Our parlay odds calculator can show you your expected payout from a parlay bet based on the amount wagered and the odds of each leg in any format (American, Fractional, or Decimal).
Simply enter your bet amount and the odds and our parlay calculator will show you your expected profit (“To Win”) and total payout (“To Pay”). Need to add more legs to your parlay? Just hit the “Add new line” button!
You can treat it like a digital bet slip—add as many legs as you want before calculating your payout. Whether it’s a small play or a big bet, the tool does all the work instantly.
Parlay Calculator
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To Pay
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How to Calculate Parlay Odds & Payouts
To calculate your odds and total payout from a parlay, there are a few simple steps you have to follow:
- Convert the odds of each leg to Decimal odds
- Multiply the odds of each leg (in Decimal odds) together. That final number represents your overall odds for the entire parlay.
- Subtract the amount wagered to find just your profit (not including the amount wagered).
To convert odds to Decimal format, you can use the following equations:
- Convert positive American odds (favorite) to Decimal odds: Decimal odds = 1 – (100 / American odds)
- Convert negative American odds (underdog) to Decimal odds: Decimal odds = 1 + (American odds / 100)
- Convert Fractional odds to Decimal odds: Decimal odds = 1 + Fractional Odds
After you multiply the legs together in Decimal format, you can then convert the resulting odds to American or Fractional odds with the following equations:
- Convert Decimal odds under 2.0 to American: American odds = -100 / (Decimal odds – 1)
- Convert Decimal odds over 2.0 to American: American odds = (Decimal odds – 1) * 100
- Convert Decimal odds to Fractional: Fractional odds = Decimal odds – 1
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How Parlay Odds Work
A parlay links all your picks together into one big bet with a bigger payout at higher risk.
When you place a parlay bet, you get much better odds than you would by placing multiple individual bets and simply adding up the winnings, resulting in a significantly higher payout if every leg hits.
This is because a parlay combines several picks into a single wager, and you need to win every leg of the parlay to cash the bet. Even one leg of the parlay bet loses, the entire wager falls apart.
The following table shows the standard payouts on multi leg bets (parlays) in which each leg has -110 odds as well as the true probability and fair odds if there were no “juice” or “vig” charged by the sportsbook:
# Parlay Legs | Implied Probability | Odds | True Probability | Fair Odds |
|---|---|---|---|---|
2 team parlay | 27.44% | +264 | 25% | +300 |
3 team parlay | 14.37% | +596 | 12.50% | +700 |
4 team parlay | 7.53% | +1228 | 6.25% | +1500 |
5 team parlay | 3.94% | +2436 | 3.13% | +3100 |
6 team parlay | 2.07% | +4741 | 1.56% | +6300 |
7 team parlay | 1.08% | +9142 | 0.78% | +12700 |
8 team parlay | 0.57% | +17545 | 0.39% | +25500 |
9 team parlay | 0.30% | +33585 | 0.20% | +51100 |
10 team parlay | 0.16% | +64208 | 0.10% | +102300 |
While you can use the above table to see what your payouts would be, our parlay bet calculator work it out for you automatically. It lets you enter in the odds on each individual leg.
Note that the odds on same game parlays differ based on how related the included selections are to each other. For example, you would receive a lower payout on a parlay that includes Patrick Mahomes to throw for over 2.5 TDs (-110 odds) and the Chiefs to win (-110 odds) than you would by parlaying two teams with -110 odds in different games.
Other Betting Resources
- Betting Odds Calculator: See your expected payout, calculate implied probability, and convert between odds formats based on your original bet amount and odds.
- Odds to Probability Calculator: See the implied probability for a sports bet based on the odds.
- Odds Converter: Convert between the three odds formats including American, Decimal, and Fractional.
- Hedge Calculator: Find the ideal hedge bet amount and guaranteed profit based on your original odds and bet amount.
- Arbitrage Betting Calculator: Calculate how much you should bet on each side of an arbitrage opportunity to maximize your guaranteed profit.
- Closing Line Value Calculator: See your CLV based on the odds you got and the closing odds.
- Free Play Calculator: See how much profit you can guarantee yourself by betting the other side of a free bet.
- Betting Hold Calculator: Calculate how much of a cut a sportsbook is taking on a betting market based on the odds.
- NFL Odds Calculator: See the projected payouts of your NFL bets.
- How to Read Betting Odds: Learn how to read odds, calculate your payout, and calculate the implied probability of your bet winning in each odds format (American, Decimal, Fractional).
- Spread Betting Guide: Learn how betting on point spreads works and learn common strategies for doing so.
- Total (Over/Under) Betting Guide: Learn how betting on totals works and learn common strategies for doing so.
- Moneyline Betting Guide: Learn how moneyline bets work and learn common strategies for placing them.
- Types of Sports Bets: Learn about how each of the main types of sports bets works.
