How to Calculate Parlay Odds: Complete Guide

A parlay (also called an accumulator or combo bet) combines multiple selections into a single wager. Understanding how to calculate parlay odds is essential for any serious bettor.

The Basic Formula

Calculating parlay odds is straightforward:

Total Odds = Odds₁ × Odds₂ × Odds₃ × ... × Oddsₙ

Step-by-Step Example

Let's say you want to bet on three NFL games:

Calculation: 1.91 × 1.67 × 1.87 = 5.97

With a $100 stake, your potential payout would be **$597**.

Converting Different Odds Formats

American to Decimal

Positive odds (+150): (150 ÷ 100) + 1 = 2.50

Negative odds (-150): (100 ÷ 150) + 1 = 1.67

Fractional to Decimal

5/2: (5 ÷ 2) + 1 = 3.50

Understanding Implied Probability

Each selection in your parlay has an implied probability:

Implied Probability = 1 ÷ Decimal Odds × 100%

For a 3-leg parlay:

• Leg 1: 1.91 odds = 52.4% probability
• Leg 2: 1.67 odds = 59.9% probability
• Leg 3: 1.87 odds = 53.5% probability

Combined probability: 0.524 × 0.599 × 0.535 = 16.8%

Why Bookmakers Love Parlays

The house edge compounds with each leg added:

Tips for Smarter Parlay Betting

1. Limit your legs - Stick to 2-4 selections
2. Correlate your picks - Look for related outcomes
3. Use parlay insurance - Many books offer protection if one leg loses
4. Shop for best odds - Small differences multiply significantly

Use Our Free Calculator

Don't do the math manually! Use our Parlay Calculator to instantly calculate:

• Total odds from any number of selections
• Potential payouts
• Implied probability
• Expected value

Ready to calculate your next parlay? Try our free parlay calculator now.

Build your parlay step by step with our interactive Parlay Builder.

Explore more advanced betting combos with the Round Robin Calculator.