Parlay Calculator

Parlay Calculator, Parlay Betting Odds FAQ & Examples

What is a parlay bet?

A parlay is a wager type in which multiple bets are linked together as one. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. If even one game loses, the parlay loses. 

Sportsbooks give you bigger and bigger payouts for adding more games to a parlay, but the probability of losing increases as well. It's more difficult to be right 5 times than 1.

How do I calculate a parlay payout?

Sportsbooks automatically calculate parlay payouts for you, or you can use our parlay calculator above.

Here’s how the math works step by step:

1. Convert the American odds to decimal odds using our odds converter.
2. Multiply the decimal odds together to get your multiplier.
3. Multiply the multiplier by your bet amount.
4. Subtract your original stake to get the parlay odds.

Example #1:  Parlaying 3 NBA Teams

So if you're parlaying three NBA (Warriors, Lakers, and Miami Heat) teams at - 110 in American odds, your formula looks like this, since - 110 in decimal odds is 1.91.

• 1.91 x 1.91 x 1.91 = 6.97
• 6.97 - 1 = 5.97

In American odds, 5.97 is +597, meaning this parlay pays nearly 6-1.

Example #2: Betting 3  Favorite NFL Teams on The Moneyline Parlay

Here’s a slightly more complicated example.

Let’s say you want to bet three heavy favorites on the moneyline because you’re confident each team will win, but not sure if they’ll cover the spread.

So you bet Packers -300 against the Lions, Patriots -200 vs. the Jets, and Eagles -150 at the Washington Commanders.

Our formula looks like this after converting to decimal odds:

So this parlay on the Packers, Patriots, and Eagles to all win pays +233. Because this parlay is somewhat likely to cash -- 3 favorite teams -- the payout ratio is lower.

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