# Parlay Calculator | See the Odds, Profit, & Payout

## How to Use This Parlay Calculator

To calculate the odds, potential profit, and potential total payout of a parlay using our parlay calculator:

- Enter your bet amount.
- Select your odds format (American, Decimal, Fractional, Hong Kong, Malaysian, or Indonesian).
- Add the odds for each bet of your parlay.

After you enter valid odds, your parlay odds, potential profit, and total payout will automatically be calculated.

## What is a Parlay Bet?

A parlay bet combines multiple bets into one, offering larger payouts the more bets you add. Parlays only payout if every individual bet wins. In other words, if even one selection loses, the entire parlay loses.

The more bets you add to a parlay, the larger the potential payout gets. However, the probability of losing also increases the more bets you add to a parlay.

Parlays have gained popularity, particularly among casual bettors, because the potential payouts are larger than placing each bet individually. Let's compare placing two individual -110 (1.91 decimal odds, 10/11 fractional) wagers vs parlaying two -110 wagers.

- If you bet $10 on two individual -110 bets and win, you'll profit $18.18 ($9.09 profit on each bet).
- If you bet $10 on a parlay that includes two -110 selections and win, you'll profit $26.45.
- If you bet $20 on a parlay that includes two -110 selections and win, you'll profit $52.89.

While this may make parlays seem enticing, it's important to remember that your odds of winning a parlay are lower than winning a single bet.

Assuming both sides of the -110 bets above were equal (both -110), and the odds are priced accurately, the true expected odds of winning a single -110 bet is 50%. If you combine two -110 bets into a parlay, the true odds of winning are only 25%.

## How to Calculate Parlay Odds

Aside from using our parlay calculator, the easiest way to calculate parlay odds is to convert your odds to decimal odds, multiply each of the decimal odds together, and then convert that product back to your odds format.

### How to Calculate Parlay Odds From American Odds

Using the previous example of parlaying two -110 selections, the first step is to convert -110 to decimal odds.

To convert American odds to decimal odds:

**For positive American odds**, add 1 to (the American odds divided by 100). Example for +150 American odds: (150 / 100) + 1 = 2.5

**For negative American odds**, subtract (100 divided by the American Odds) from 1. Example for -150 American odds: 1- (100 / -150) = 1.67

Given our -110 odds, we can find that this is equal to 1.9091 decimal odds using the following formula:

1 - (100 / -110) = 1.9091

To find the decimal parlay odds, we'll multiply the decimal odds for each -110 bet together:

1.9091 * 1.9091 = 3.6447

We then need to convert the parlay odds back to American odds.

To convert decimal odds to American odds:

**For decimal odds greater than or equal to 2**, multiply (the decimal odds minus 1) by 100.

Example for 2.2 Decimal Odds: (2.2 - 1) * 100 = 120 or +120 as it's usually expressed.

**For decimal odds less than 2**, divide -100 by (the decimal odds minus 1).

Example for 1.5 Decimal Odds: -100 / (1.5-1) = -200

So, to convert our parlay decimal odds to American odds, we'll use the following formula:

(3.6447 - 1) * 100 = +264.47 American odds

**Note:** If you use our calculator, you'll instead get +264.46. We got a slightly different number above because we were rounding to 4 decimal places, whereas our calculator is more precise.