Parlay Calculator
for Sports Betting
Our parlay calculator is designed to simplify the process of combining multiple bets into one exciting wager. Whether you’re a seasoned bettor or just getting started, our calculator will help you quickly determine your odds and potential payouts for a variety of parlay types.
Start using the calculator below to optimize your betting strategy and explore the many opportunities parlays can offer. Not sure where to start? Keep reading to learn more about parlays and how they work.
Free Parlay Calculator
To use this calculator, simply select your desired odds format (American, Decimal, or Fractional). Then, input the odds for each leg, adding more legs as necessary. Also input the amount you’d like to spend on the parlay. The calculator will quickly tell you the overall odds for the parlay as well as your potential payout.
Your bets
E.g. 100
To win
$0.00
Payout
$0.00
What is a Parlay?
A parlay wager is a single bet that combines two or more individual bets. To win a parlay, all the bets within it, known as "legs," must win. While parlays are riskier than single bets, they offer significantly higher payouts because of the multiplied odds.
For example:
- If you bet on the New York Yankees to win (+150) and the Dallas Cowboys to cover the spread (-110) in the same parlay, both outcomes need to occur for you to win. If they do, the payout is calculated by multiplying the odds of each leg.
Types of Parlays
Different types of parlays cater to different betting preferences. Here's a quick breakdown:
Moneyline Parlay
Combines bets on which teams will win outright, regardless of the score.
Over/Under Parlay
Combines bets on whether the total score in multiple games will go over or under a specified number.
Spread Parlay
Combines bets on teams to win by a certain margin (or not lose by more than a specified margin).
Same Game Parlay
Combines multiple bets from a single game, such as a team to win, a player to score, and the total points.
Round Robin
A series of smaller parlays derived from a larger selection of bets, offering more chances to win.
Props Parlay
Combines bets on specific player or game outcomes, such as a quarterback's total passing yards or a player's goal count.
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How to Calculate Parlay Odds and Payout
While our parlay calculator does all the hard work for you, it's helpful to understand the math behind the scenes. Here's how you can calculate odds and payouts manually:
Convert American Odds to Decimal Odds
American odds are commonly used in sports betting, but they need to be converted into decimal format to make the calculation easier.
For positive odds (e.g., +150): Divide the odds by 100 and add 1.
Example: If the odds are +150
- 150 / 100 + 1
- 1.5 + 1 = 2.5
For negative odds (e.g., -200): Divide 100 by the absolute value of the odds and add 1.
Example: If the odds are -200
- 100 / 200 + 1
- 0.5 + 1 = 1.5
Multiply the Decimal Odds for Each Leg
Once you have converted the American odds of each leg into decimal odds, multiply them together to find the combined odds for the parlay.
Example:You are placing a parlay bet with the following legs:
- Team A to win (+150): Decimal odds = 2.5
- Team B to cover the spread (-110): Decimal odds = 1.91
- Over 45 points in Game C (-120): Decimal odds = 1.83
Multiply the decimal odds:
- 2.5 X 1.91 X 1.83 = 8.7262.5
The combined decimal odds for this parlay are 8.73.
Calculate the Payout
To calculate the total payout, multiply the combined decimal odds by your wager amount.
Example: If your combined decimal odds are 8.73 and you bet $50:
- 50 X 8.73 = 436.550
our total payout would be $436.50.
Calculate the Profit
To find the profit, subtract your original wager from the total payout.
Example: Using the above scenario, if your total payout is $436.50 and your original bet was $50:
- 436.50 − 50 = 386.50
Your profit is $386.50.
Our calculator automates this process, allowing you to focus on building your winning parlay! To learn more about the rules for parlays, check out our Parlay Rules page.
Where to Find Parlay Picks
Parlay Calulaor is great resourse for picks and parlays opportunities, and that is something that will only get even better the more you access our expert handicappers. Every day they bring you the best picks on the moneyline (ML), point spreads & the over/under totals.
Why Parlay Betting is So Popular?
Parlay bets are certainly very popular amongst sports bettors due to the combined odds they provide and potential to win big compared to individual straight bets. It's important to note that parlay betting can be risky, as all bets in the parlay must win in order for the bet to be successful. If any of the bets in the parlay lose, the entire bet is lost.
Looking for expert picks to enhance your betting strategy? Our site offers curated parlay picks for all the major leagues, including the NFL, NHL, NBA, and MLB. Whether you're building a moneyline parlay for Sunday football or a props parlay for tonight's basketball game, we've got you covered. Stay ahead of the game with our regularly updated picks from seasoned analysts.
Common Parlay Questions
What happens if one leg of my parlay pushes?
A “push” occurs when a bet ties, such as a team winning by exactly the spread. In most cases, the parlay is adjusted by removing that leg, and the odds are recalculated based on the remaining bets.
Can I cash out a parlay early?
Some sportsbooks allow early cash-outs, enabling you to secure a partial profit or minimize losses before all legs of your parlay are complete. Check your sportsbook’s policies for cash-out options.
Are parlays worth the risk?
Parlays are riskier than single bets due to the “all-or-nothing” nature. However, they offer a chance for significantly higher payouts, making them an attractive option for bettors looking to turn small stakes into big wins.
What is the maximum number of legs I can include in a parlay?
The number of legs allowed varies by sportsbook. Some allow up to 12 or more, while others may cap it at fewer legs. Be sure to check the rules of your sportsbook.