The following table illustrates how the chances of winning parlays compares to the payouts received as the number of bets is increased (assume each bet comes at the standard -110 juice and has a 50% chance of winning).Ĭomparing the percentages may not do justice to the difference between the implied and true probabilities at first glance. While the payouts are certainly appealing, they’re not as high as they should be given the true chances of a given parlay winning. Our formula looks like this after converting to decimal odds:Mathematically speaking, it’s usually not a good idea to bet parlays. the Jets, and Eagles -150 at the Washington Football Team. So you bet Packers -300 against the Lions, Patriots -200 vs. 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. Here’s a slightly more complicated example. In American odds, 5.97 is +597, meaning this parlay pays nearly 6-1.Įxample #2: Betting 3 Favorite NFL Teams on The Moneyline Parlay 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.

Subtract your original stake to get the parlay odds.

Multiply the multiplier by your bet amount.

Multiply the decimal odds together to get your multiplier.Convert the American odds to decimal odds using our odds converter.Sportsbooks automatically calculate parlay payouts for you, or you can use our parlay calculator above. It's more difficult to be right 5 times than 1. Sportsbooks give you bigger and bigger payouts for adding more games to a parlay, but the probability of losing increases as well. If even one game loses, the parlay loses. A parlay is treated as one big bet, and every bet or selection within a parlay must-win for the parlay bet to payout. Parlay Calculator, Parlay Betting Odds FAQ & Examples What is a parlay bet?Ī parlay is a wager type in which multiple bets are linked together as one.

What is a parlay bet in sports