Parlay Calculator
Use our free parlay calculator to calculate your parlay bet payout instantly. Enter the odds for each leg of your parlay to quickly calculate the payout of your bet.
Free Parlay Calculator
Table of Contents
How to Use the Parlay Calculator
Our parlay calculator is straightforward to use. Follow these simple steps to calculate your parlay bet payout:
Enter Bet Amount
Start by entering the amount you want to wager on your parlay. This is the total amount you're risking across all selections in your parlay.
Enter Odds for Each Bet
Input the American odds for each leg of your parlay. You can enter odds in formats like +120, -140, +200, or -300. The calculator accepts both positive and negative American odds.
Add More Bets
Click the "Add Bet" button to include additional selections in your parlay. You can add as many bets as you need to build your parlay.
View Results
The calculator automatically displays your parlay odds and potential winnings. The "To Win" amount shows your profit if all selections win.
What is a Parlay Bet?
A parlay bet is a wager type in which multiple bets are linked together as one. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. If even one game loses, the parlay loses.
Sportsbooks give you bigger and bigger payouts for adding more games to a parlay bet, but the probability of losing increases as well. It's more difficult to be right 5 times than 1. Calculate the implied probability of your parlay to understand the true likelihood of winning.
Parlays are popular among bettors because they offer the potential for significant payouts from relatively small wagers. However, the increased payout comes with increased risk, as all selections must win for the parlay bet to be successful. Use our betting odds calculator to calculate individual bet payouts before building your parlay. If you need to hedge a winning parlay, check out our hedging calculator.
How to Calculate a Parlay Payout
Sportsbooks automatically calculate parlay payouts for you, or you can use our parlay calculator above. Here's how the math works step by step:
- Convert the American odds to decimal odds using our odds converter.
- Multiply the decimal odds together to get your multiplier.
- Multiply the multiplier by your bet amount.
- Subtract your original stake to get the parlay odds.
The formula for calculating parlay odds is:
Decimal Odds (Bet 1) × Decimal Odds (Bet 2) × Decimal Odds (Bet 3) × ... = Total Multiplier
Total Payout = Bet Amount × Total Multiplier
To Win = Total Payout - Bet Amount
Parlay Calculator Examples
Example #1: Parlaying 3 NBA Teams
If you're parlaying three NBA teams (Warriors, Lakers, and Miami Heat) at -110 in American odds, your formula looks like this, since -110 in decimal odds is 1.91.
- 1.91 × 1.91 × 1.91 = 6.97
- 6.97 - 1 = 5.97
In American odds, 5.97 is +597, meaning this parlay pays nearly 6-1. If you bet $100, you would win $597. Calculate exact payouts using our parlay calculator, and if you need to hedge a winning parlay, use our hedging calculator.
Example #2: Betting 3 Favorite NFL Teams on The Moneyline Parlay
Let's say you want to bet three heavy favorites on the moneyline because you're confident each team will win, but not sure if they'll cover the spread.
You bet Packers -300 against the Lions, Patriots -200 vs. the Jets, and Eagles -150 at the Washington Commanders.
After converting to decimal odds:
- 1.333 × 1.5 × 1.667 = 3.33
- 3.33 - 1 = 2.33
- 2.33 = +233
So this parlay on the Packers, Patriots, and Eagles to all win pays +233. Because this parlay is somewhat likely to cash (3 favorite teams), the payout ratio is lower than the previous example. Use our parlay calculator to calculate payouts for any combination of bets. Convert moneyline odds to spreads if needed.
Parlay vs. True Odds
Understanding the difference between parlay odds offered by sportsbooks and true odds is crucial for making informed betting decisions. The table below shows how parlay odds compare to true odds for different numbers of bets, assuming each individual bet is at -110 (which has an implied probability of 52.38% but a true probability of 50%). Use our fair odds calculator to see what odds should be without the bookmaker's margin, and our implied probability calculator to convert odds to probabilities.
As you can see, the difference between the odds offered by sportsbooks and true odds increases with each additional bet. This is how sportsbooks build their edge (vigorish) into parlay bets. The more legs you add to a parlay, the larger the gap between the offered odds and true odds becomes.
Frequently Asked Questions About Parlay Calculator
A parlay is a wager type in which multiple bets are linked together as one. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. If even one game loses, the parlay loses. Sportsbooks give you bigger and bigger payouts for adding more games to a parlay, but the probability of losing increases as well. Use our parlay calculator to calculate payouts, and if you need to hedge a winning parlay, check our hedging calculator.
To calculate a parlay payout: 1) Convert the American odds to decimal odds using our betting odds calculator, 2) Multiply the decimal odds together to get your multiplier, 3) Multiply the multiplier by your bet amount, 4) Subtract your original stake to get the parlay odds. Our parlay calculator does this automatically when you enter your bet amount and the odds for each selection.
A parlay calculator works by taking the odds for each leg of your parlay, converting them to decimal odds, multiplying them together, and then calculating your potential payout based on your bet amount. Simply enter your bet amount and the odds for each selection, and the calculator will show your potential winnings instantly.
Generally, no. Sportsbooks build their edge (vigorish) into parlay bets, which means the odds they offer are typically worse than true odds. The more legs you add to a parlay, the larger the gap between the offered odds and true odds becomes. This is how sportsbooks ensure profitability over the long term.
Yes, you can combine different types of bets in a parlay, such as moneylines, point spreads, and totals. As long as the bets are from different games or events, you can link them together in a parlay. However, you typically cannot parlay bets from the same game or correlated outcomes.
If even one bet in your parlay loses, the entire parlay loses. This is the key characteristic of parlay bets - all selections must win for the parlay to payout. There are no partial payouts for winning some legs of a parlay.
