Advanced Parlay Odds Calculator
How to Calculate Parlay Odds
A parlay is a single sports wager that involves two or more bets combined into one. To win a parlay, every individual "leg" or bet within the parlay must win. If any single leg loses, the entire parlay loses. The appeal of parlays is the significantly higher payout compared to placing individual bets, as the odds multiply with each added leg.
The Math Behind the Parlay
Calculating parlay odds manually requires converting American odds to decimal odds first. Here is the process:
- Positive American Odds (+150): (Odds / 100) + 1 = 2.50
- Negative American Odds (-110): (100 / |Odds|) + 1 = 1.91
Once you have the decimal odds for every leg, you multiply them together to get the Total Multiplier. Finally, multiply your stake by that total multiplier to find your total payout.
Realistic Parlay Example
Suppose you want to bet $50 on a 3-leg parlay with the following American odds:
| Leg | American Odds | Decimal Odds |
|---|---|---|
| Leg 1 (NFL Spread) | -110 | 1.91 |
| Leg 2 (NBA Moneyline) | +150 | 2.50 |
| Leg 3 (NHL Over/Under) | -120 | 1.83 |
Calculation: 1.91 × 2.50 × 1.83 = 8.738.
Total Payout: $50 × 8.738 = $436.90.
Net Profit: $386.90.
Why Use a Parlay Calculator?
While the math is straightforward, doing it manually for 5 or 6 legs is prone to error. Our parlay calculator odds tool handles the conversion from American to Decimal instantly and provides the implied probability, helping you understand the statistical likelihood of your multi-bet ticket hitting.