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Our parlay 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 calculator will show you your expected profit (“To Win”) and payout (“To Pay”). Need to add more legs to your parlay? Just hit the “Add new line” button!
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How to Calculate Odds & Payouts from Parlays
To calculate your odds and 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. This number is your total payout.
- 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
When you place a parlay bet, you get much better odds than you would by simply adding the winnings of each individual bet together.
This is because you need to win each leg of the parlay to win the entire bet.
The following table shows the standard payouts on 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
2 team parlay
3 team parlay
4 team parlay
5 team parlay
6 team parlay
7 team parlay
8 team parlay
9 team parlay
10 team parlay
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 & Arbitrage Calculator: Find the ideal hedge bet amount and guaranteed profit based on your original odds and bet amount.
- Free Play Calculator: See how much profit you can guarantee yourself by betting the other side of a free bet.
- 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.