4 Team Parlay Calculator

A question I am often asked is, “Should I hedge my parlay?” Well, first things first, I am not a fan of parlays unless they are correlated. Generally speaking, it is not a good way to consistently turn a profit. With that said, like so many things in life, parlays can be fun in moderation. I’d be lying if I said that I didn’t indulge in a three or four-teamer from time to time due to the large payouts.

How to Hedge a Parlay Sports Bet & Guarantee Profit

If you’ve you bet on a few parlays, you’ve no doubt been in a similar situation: You bet $10 on a 4-team parlay. At 10-1 odds you stand to make $100 if all four of your games hit, not bad. The games get started and you’re off to a great start. Your first three bets were easy winners, congratulations! The next game starts in about an hour. Just think, you’re one win away from turning a $10 investment into $120. But, “Ah-ha!” you say, “There’s a way for me to guarantee I make money now!” You’ve realized that by hedging your bet you’re going to end up winning no matter what.

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4 Team Parlay Calculator Template

The next game starts in about an hour. Just think, you’re one win away from turning a $10 investment into $120. But, “Ah-ha!” you say, “There’s a way for me to guarantee I make money now!” You’ve realized that by hedging your bet you’re going to end up winning no matter what.

You’ve realized that by hedging your bet you’re going to end up winning no matter what. You see, you stand to make $100 if that final game hits. But in hedging your bet, you lay action on the opposite side of the final game. This way, you are going to profit as long as you bet more than your original $10 investment.

For example, say the Steelers are playing the Ravens in the final game of the night. In your parlay, you have taken the Ravens +3.5. You could just cross your fingers and hope for Baltimore to cover. Or, you could lay $55 (to win $50) on the Steelers to cover the 3.5. Now you’ve given yourself two outcomes, both of which would be a nice return on your $10 investment.

Team #2: Team #3: Team #4: Team #5: Team #6: Team #7: Team #8: Team #9: Team #10: Wager Amount: Payout: $ A parlay calculator is an essential tool for gamblers that determines the payouts of a parlay bet. What is a parlay? This is a bet that is placed on multiple events (two or more) resulting in higher odds. Parlay Payout Example: Let’s take a look at an example with a parlay that includes three bets. You plan on making a $50 wager. The first game you want to include in the parlay is Game 1 with a moneyline odd of -135, the second game is Game 2 with a moneyline odd of +155, and the third game is Game 3 with a moneyline odd of -220. Parlay Calculator Parlay calculator will determine what the payout should be on a sports betting wager. Knowing the odds for the parlay know how much money you will win.-How to use the Parlay Calculator: Enter the price, you do not have to enter the plus sign. ( Enter favorite prices with the minus sign Example (-110) ) Do not enter a factor. The calculator does not need the 4.5 from the prop or the 6 from the totals bet. These numbers are important to your overall wager, but it’s the digits in brackets that are necessary to see how much you’d win. Your payout, if every bet in this parlay hits, would be $723.68 – your original $80 comes back along with your winnings of $643.68.

If the Ravens cover, great, you’ve won your parlay and the $100. So you’re sitting with $120, minus the $55 you wagered on the Steelers, for a winning balance of $45, a solid take.

Now, what happens if the Steelers would have covered the spread? Obviously, you are out your $10 wager, but you did cash in a $50 ticket on Pittsburgh, giving you a $40 profit on the day.

The Big Question: Should I Hedge My Parlays or Let it Ride?

So now you know how to hedge, the question is, should you?

It might seem great at first glance (free money, right?). Problem is, it does not maximize your potential profits. You have to give yourself about a 50% chance of winning that final game of the parlay, right? In the long term, it would be more beneficial to ride the parlay out. This way you don’t lose the edge you’ve gained by increasing your odds (i.e. winning the first three of four).

Answer: Hedging Prevents You From Maximizing Your Long-Term Profits

You select the outcomes (teams) that you want to involve in the bet and then you choose if you want your parlay bets to include anywhere from 2 to 6 teams. If you select 2 then every combination that includes 2 teams will be parlayed, while if you select say 4 teams, then every combination of 4 different teams will be included.

