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Parlay Odds Formula:
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A parlay bet combines multiple individual wagers into one bet where all selections must win for the bet to pay out. The potential payout is higher than placing each bet separately because the odds are multiplied together.
The total odds for a parlay bet are calculated by multiplying the decimal odds of each individual bet:
Where:
Example: A 3-team parlay with odds 1.5, 2.0, and 1.8 would have total odds of 1.5 × 2.0 × 1.8 = 5.4
Formula: To calculate potential payout, multiply your stake by the parlay odds.
Example: $100 bet on a 5.4 odds parlay would pay $100 × 5.4 = $540 ($440 profit + $100 stake)
Instructions: Enter decimal odds for each leg of your parlay (minimum 1.01). The calculator will multiply them together to show your total parlay odds.
Q1: What's the difference between decimal and American odds?
A: Decimal odds show your total return per unit staked (2.5 means you get 2.5× your stake back). American odds show how much you'd win on a $100 bet.
Q2: How many bets can I include in a parlay?
A: Most sportsbooks allow 2-15 legs in a parlay, with higher payouts for more legs.
Q3: Are parlays a good betting strategy?
A: Parlays offer higher payouts but lower probability of winning than single bets. They're higher risk but can be exciting.
Q4: What happens if one leg of my parlay pushes?
A: Typically, that leg is removed and the parlay continues with the remaining legs at reduced odds.
Q5: Can I combine different bet types in a parlay?
A: Yes, you can combine moneyline, spread, and total (over/under) bets in most cases.