The parlay calculator allows you to input the odds for each leg of your parlay to quickly calculate the payout of your bet
Ever seen someone hit a huge sports betting winner?
Chances are it was a parlay bet. Even though we recommend that beginners stay away from them, they can be captivating.
A parlay is a single bet that links two or more individual wagers together. You need to win all the wagers in the parlay to win the bet. The more bets you include, the higher the potential payout.
The downside is that the risk also increases with each added bet. They are so attractive due to the fact that you can bet a little to win a lot. Again… we recommend staying away from these.
Calculating potential parlay payouts manually used to be frustrating and time-consuming. But not anymore — our free parlay calculator makes it a breeze to determine the possible winnings for your parlay wager.
The risk in parlay betting is higher, but so is the potential payout. Parlays are an exciting way to bet and can lead to massive winnings from a small stake.
To win a parlay, all your selections must be correct. Even if you pick 4 out of 5 games correctly and one leg fails, the whole parlay results in a loss.
On the other hand, when the stars align in your bet and your parlay hits, the payouts can be huge! A $10 5-team parlay at +5000 odds would pay out $500 if all five teams win, 50 times your bet.
Calculating a parlay payout can be done manually or by using a parlay calculator.
Here's a step-by-step breakdown of the calculation process:
- Convert the American odds for each bet into decimal odds using an odds converter.
- Multiply the decimal odds together to get the multiplier.
- Multiply the multiplier by the amount you want to bet.
- Subtract your original stake from the total payout to determine the parlay odds.
For example, let's consider a parlay with three NBA teams (Warriors, Lakers, and Miami Heat) at odds of -110, which is equivalent to 1.91 in decimal odds.
The calculation would be as follows:
- 1.91 x 1.91 x 1.91 = 6.97
- 6.97 - 1 = 5.97
In American odds, 5.97 translates to approximately +597, indicating that this parlay pays nearly 6-1.
In another example, let's say you want to bet on three heavily favored NFL teams (Packers, Patriots, and Eagles) on the moneyline. The decimal odds for each team are 1.333, 1.5, and 1.667, respectively.
The calculation would be:
- 1.333 x 1.5 x 1.667 = 3.33
- 3.33 - 1 = 2.33
In American odds, 2.33 translates to approximately +233. Since this parlay has a higher likelihood of winning, the payout ratio is lower.
Our free parlay calculator helps determine the odds and payouts for your parlay before placing the bet. Just enter how much you want to risk alongside the odds or point spread for each leg of the parlay, and the calculator will show your potential winnings. This lets you experiment with different combinations to try and maximize your payout.
To calculate your parlay payout, simply enter the odds for each leg of your parlay using our simple calculator.
You can access our free parlay calculator below.
You want to include each game or event, enter the money line, spread, or total odds into the corresponding box.
For example, if you’re betting three NFL games:
- Enter -110 for a standard moneyline bet
- Enter +3.5 -110 for the point spread odds
- Enter over/under 47 -110 for the total
As you input each set of odds, the calculator automatically updates your estimated payout for the parlay based on the specific bet. The more legs you add, the higher the payout!
Once you’ve entered all the odds, review your potential parlay payout. If you like the estimated return, you can place your parlay bet.
But remember, to win the parlay, all legs must be winners. If even one bet loses, the entire parlay loses, so we recommend joining our Discord channel to get mathematically profitable picks (again, we don’t recommend parlays).
Let’s walk through an example to see the parlay calculator in action.
Say you want to place a 3-team parlay bet on the upcoming NFL Sunday slate of games:
- The New England Patriots (-7) vs. the New York Jets
- The Pittsburgh Steelers (-3.5) vs. the Cleveland Browns
- The San Francisco 49ers (-2.5) vs. the Arizona Cardinals
Log in to your sportsbook and add all three spreads to your bet slip. Then select “Parlay” to combine them into a single wager.
Let’s say you want to bet $100 to win $500. The parlay calculator will show your estimated payout based on the odds of each leg of the parlay.
It may look like this:
Patriots -7 (-110)
Steelers -3.5 (-105)
49ers -2.5 (-115)
Parlay Odds: +500
$100 to win $500
So, if all three teams cover the spread, you’ll win $500! The parlay calculator helps estimate your potential winnings to determine if the risk is worth the reward.
Of course, the more teams you add, the higher the parlay odds — but the greater the chance of losing one leg. However, that’s the operating principle of parlays: high risk, high reward!
Try our parlay calculator the next time you want to spice up your sports bets. It can be a handy tool for all sports bettors when used correctly. And if you need a mathematically proven strategy to pick your next game, join our team of professional bettors for profitable picks from highly vetted professional bettors.
Parlays can be an exciting way to bet, but they’re not the most profitable or sustainable long-term strategy. With parlays, all your picks must win to get paid. Even if you pick 90% winners, losing just one wager results in the entire parlay being a loss.
Parlays can be fun for the casual bettor looking to score big. However, for serious sports investors, single bets and properly managing your bankroll are much more prudent approaches.
Parlays can be profitable in the short term due to the potentially big payouts, but the odds will always be in the sportsbook’s favor over the long run unless you have a solid sports betting strategy. There are in fact more advanced strategies behind betting parlays profitably, but for now, we recommend nailing down the fundamentals.
Stick to single bets, money lines, and point spreads for the lowest expected loss in the short term. As you educate yourself more and acquire better tools, your expected loss might just begin turning into an expected profit mathematically, just like our professionals.
Parlays take the winnings from each wager and roll them over into the next pick. So, if you bet $10 on three teams at -110 odds, and all three win, here’s how the payout is calculated:
- Bet 1: $10 to win $9.09 (Total = $19.09)
- Bet 2: $19.09 to win $17.27 (Total = $36.36)
- Bet 3: $36.36 to win $33 (Total payout = $69.36)
Your $10 bet returns $69.36 for a profit of $59.36. The more teams you add, the higher the potential payout, but the risk increases exponentially.