Parlay Money Calculator
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Reviewed by Calculator Editorial Team
Use our parlay money calculator to estimate potential winnings from sports betting parlays. This tool helps you calculate odds, payouts, and expected returns based on your bet amount and the odds offered by the bookmaker.
How to Use This Calculator
To use the parlay money calculator:
- Enter the amount of money you plan to wager on each bet in the parlay.
- Input the odds for each bet in the parlay (e.g., +200, -150).
- Click the "Calculate" button to see your potential winnings.
- Review the results and adjust your bets as needed.
The calculator will show you the total potential payout if all bets in the parlay win, as well as the expected value of your parlay based on the given odds.
Formula Explained
The calculator uses the following formula to calculate potential winnings from a parlay:
For multiple bets in a parlay, the potential payout is calculated by multiplying the bet amount by each set of odds in sequence. For example, a parlay with two bets of $10 each with odds of +200 and +300 would have a potential payout of:
The expected value (EV) of a parlay is calculated by:
Note that the probability of winning a parlay is the product of the probabilities of each individual bet winning.
Worked Examples
Example 1: Simple 2-Bet Parlay
Bet $10 on each of two games with odds of +200 and +300.
Potential payout: ($10 × 2) × ($10 × 3) = $60
If both bets win, you receive $60 in total.
Example 2: 3-Bet Parlay with Different Odds
Bet $5 on three games with odds of +150, -120, and +250.
Potential payout: ($5 × 1.5) × ($5 × 1.25) × ($5 × 2.5) = $28.125
If all three bets win, you receive $28.125 in total.
Remember that parlays have higher risk than single bets. Only place parlays you're confident about to avoid losing your entire bankroll.
Frequently Asked Questions
What is a parlay in sports betting?
A parlay is a type of sports bet where you combine multiple individual bets into a single wager. For the parlay to win, all of the individual bets must win. If any one bet loses, the entire parlay is lost.
How do I calculate the odds for a parlay?
To calculate the odds for a parlay, multiply the decimal odds of each individual bet together. For example, if you have two bets with odds of +200 (3.00) and +300 (4.00), the parlay odds would be 3.00 × 4.00 = 12.00, or +1100.
What is the expected value of a parlay?
The expected value (EV) of a parlay is the average amount you can expect to win or lose per bet over time. It's calculated by multiplying the probability of winning by the potential payout and subtracting the probability of losing multiplied by the bet amount.
Is it better to bet single games or parlays?
Parlays offer higher potential payouts but come with significantly higher risk. Single bets are generally safer and have lower risk, but they also offer smaller payouts. The best strategy depends on your risk tolerance and betting goals.