Parlay betting – also known as parley or an accumulator, depending on where you call home – is one of the most popular options in sports betting. Our parlay calculator is the quick and simple way to measure your potential winnings from your parlay picks, from two-teamers all the way to those ambitious 15-team parlays.
Parlay betting explained
Instead of wagering a set bet amount on a single game, event or prop, parlay betting offers you the option to tie together two or more of these picks and risk a set bet amount in hopes of a larger payout. The more picks you add to your parlay, the larger the potential payout grows. Learn more about parlay betting with our parlay betting guide.
How parlay odds are calculated
Calculating parlay odds is simple when using decimal odds: Simply multiply the odds from each leg together to get the parlay odds. But it gets a little trickier if you’re using American odds.
American odds cannot simply be multiplied together — each leg needs to first be converted to decimal odds. The easiest way to do this is with our odds converter but if you want to do it by hand, here’s how it works:
Converting American odds to decimal odds
To convert American odds to decimal odds, you take the total payout of the wager and divide it by the amount wagered.
For American odds with a negative value:
Using odds of -130, you would need to risk $130 to win $100 so the total payout would be $230.
So to get the decimal odds you would calculate 230/130 = 1.77
For American odds with a positive value:
Using odds of +150, you would wager $100 to win $150 so the total payout would be $250.
To get the decimals odds you would calculate: 250/100 = 2.50
Fixed odds parlays
It’s important to note that the calculator above doesn’t reflect parlay odds in all sportsbooks. Some retail sportsbooks, such as those located at Las Vegas casinos, have fixed odds for parlays when betting point spreads or Over/Under totals and assume the standard -110 odds.
Here’s an example of how fixed odds look at Circa Sportsbook in Las Vegas, though the payouts could differ from sportsbook to sportsbook:
|Number of teams||Fixed odds payout|
|3||5.5 to 1|
|4||11 to 1|
|5||22 to 1|
|6||44 to 1|
|7||88 to 1|
|8||175 to 1|
|9||350 to 1|
|10||700 to 1|
|11||1300 to 1|
|12||2500 to 1|
If one of the legs of your parlay is a push (a tie) or the game, the odds for that leg are calculated at 1.00.
If one game of the parlay gets canceled, delayed, etc. the odds for that game are calculated at 1.00.
If you lose one game in a parlay, the entire parlay is a lost wager.
Pretty much all bets can be tied together into a parlay. Most sportsbooks won’t allow correlated parlays, however (i.e. parlaying together the Over for the game with the Over for a team’s total).