How to Calculate Money Line Parlay Payouts

What is a Money Line Parlay?

A money line parlay, also known as a straight bet or accumulator bet, is a type of sports bet where you combine multiple individual bets into a single wager. For the bet to win, all of the individual selections must win.

Money line parlays are popular because they offer higher potential payouts compared to single bets, but they also come with higher risk since all selections must win for you to collect.

How to Calculate Money Line Parlay Payouts

Calculating the payout for a money line parlay involves converting the money line odds to decimal form and then multiplying them together. Here's a step-by-step guide:

1. Identify the money line odds for each bet in your parlay.
2. Convert each money line odd to decimal form:
   • If the money line is positive (e.g., +200), add 100 to the number and divide by 100 (e.g., +200 becomes 3.00).
   • If the money line is negative (e.g., -150), divide 100 by the absolute value of the number and add 1 (e.g., -150 becomes 1.6667).
3. Multiply the decimal odds of all the bets together to get the total payout multiplier.
4. Multiply your original bet amount by the total payout multiplier to get your potential winnings.

For example, if you bet $10 on three games with odds of +200, +300, and +400:

• +200 becomes 3.00
• +300 becomes 4.00
• +400 becomes 5.00

The total payout multiplier is 3 × 4 × 5 = 60. Your potential winnings would be $10 × 60 = $600.

Example Calculation

Let's walk through a complete example to illustrate how to calculate money line parlay payouts.

Scenario

You want to place a parlay bet on three basketball games with the following money line odds:

• Game 1: +150
• Game 2: -200
• Game 3: +350

You decide to bet $20 on this parlay.

Step 1: Convert Money Line Odds to Decimal

• +150 becomes 2.50 (100 + 150 = 250; 250 ÷ 100 = 2.50)
• -200 becomes 1.50 (100 ÷ 200 = 0.5; 0.5 + 1 = 1.50)
• +350 becomes 4.50 (100 + 350 = 450; 450 ÷ 100 = 4.50)

Step 2: Calculate Total Payout Multiplier

Multiply the decimal odds together: 2.50 × 1.50 × 4.50 = 16.875

Step 3: Determine Potential Winnings

Multiply your bet amount by the payout multiplier: $20 × 16.875 = $337.50

Common Mistakes to Avoid

When calculating money line parlay payouts, there are several common mistakes to watch out for:

1. Incorrect Odds Conversion: Forgetting to convert money line odds to decimal form before multiplying them. Always convert each odd to decimal first.
2. Miscounting Bets: Accidentally including or excluding a bet in your calculation. Double-check that you've accounted for all the bets in your parlay.
3. Rounding Errors: Rounding the decimal odds too early in the calculation. Keep intermediate results precise until the final multiplication.
4. Ignoring Bet Amount: Forgetting to multiply the total payout multiplier by your original bet amount. The payout multiplier alone doesn't tell you your winnings.