Welcome to our parlay odds calculator page, your go-to tool for maximizing your sports betting potential. Whether you’re a seasoned bettor or just starting out, our intuitive calculator simplifies the complexities of parlay betting. Input your selections, adjust your wager, and instantly compute potential payouts.
Bettors who have never placed a parlay bet are missing out. This type of bet gives you the chance to swing for the fences – hitting those sweet long odds with gigantic returns. Try out our parlay calculator above by simply adding the number of selections you want to combine into a parlay, and submitting the odds for each one, and we will generate your possible returns. You will also want to check out the best sportsbooks for parlay bets before getting your wagers down. Most books, but not all, have parlay insurance to cover your bet in case one leg of your parlay loses.
What is a Parlay Bet?
A parlay is a type of bet where multiple bets are linked together to create one, overall wager. Parlay betting gives the user the freedom to almost customize your own wager. You might want a two-team parlay or even a 12-team parlay depending on your betting strategy. The more teams you have in your entire bet, the more the potential winnings will be. On most sportsbooks, for an entire parlay bet, 2 to 8 teams or totals can be selected.
With parlays now extremely popular, most sportsbooks such as FanDuel and DraftKings offer daily parlay boosts. These boosts enhance the value of the combined odds in your parlay bet even further, which means your potential payout will also be higher. They are aimed at specific markets so make sure you check the terms and conditions before playing.
How Parlay Odds Work
When you pick two bets and combine them into a parlay, the odds on each of your bets are multiplied against each other. Your parlay will therefore have far longer odds than either of your selections, but it comes at a greater risk too. You will need both of your bets to come through to win your parlay bet. This is why your potential parlay payout is higher than a simple single bet.
If you have a calculator, be it on your phone or a physical old-school math calculator, you can count the odds for yourself, but it is quite time-consuming. First off, you will have to convert the American Odds format (with pluses and minuses) into the Decimal Odds format. If you use any of the sportsbooks that we recommend, you can change the settings of your betting account to display Decimal Odds. If not, you can do it manually using the following formula:
| American Odds to Decimal (Negative Sign) | (100 / Negative Odds) + 1 |
| American Odds to Decimal (Positive Sign) | (Positive Odds / 100) + 1 |
Let’s just try a few examples: -180, -110, +130, +250
| American Odds | Calculation | Decimal Odds |
|---|---|---|
| -180 | (100/180) + 1 | 1.555 |
| -110 | (100/110) + 1 | 1.909 |
| +130 | (130/100) + 1 | 2.3 |
| +250 | (250/100) + 1 | 3.5 |
Let’s say you combine those odds into a parlay, you can do this by multiplying all the Decimal Odds.
1.55 x 1.91 x 2.3 x 3.5 = 23.906
Thus, if you stake $10 on this 4-selection parlay, your full potential returns are 239.06. In terms of profit, you are looking at 229.06 (subtracting the staked money from your total returns).
Our parlay calculator shows you how much you can win from your parlay bets, and you don’t have to switch over to Decimal Odds. If you are more familiar with or comfortable reading American Odds, then our parlay calculator is the tool for you. Check out our other free betting calculators to help you really level up your betting.
Parlay Calculator FAQs
How do I calculate a parlay payout?
The easiest and quickest way to calculate a parlay payout is to use our calculator above. You will need to convert the American odds you are used to to the decimal odds format. They you will need to multiply the decimal odds together to get the overall odds for that parlay.
Are parlay calculators accurate?
Yes, parlay calculators such as the one above give you an accurate result when calculating your potential payout. You also have the option to add bet when you have more than a two-team parlay then the bet amount will appear in the box underneath.
What happens if one game in a parlay is canceled?
Most of the time, a canceled game will be removed from the parlay. For example, your bet may go from a four-team parlay to a three-team parlay. The sportsbook will have rules around this scenario and the fair odds you will get in the event of a canceled game.