Say you bet ten 4-team parlays at $10 a pop. By a miracle, you win all three early games and have a chance to hedge your final bet in every situation. Let’s use 50% as a base percentage that an average sports bettor wins. What would be the results of hedging versus not hedging?

Hedging your Bet

You’ve profited on every single parlay ticket, but lost your initial investment. A true hedge would net you about $42.50 on each ticket, which comes out to a total gain of $425.

Not Hedging your Bet

You hit 5 of your 10 four-team parlays (50%). You’ve lost $50 on the five losing tickets, but won $500 as a result of the winners, a net gain of $450.

Final Verdict

This may seem counter-intuitive at first, but when you sort it all out, the answer is pretty simple. Don’t hedge your bets on parlays if you want to maximize your profits! The alternative is reducing your risk and guaranteeing a smaller return.

There are rare exceptions to this rule. For example, the Arizona Cardinals make the Super Bowl. You bet $10 on them to win the Super Bowl at the beginning of the season at 200 to 1. It would be a good idea to hedge that wager. But for simple, everyday parlays, to maximize your profits, don’t hedge!

Bet Amount
  • $100
  • $200
  • $500
  • $1000
Odds
If betting a favorite, enter the line with a minus (-) sign at the beginning
Payout
  • Big Game Special
  • Chiefs @ Bucs
  • NJ/PA/IN/TN/CO/WV/MI
  • Boosted from +333
  • Chiefs @ Bucs
  • PA/NJ/CO
  • 2 per week
  • Paid in Free Bet
  • Available in CO
  • Chiefs @ Bucs
  • Super Bowl
  • NJ/IL/IN/IA/CO
  • Boosted From +200
  • Super Bowl LV
  • NJ/PA/CO/IN/WV/TN
  • Boosted From +1100
  • Chiefs @ Bucs
  • IL/NJ/WV/IN/CO/TN/IA
  • Super Bowl Special
  • Plus Signup Bonus
  • PA/IN/IL/CO/MI
  • Free $30
  • NCAA Football
  • NJ/IN/PA

What is a Parlay?

A parlay is a bet that combines two or more picks for a larger payout than normal wagers at U.S. sportsbooks. All picks in a single parlay must cover in order to win the parlay bet. Covering five of six games in a six-team parlay counts the same as losing six of six games. Put simply, a parlay requires perfection.

With more risk comes more reward. Two-team parlays (or two-teamers) typically pay 2.6-to-1 and three-team parlays pay 6-to-1. You can add more picks for larger payouts. The payouts above are based on normal-juiced spreads (-110). However, not all spreads are juiced -110. For example, sometimes you will find a side or total -/+105 or -/+120, making parlay calculations a little more difficult. (Learn how to read lines here.)

Moreover, payouts are different when you parlay moneylines, which are particularly common when it comes to betting on the MLB, NHL, and MMA.

4 Team Parlay Calculator Yahoo

For example, look at this hypothetical $10 MLB parlay:

  • New York Yankees -210
  • Boston Red Sox -165
  • Over 8 -120 (Washington Nationals vs. Atlanta Braves)

Enter the price of each pick above (-210, -165 & -120) into the parlay calculator along with the wager size. If you entered everything correctly the payout should read $33.46. The heavy favorites in the parlay decrease the size of the payout.

Now look at this $10 parlay of NFL underdogs:

  • Philadelphia Eagles +180
  • Indianapolis Colts +250
  • New York Giants +365

Again, enter the parlay prices and the wager amount. This time the payout is $445.7 since the parlay consists of big underdogs.

Keep in mind, most sportsbooks do not allow correlated parlays. So you would not be able to parlay the Eagles moneyline and the Eagles spread together, since the Eagles covering the spread increases the odds of the Eagles winning the moneyline. You can often parlay an over/under bet with a spread or moneyline bet from the same game, but there are occasional restrictions depending on the numbers.

3 Team Parlay Payout

The parlay calculator, along with other sports betting tools for NFL, MLB, NBA & more, will help serious and recreational sports bettors alike save time and money as they navigate legal US sportsbooks.