teaser range will be good for the books, or as in this case, at least get us to even when we don't get the side or total we need.

The third possibility is where either the spread or total "pays both ways" but the other line does not. This case was more typical of what happened several times last weekend. For example, let's look at the Washington/Pittsburgh game. The spread was Pittsburgh -10 and the total was 35. Here are the four possible 2-team teaser combinations, typical of any given Sunday:

• Washington +17.5 and Over 28
• Washington +17.5 and Under 42
• Pittsburgh -3.5 and Over 28
• Pittsburgh -3.5 and Under 42

The final score was Pittsburgh 16-7, so both plays with the under were winners. In theory, the house makes $60 on the $520 in handle for a decent profit if the action was balanced. However, spreads get more teaser action than totals, so we didn't do as well as the theory would indicate on this game.

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