Enter the decimal odds for each leg of your parlay bet below. The calculator will then determine the total combined odds and the implied probability of your parlay winning.
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function calculateParlayOdds() {
var oddsInputs = [
document.getElementById("bet1Odds"),
document.getElementById("bet2Odds"),
document.getElementById("bet3Odds"),
document.getElementById("bet4Odds"),
document.getElementById("bet5Odds"),
document.getElementById("bet6Odds"),
document.getElementById("bet7Odds")
];
var validOdds = [];
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = ""; // Clear previous results
for (var i = 0; i = 1.01) { // Decimal odds must be >= 1.01
validOdds.push(oddValue);
} else if (!isNaN(oddValue) && oddValue < 1.01) {
resultDiv.innerHTML = "Error: Odds for Bet " + (i + 1) + " must be 1.01 or higher.";
return;
}
}
if (validOdds.length < 2) {
resultDiv.innerHTML = "Please enter at least two valid decimal odds (1.01 or higher) to calculate a parlay.";
return;
}
var totalParlayOdds = 1;
for (var j = 0; j < validOdds.length; j++) {
totalParlayOdds *= validOdds[j];
}
var impliedProbability = (1 / totalParlayOdds) * 100;
resultDiv.innerHTML =
"Total Parlay Odds:
Understanding Parlay Bets and Odds
A parlay bet is a single wager that links together two or more individual bets, known as "legs." For the parlay to win, every single leg of the bet must be successful. If even one leg fails, the entire parlay loses. The appeal of parlay bets lies in their potential for significantly higher payouts compared to individual bets, as the odds of each leg are multiplied together.
How Parlay Odds Are Calculated
Calculating parlay odds is straightforward once you understand decimal odds. Decimal odds represent the total payout you receive for every unit wagered, including your original stake. For example, odds of 2.00 mean you get back $2 for every $1 wagered (your $1 stake + $1 profit).
To calculate the total odds for a parlay, you simply multiply the decimal odds of each individual leg together. The formula is:
Total Parlay Odds = Odd_Leg_1 × Odd_Leg_2 × ... × Odd_Leg_N
Example Calculation:
Let's say you place a parlay bet with three legs:
- Leg 1: Team A to win at 2.00 odds
- Leg 2: Player B to score at 1.85 odds
- Leg 3: Game C to go over a certain total at 2.20 odds
Using the formula:
Total Parlay Odds = 2.00 × 1.85 × 2.20 = 8.14
So, your total parlay odds would be 8.14. This means for every $1 you wager, you would receive $8.14 back if all three legs win.
Implied Probability:
The implied probability is the likelihood of an event occurring, as suggested by the odds. For decimal odds, it's calculated as:
Implied Probability = (1 / Decimal Odds) × 100%
For our example parlay with total odds of 8.14:
Implied Probability = (1 / 8.14) × 100% ≈ 12.28%
This means the sportsbook's odds suggest there's approximately a 12.28% chance of all three events happening.
Why Use a Parlay Odds Calculator?
While the math for two or three legs is simple, parlays can involve many more selections. A calculator streamlines the process, ensuring accuracy and quickly showing you the potential payout and the implied probability of your complex bets. It helps bettors understand the risk-reward profile of their parlay strategies.