How do I use the Parlay Calculator?

Parlay Betting (2 to 8 teams)

A parlay is a bet in which you select 2 to 8 teams or totals. All selections must win or tie in order to win the wager. If any of the selections lose, your wager loses, regardless of the outcome or cancellation of the other games. If one or more selections is a tie, postponed, incomplete, cancelled or rescheduled for another day, then the wager reverts to the next lowest number.

For example, if you place a 5 team parlay and have 4 winners and a tie, your wager pays out as a 4 team parlay. If you place a 2 team parlay and one team wins and one ties, the wager becomes a straight bet.

The resulting wager will have the same risk amount with the win being calculated to reflect the odds of the remaining team (Example: On a two team $100 parlay with team A +110 and team B -110 if A ties and B wins the resulting wager will be a straight play on B risking $100 to win $91).

Calculating Parlay Payouts

2 Team Parlay = Giants -125 | Padres +130 | Amount 100

Payoffs are determined by a simple formula that changes the money line into decimal form:

STEP 1: Converting Money Line To Decimal

For each team in the Parlay Calculator, the money line is converted into decimal form using the following formula:

For a negative money line (-125) you divide 100 by 125 -> 100/125 = 0.8

For a positive money line (+130) you divide 130 by 100 -> 130/100 = 1.3

STEP 2: Add 1 to each of these values.

STEP 3: Find out the amount to be wagered (risked)

Now we can calculate the Parlay Calculator payout with the following formula:

(Risk Amount X Price 1 X Price 2) - Risk amount = PAYOUT

Example: For a $100 parlay with:

GIANTS -125 | PADRES +130

$ 100 X (1+100/125) X (1+130/100) - $ 100 = PAYOUT

$ 100 X 1.8 X 2.3 - $ 100 = $ 314

Use the same method for any number of teams.

Try our Parlay Calculator