Parlay Calculation Formulas

To calculate the profit of a parlay, the odds format must first be converted to Decimal. If the odds format is already Decimal, then life is easy! 

Calculating Parlays - Decimal Odds 

Let’s calculate the odds for this 4-game parlay:

• Matchup 1: 1.91 
• Matchup 2: 2.00 
• Matchup 3: 2.75 
• Matchup 4: 1.42 

The formula is an easy one: 

Parlay Odds = (Matchup 1 Odds) * (Matchup 2 Odds) * (Matchup 3 Odds) * (Matchup 4 Odds) 

Parlay Odds = (1.91) * (2.00) * (2.75) * (1.42) 

Parlay Odds = 14.92 

Multiply this result by the amount we’re risking - let’s say 10 - to get the total payout from this parlay. 

Payout = 10 * 14.92 

Payout = $149.20 

Remember, when using Decimal odds, you must always subtract the amount your originally risked in order to calculate your profit. So to get the profit here, we subtract 10 from 149.20 to get a profit of 139.20. Nice! 

Pretty straightforward using Decimal odds. If you want to calculate your parlay odds using the American format, there is an intermediary step that converts the American odds value to its Decimal odds equivalent. 

Calculating Parlays - American Odds 

Using American odds, the following assumptions must always be observed:

• “+” is the numerator (top of the divide-by sign) and 100 is the denominator (bottom of the divide-by sign) 
• “-“ is the denominator (bottom) and 100 is the numerator (top) 

Let’s use the same 4-game parlay, except with the odds in American format now:

• Matchup 1: -110 
• Matchup 2: +100 
• Matchup 3: +175 
• Matchup 4: -240 

So for the 2 matchups where the odds start with a “+”, we put the value on top, and 100 on the bottom: 

• Matchup 2: +100 (100/100) 
• Matchup 3: +175 (175/100) 

For the 2 matchup where the odds start with a “-”, we put 100 on top, and the value on the bottom:

• Matchup 1: -110 (100/110)
• Matchup 4: -240 (100/240) 

The formula to calculate the parlay odds is almost the same as with Decimal odds: 

Parlay Odds = (Matchup 1 Odds + 1) * (Matchup 2 Odds +1) * (Matchup 3 Odds +1) * (Matchup 4 Odds +1) 

Parlay Odds = ((100/110) +1) * ((100/100) +1) * ((175/100) +1) * ((100/240) +1) 

Parlay Odds = 1.91 * 2.00 * 2.75 * 1.42 

It’s now in Decimal format, and the calculation can now be finished up using the same process as above. 

Takeaway: you don’t actually need to know how to do this! Signup to WiseStats to have everything calculated for you automatically!