Parlay Odds Calculator
A parlay calculator helps you combine the odds from multiple bets into one price and estimate how much a winning parlay would pay. Enter the odds for each leg and your stake to calculate combined parlay odds, implied probability, projected profit, and total payout. Bettor Ed’s parlay odds calculator supports American, decimal, and fractional odds formats.
How to Calculate Parlay Odds
A parlay combines multiple bets into one. To calculate parlay odds without a calculator, convert each leg into decimal odds, multiply them together, and then use the result to calculate probability, profit, and total return. This calculation assumes it's not a correlated parlay.
Bettor Ed’s parlay calculator does this automatically. Just choose the number of parlay legs, enter odds, enter stake, and you'll instantly see the parlay odds and payouts. Let's work through each step with examples.
1. Convert each leg into decimal odds
Like most betting math, parlay odds are easiest if you're dealing with decimal odds. Since we'll most often deal with American odds in the U.S., here's that conversion:
For positive American odds: (Odds + 100) / 100
For negative American odds: (|Odds| + 100) / |Odds|
If you enter American or fractional odds, the parlay odds calculator converts them for you behind the scenes.
2. Multiply the decimal odds together
Now that the odds are in decimal format, we can multiply them together.
Example:
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Leg 1: -110 = 1.91
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Leg 2: +150 = 2.50
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Leg 3: -200 = 1.50
Parlay odds:
1.91 * 2.50 * 1.50 = 7.16
This parlay is priced at 7.16 decimal odds (+616 American).
3. Calculate total payout
Multiply the parlay odds by your stake.
Example:
$100 * 7.16 = $716 total payout
This includes your original stake.
4. Calculate profit
Subtract your original stake from the total payout.
Example:
$716 - $100 = $616 profit
5. Convert to implied probability
You can also convert the parlay odds into probability. This is an easy calculation where Probability = 1 / Decimal Odds
Using the same example:
1 / 7.16 = 0.1397 = 13.97% implied probability
That means the parlay has an implied win probability of about 13.97%. Note (this is important!) that if you include the vig in your parlay legs, this probability is going to look HIGHER than it actually is. If you want the "fair" parlay probability, you should use your own probability projection or remove the vig from each leg first.
Why use a parlay bet calculator?
A parlay bet calculator helps you avoid doing the math by hand or in your head, which takes time and is more error-prone. You'll instantly see parlay odds, probabilities, and projected payouts.
Overall, it's easier to compare parlay prices, understand risk (and the increased vig that comes with parlay bets), and see what winning tickets would return.
Parlay Odds Calculator FAQ
What is a parlay calculator?
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A parlay calculator is a tool that combines the odds from multiple bets into one price. It also usually shows how much a winning parlay would pay. It takes stake and odds to calculate parlay odds, probability, projected profit, and total payout.
What does this parlay odds calculator do?
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This parlay odds calculator lets you enter the odds for each leg of a parlay and your stake, then instantly calculates the parlay odds, probability, profit, and payout. It supports American, decimal, and fractional odds.
How do you calculate parlay odds?
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Calculating parlay odds is easiest in decimal format. Convert each leg to decimal odds (if they aren't already) and multiply them together to get parlay odds. To calculate total payout, just multiply the parlay odds by your stake. Total payout minus stake gives you your net profit.
How do you calculate parlay payout?
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To calculate parlay payout, multiply decimal odds * stake. For example, if your parlay is priced at 7.16 and you bet $100, your total payout would be $716. Your profit would be $616 after subtracting your original $100 stake.
What's the difference between payout and profit on a parlay?
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Payout is the full amount returned if the parlay wins (original stake + win amount). Profit is the net amount won after subtracting the stake. If a $100 parlay pays $716, the profit is $616. Pay close attention to how the sportsbook labels their "to win" or "payout" section of the bet slip. Sometimes, they'll use the payout to make it look like more winnings at first glance.
Which odds formats does this parlay bet calculator use?
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This parlay bet calculator supports American odds, decimal odds, and fractional odds. You can use the format you're most comfortable with and still see the final parlay odds and payouts in a clear, standardized way.
What happens if one leg loses in a parlay?
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If one leg loses, the entire parlay loses, unless you have some kind of promo activated that allows you to lose a leg. Otherwise, every leg in a standard parlay has to win for the ticket to cash.
What happens if one leg pushes or is canceled?
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Most of the time, a pushed or canceled leg is removed from the parlay and the payout is recalculated based on the remaining legs. Sportsbook rules can vary, especially for same game parlays or special markets, so always check the house rules BEFORE placing a bet so you know what you're getting into. One sportsbook might have more favorable rules than another.
How is a parlay odds calculator different from a fair odds calculator?
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Parlay calculators show you the parlay odds, probability, profit, and payout based on the numbers you enter. A no vig fair odds calculator removes vig from sportsbook odds. Parlay calculators DON'T usually remove vig, so if you want the "fair" parlay odds, then enter the vig-free odds for each leg.
Why should I use a parlay calculator instead of doing it by hand?
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A parlay calculator is faster, more accurate, and easier to use than doing the math manually. It saves time, reduces conversion mistakes, and helps you quickly understand what your parlay is worth before you place the bet.
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