We’ve all seen the stories on social media: the average Joe cashes in a 10-leg, life-changing lottery ticket and quits his job instantly. Nothing stokes the flames of a sports bettor’s imagination like the idea of hitting a prodigious parlay. Some retail sportsbooks, such as those located at Las Vegas casinos, have fixed odds for parlays when betting point spreads or Over/Under totals and assume the standard -110 odds.All betting content on NJ.com is written exclusively by Catena Media, which provides expert analysis, reviews, bonuses, and tools for sports bettors and casino players. It’s important to note that the calculator above doesn’t reflect parlay odds in all sportsbooks. To get the decimals odds, you would calculate using this formula:

Using odds of +150, you would wager $100 to win $150, so the total payout would be $250. So to get the decimal odds, you would calculate using this formula: Using odds of -130, you would need to risk $130 to win $100, so the total payout would be $230.

To convert American odds to decimal odds, you take the total payout of the wager and divide it by the amount wagered. The easiest way to do this is with our odds converter, but if you want to do it by hand, here’s how it works: Converting American odds to decimal odds Your parlay calculation would look like this:Īmerican odds cannot simply be multiplied together - each leg needs to first be converted to decimal odds.

How parlay odds are calculatedĬalculating parlay odds is simple when using decimal odds: Simply multiply the odds from each leg together to get the parlay odds.įor example say you wanted to combine two bets into a parlay.

Learn more about parlay betting with our parlay betting guide. The more picks you add to your parlay, the larger the potential payout grows. Instead of wagering a set bet amount on a single game, event or prop, parlay betting offers you the option to tie together two or more of these picks and risk a set bet amount in hopes of a larger payout.

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