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Sportsbooks automatically calculate parlay payouts for you, or you can use our parlay calculator above. It's more difficult to be right 5 times than 1. Sportsbooks give you bigger and bigger payouts for adding more games to a parlay, but the probability of losing increases as well. If even one game loses, the parlay loses. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. Parlay Calculator, Parlay Betting Odds FAQ & Examples What is a parlay bet?Ī parlay is a wager type in which multiple bets are linked together as one.