Parlay Odds Calculator for Sports Betting
Are you a parlayer (not sure that’s a word)? We’re talking about parlay bets in case that wasn’t clear. If you are, you want to know how much a parlay really pays. That all depends on the odds, and the math isn’t easy or obvious.
A parlay bet is one that combines multiple picks into one wager. In order to win? Every leg has to hit. If one fails, the entire ticket loses. It’s an all-or-nothing setup that means there’s a higher risk, but the payout can be massive if everything lands.
The hard part? Calculating your potential return. There are so many numbers and odds formats! That’s why we made this tool.
Our free Parlay Calculator shows you the total payout and net profit immediately. You can add as many legs as you want, input your wager, and toggle between American, decimal, and fractional odds. You don’t have to do any manual conversions. And no more estimating.
Parlay Calculator
You can use our parlay calculator to test out different bet combos and see exactly what your parlay is worth!
Tool Features
- Choose American, Decimal, or Fractional odds from the dropdown menu
- Add or remove as many legs as you need
- Enter your total wager
Once everything is entered, all you do is hit “Calculate” to get your numbers!
Your results include the following:
- Total Decimal Odds
- Potential Payout
- Net Profit
How the Parlay Calculator Works
Parlays are a group of bets that are all connected. And each leg that you add changes the math.
The odds don’t add, they multiply, so your total payout grows with every pick. But even the smallest changes in the numbers can throw off your final return, particularly if you’re combining formats.
Our calculator handles all of this for you! It converts odds, runs the math, and totals your payout and profit automatically. This way, you’re not guessing how +350, -150, and +210 work together. You get to see exactly what the bet is worth before you commit to it.
What Is a Parlay Bet?
Let’s tackle the basics first! What’s a parlay bet? It’s one wager that ties together two or more picks. You only win if every selection wins. It doesn’t matter how close the last leg is; if one fails, the payout is gone.
Why do bettors use parlays? Because the rewards are insane. Instead of only winning a return on each individual pick, the odds are multiplied together, and that makes the payout on a successful parlay far greater than the sum of its parts.
Why Use a Parlay Calculator?
Doing the odds manually is an ordeal. Why? Parlay odds don’t stack in a straight line. You have to convert each leg to decimal format, multiply those decimals together, and then multiply that product by your stake. If you’re working with American or fractional odds, that means even more complicated math.
Our Parlay Calculator automates this whole process. It handles conversions in the background, tracks the math as you add or remove legs, and delivers your total payout and profit in seconds.
It also prevents the most common mistakes, like misreading negative lines or miscalculating decimal values, and that happens when you’re building longer tickets!
How to Use the Parlay Calculator
It’s really easy to use! Below is a step-by-step guide on how to use our free parlay calculator:
- Choose your odds format
Use the dropdown to select American, Decimal, or Fractional. - Enter the odds for each leg
Input the line for every pick in your parlay. You can add or remove legs as needed. - Enter your wager amount (this is your total bet, not a per-leg amount. The calculator uses this number for all math.
- Click “Calculate.”
Once everything’s been inputted, you get your combined odds, projected payout, and net profit!
Understanding the Calculation
How does the calculator actually calculate? Here’s how it works:
1. Convert Odds to Decimal Format
+150 becomes 2.50
-200 becomes 1.50
-133 becomes 1.75
2. Multiply Decimal Odds Together
2.50 × 1.50 × 1.75 = 6.56
3. Multiply Total by Wager Amount
$100 × 6.56 = $656 payout
4. Subtract the Wager Amount from the Profit
$656 – $100 = $556 net profit
Example Parlay Calculation
How does it work when we input a parlay? Look below for an example!
Inputs
- Leg 1: +350
- Leg 2: -150
- Leg 3: +210
- Wager: $300
Results
- Total Decimal Odds: 23.25
- Potential Payout: $6,975.00
- Net Profit: $6,675.00
This means that if all three bets hit, your $300 parlay would return close to seven grand, and that includes your stake.
Our parlay calculator handles all three formats and updates your total payout every time you adjust a leg. You don’t need to track decimal conversions or guess how odds stack together; it’s all done automatically!
Parlay Betting Strategy Tips
Before you start to build longer tickets, there are a few basics you need to know! Here are some parlay betting strategy tips:
- Start Out Small: Begin with 2 or 3 legs. The odds will still multiply, but the bet is much more manageable.
- Balance Your Risk: Add some of your favorites to offset the riskier picks. A heavy underdog can up the payout, but you shouldn’t overload every single leg with a lot of volatility.
- Know When to Hedge: If your parlay is one leg away from hitting, and the final event hasn’t started yet? Think about hedging with a single bet on the opposite side. It could decrease your overall win, but it can also lock in a guaranteed return.
FAQs
Math is hard. But using our parlay calculator means you don’t have to do it—yay! We get a lot of questions about how our betting tools work, so we put together a collection of the ones asked the most by our readers.
What Is a Parlay Bet?
It’s a multi-leg bet where all picks have to win to be paid. If one loses? The whole bet is kaput.
How Are Parlay Odds Calculated?
Each leg’s odds are converted to decimal, and then they’re multiplied together to form one single line.
Can I Use Decimal or Fractional Odds?
You can use both! Just use the dropdown at the top of the calculator to switch formats.
What Happens if One Leg Loses?
The entire parlay loses (womp womp). There are no partial payouts unless the sportsbook you use has special rules like “parlay insurance.”
Are Parlay Bets Worth It?
It all depends on your risk tolerance. Parlays do offer the highest potential returns, but the probability of hitting all legs decreases with each added pick.
Related Tools
The parlay calculator isn’t the only free betting tool we offer! We also have these valuable ones that you can experiment with when you’re wagering:
All of them will help you double-check your bets and see their value. No more math or wondering what the numbers will be. Just remember that wins are never a sure thing, no matter what tool you use, so be smart and gamble responsibly!