Usa Today Parlay Calculator
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Reviewed by Calculator Editorial Team
Parlay betting combines multiple bets into a single wager with higher potential payouts. This calculator helps you determine your potential winnings and risks when placing parlay bets.
What is a Parlay Bet?
A parlay bet is a type of sports bet where you combine multiple individual bets into one wager. For the parlay to win, all of your individual bets must win. If any single bet loses, the entire parlay loses.
Parlay bets offer higher potential payouts than single bets, but they also carry higher risk because you're betting on multiple outcomes simultaneously.
Key Features of Parlay Bets
- Combine multiple bets into one wager
- All bets must win for the parlay to win
- Higher potential payouts than single bets
- Increased risk compared to single bets
- Available on most sports betting platforms
How to Calculate Parlay Odds
Calculating parlay odds involves multiplying the decimal odds of each individual bet together. Here's the step-by-step process:
- Convert each American odds bet to decimal format
- Multiply all decimal odds together
- Subtract 1 from the result to get the potential payout multiplier
- Multiply your stake by the payout multiplier to get potential winnings
Parlay Calculation Formula
Potential Payout = (Bet 1 Decimal × Bet 2 Decimal × ... × Bet N Decimal) - 1
Total Payout = Stake × Potential Payout
The potential payout shows how much your stake would grow if all bets win. The actual payout depends on the bookmaker's terms and may be less than calculated due to juice (vig).
Worked Example
Let's calculate a parlay with three bets:
| Bet | American Odds | Decimal Odds |
|---|---|---|
| Team A wins | +200 | 3.00 |
| Team B wins | -150 | 1.67 |
| Player X scores 20+ points | +150 | 2.50 |
Calculation:
Potential Payout = (3.00 × 1.67 × 2.50) - 1 = (8.355) - 1 = 7.355
If you bet $100, your potential payout is $735.50.
Important Notes
- This is the potential payout - actual payout may be less due to juice
- All three bets must win for you to collect the payout
- If any single bet loses, you lose your entire stake
- Bookmaker terms may affect the final payout
FAQ
What is the difference between a parlay and a straight bet?
A straight bet is a single wager on one outcome, while a parlay combines multiple bets into one wager. A parlay wins only if all individual bets win, while a straight bet wins if just that one outcome occurs.
How do I convert American odds to decimal odds?
For positive American odds (e.g., +200): Decimal = (American Odds / 100) + 1. For negative American odds (e.g., -150): Decimal = (100 / |American Odds|) + 1.
What happens if one bet in my parlay loses?
If any single bet in your parlay loses, the entire parlay loses, and you lose your entire stake. This is why parlays carry higher risk than single bets.
Can I parlay bets from different sports?
Yes, you can combine bets from different sports in a parlay. Some bookmakers allow this, while others may have restrictions.