How To Calculate Parlay Odds

A Parlay Calculator represents a unique tool for managing parlay bets, a type of wager where multiple outcomes, at least two or more, must all be successful for the bet to win. The calculation of a parlay bet involves multiplying the odds of each individual pick together, and then multiplying this total with the stake placed. By using a Parlay Calculator, you can easily calculate the potential returns on your bets. This tool allows you to enter your stake and the odds in various formats, such as American, Decimal, or Fractional, to quickly determine your bet’s payout.

Disclaimers on Payouts and Earnings

Please note that there may be minor discrepancies in payouts and earnings due to the methods used for rounding and converting odds, especially in the case of parlays. To assist with more accurate calculations, a Parlay Calculator can be utilized. However, the figures provided here are primarily for demonstration and may not precisely match actual payouts and earnings as calculated by the Parlay Calculator.

Illustrative Matchups

Selected Games:

• Game 1: Portland Trail Blazers vs. Boston Celtics
• Game 2: Los Angeles Lakers vs. Toronto Raptors
• Game 3: Denver Nuggets vs. Atlanta Hawks
• Game 4: Dallas Mavericks vs. New York Knicks

American Odds Format

• Game 1: Portland Trail Blazers (+130) vs. Boston Celtics (-130)
• Game 2: Los Angeles Lakers (-105) vs. Toronto Raptors (+105)
• Game 3: Denver Nuggets (+155) vs. Atlanta Hawks (-170)
• Game 4: Dallas Mavericks (+175) vs. New York Knicks (-175)

To accurately compute parlay odds using American format, a conversion to decimal odds is essential. Given that many of these odds result in repeating decimals, we show an intermediate step in the conversion to ensure precise final payout calculation. Therefore, the cumulative odds for the parlay bet would be (2.3 x (205/105) x 2.55 x 2.75) = 32.76.

The projected payout for this parlay bet would be ($100 stake x 32.76) = $3,276.00.

Decimal Odds Format

• Game 1: Portland Trail Blazers (2.3) vs. Boston Celtics (1.77)
• Game 2: Los Angeles Lakers (1.95) vs. Toronto Raptors (2.05)
• Game 3: Denver Nuggets (2.55) vs. Atlanta Hawks (1.59)
• Game 4: Dallas Mavericks (2.75) vs. New York Knicks (1.43)

The cumulative odds for the parlay bet would be (2.3 x (205/105) x 2.55 x 2.75) = 32.76.

The projected payout for this parlay bet would be ($100 stake x 32.76) = $3,276.00.

Fractional Odds Format

• Game 1: Portland Trail Blazers (13/10) vs. Boston Celtics (10/13)
• Game 2: Los Angeles Lakers (19/20) vs. Toronto Raptors (21/20)
• Game 3: Denver Nuggets (31/20) vs. Atlanta Hawks (9/16)
• Game 4: Dallas Mavericks (7/4) vs. New York Knicks (4/7)

For calculating parlay odds in fractional format, a conversion to decimal odds is required, similar to the American odds. Thus, the cumulative odds for the parlay bet would be ((13/10 + 1) x (19/20 + 1) x (31/20 + 1) x (7/4 + 1)) = ((2.3 + 1) x ((205/105) + 1) x (1.55 + 1) x (2.75 + 1)) = 32.76.

• It’s crucial to add 1 to each fractional conversion to obtain the total payout; otherwise, it reflects only the profit.

The projected payout for this parlay bet would be ($100 stake x 32.76) = $3,276.00.