Parlay Calculator on Odds Coach00:00

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Published on August 11, 2016

  This parlay calculator will help you determine the expected payout for a given moneyline parlay bet. Parlay bets are a single bet that link together two or more individual wagers and are dependent on all of those bets winning. Parlays have higher payoffs than placing each individual wagers since the difficulty of winning it is much higher. If any of the bets in the parlay lose, the entire parlay loses. Any plays in that “pushes” or ties, then the parlay eliminates that bet from the parlay and is recalculated based on fewer bets in the parlay. To understand how to use the parlay calculator and how parlays are calculated, the video and article below should answer that. To use the parlay calculator, simply enter the bet amount and the American Odd for each game in the parlay and your bet amount. If you are not using American odds, enter your decimal odds or fractional odds into this odds calculator.

Parlay Calculator
Bet Amount $
Team #1 Moneyline    
Team #2 Moneyline    
Team #3 Moneyline    
Team #4 Moneyline    
Team #5 Moneyline    
Team #6 Moneyline    
Team #7 Moneyline    
Team #8 Moneyline    
Parlay Odds   
Implied Probability %
Parlay Payout
     

How the Parlay Calculator Works

The math calculating a parlay gets more difficult with each new bet, but if you understand how moneyline calculations work, it becomes just a matter of a couple of extra steps. Lets take a set example.

Bet 1: -110

Bet 2: -150

Bet 3: +100

To calculate the payout we need to evaluate each set of odds into a decimal odd, multiply the result and subtract a factor of 1. Remember from the moneyline calculator article, that negative odds and positive odds need to be evaluated differently. Here is what that looks like:

Bet 1: (-1*-110+100)/-1*-110 = 1.909

Bet 2: (-1*-150+100)/-1*-150 = 1.666

Bet 3 (100+100)/100  = 2

Next we multiply the three results and subtract 1 from the total and multiply by the Bet Amount:

(Bet 1 * Bet 2 * Bet 3 -1) * Bet Amount = Parlay Payout

Which looks like:

(1.909 * 1.666 * 2 -1) * $100 = $536.08

Not a bad result, but don’t be fooled: the multiplication here is also consistently multiplying the risk. The implied probability of the above occurring is 13.59%. Those odds would look like a +536  longshot bet. Now lets look at the event where the Bet 2 is a push:

Bet 1: (-1*-110+100)/-1*-110 = 1.909

Bet 2: (-1*-150+100)/-1*-150 = 1.666

Bet 3 (100+100)/100  = 2

(1.909 * 2 -1) * $100 = $281.80

In the above case, the push is removed entirely from the outcome and the odds adjust accordingly. Below is a basic parlay chart for -110 odds for each bet:

Parlay Chart for -110 Odds
Odds $100 Bet
Bet 1: -110       $90.91
Bet 2: -110     $264.46
Bet 3: -110     $595.79
Bet 4: -110   $1,228.33
Bet 5: -110   $2,435.91
Bet 6: -110   $4,741.27
Bet 7: -110   $9,142.43
Bet 8: -110 $17,544.64
Profit using the parlay calculator on a $100 bet at -110 odds.

This graph shows the profit as the number of bets in a parlay increase, based on a total $100 bet.

Summary
Parlay Calculator - Accumulator Calculator on Odds Coach
Article Name
Parlay Calculator - Accumulator Calculator on Odds Coach
Description
This Parlay Calculator will help you determine the expected payout for a given parlay bet. Parlay bets are single bets linked together two or more wagers and require all of those bets winning.
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Odds Coach
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