How to calculate the odds of a parlay bet

Multi bets make it easy for you to enjoy betting in a different way. Instead of betting all your money on a single sporting event, you can combine several selections on a single ticket to increase your odds of winning.

That's all great, but you have to be careful. You already know that you have to bet with your head, but also the combined bets have their own special characteristics and, if you have never tried them, you should take a look at what we are going to tell you in this article so you don't mess up.

Take a look to this!

Tips to calculate the odds of multi bets

More than tricks, what we are going to give you so that you can place your accumulator bets properly is a series of guidelines so that you don't get lost with the calculations. More than anything, because if you are new in this combined betting thing, you should be focused and not fail, so follow these steps, and always keep in mind that you should bet judiciously and that you will never have a guarantee as far as profits are concerned. With that, let's move on.

  • Calculate the individual odds. Before you pack your bags, research everything to do with the event you're interested in. Get an idea of the performance and statistics of the participants, and all the factors that may have something to do with it.
  • Use a combination betting calculator. What these tools do is to enter the odds of your selections. What for? To know the total odds and potential winnings instantly.
  • Consider value bets. Value bets allow you to improve the profitability of your picks. Although value bets are the way to go when you want to increase your chances of winning, you shouldn't marginalize them.
  • Don't go crazy with picks. OK, yes, you can make several selections and try to win more, OK. But don't overdo it, because the more selections, the more risk, and for a combination to be considered a winner, all selections must be correct. Miss one and to the hole.
  • Manage your bankroll, you know. We don't even have to tell you this. Proper management of your bankroll is EVERYTHING. That, and a little bit of courage in your bets, because some people get overconfident with the combined bets and end up out before they realize it.
  • Divide and conquer. Be a little smart and don't bet only on one sport or type of event. Combine more types of sports and matches to try (try, we insist) to reduce the risk.
  • Think about long-term strategies. If you intend to make parlay betting a profitable technique in the long term, your strategies must be in the same direction, looking to the future. Otherwise, what's the point?

Start by obtaining odds for the matches you are going to bet on. Then, be careful because the bookies usually show the odds in different formats. Fractions, dineroline... It is important that you know in which format they are showing them.

To try to calculate the absolute odds of your combined bet what you are interested in is to work with decimals. And you can do it in a very simple way: dividing 1 by the given odds. In the case of a match with odds of 2.20 for the team you want to bet on, simply divide 1 / 2.20 = 0.45.

Then, when you have the odds in decimal, calculate the odds for each team. Again divide 1 by the odds of each team to get the result.

To calculate the probability that all are winners, multiply each team's odds. Here you will have to handle the decimal results of each team of your winning selection, and it will be easier to get the value with the decimals. If, for example, the odds are 0.50 - 0.70 - 0.45, you will have to multiply these values. The result in this case would be 0.1575.

Next, calculate the total odds by dividing 1 by the total probability (0.1575, which we have just calculated), and then get the result of your POTENTIAL winnings (potential, because it is spoken in conditional and it is only a hypothetical data). Do this by multiplying your original bet by the total odds.

If it turns out that our total odds are 5.75, we would multiply this value by 100, i.e., 575 € would be our maximum potential reward.

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