While parlays offer the chance to turn a small stake into a big payout, understanding how they work and their potential rewards is crucial for success. Become a parlay pro – use the free parlay calculator from Lines.com and learn how to calculate payouts yourself!
In simple terms, a parlay bet is a single slip (or wager) comprising two or more wagers on one or more sporting events. To illustrate, imagine staking $100 on the Los Angeles Lakers to defeat the Bolton Celtics in a matchup. That’s a SINGLE bet.
If you combined that bet with one or more predictions from that same game (or another game) and then staked that same $100 on that combo, you’d essentially be creating a parlay bet.
These kinds of bets usually carry a higher payout because they combine different individual wagers (or leg) into one bet. They also tend to be riskier than single bets since bettors must correctly predict each leg in order to win the parlay.
This means that if one game or one leg is incorrect, the entire bet loses.
Another name for parlay bets (one that more accurately reflects their structure) is MULTIPLE bets.
Check out our guide for the Best Sports Betting Apps
Calculating the payout on a parlay can be challenging, especially when you’re working with American odds. In this section, we’ll provide step-by-step guides on how to calculate Parlay payouts using decimal and American odds.
Step 1: The first step involved in calculating parlay payouts is multiplying the odds for each leg in that bet.
As an example, imagine a three-leg parlay with the following odds:
To get the total odds for this parlay bet, you’ll have to multiply the odds for all three bets together. The product of all three odds in this parlay is 12.25.
Step 2: In the next step, we multiply the total odds (12.25) by our wager. So a $100 bet would result in a total payout of $1225; 100 x 12.25.
It’s worth noting that the total payout and net profit on a parlay are different things. Nevertheless, calculating the net profit on a multiple bet is as simple as deducting the original wager from the potential winnings or total payout, which in this case would be $1225 – $100 = $1125
Step 1: Convert the odds to decimal format.
For positive American odds, divide the number by 100 and add 1 to the result. To illustrate;
The procedure for converting negative odds is quite similar. Just switch the positions of the numerator and the denominator in the formula above, disregarding the minus sign attached to the numeric value.
For example:
Step 2: After converting all the legs of your parlay bet from American odds to decimal odds, simply multiply them together to find the total payout.
Step 3: For the final step, multiply the product of all the odds by your stake. If the overall odds on your parlay amount to 15 and you stake $50, your potential payout should be $750 ($50 x 15).
Manually carrying out these processes can take a considerable amount of time. If you’re looking for a quicker and more efficient way to calculate the potential payout on a parlay bet, consider trying out our Parlay Calculator.
Our parlay odds calculator is easy to use. Simply follow these steps:
Step 1: Input your odds. The +/- buttons beside the odds field let you choose your preferred American odds format. Click the minus button for negative odds and the plus button for positive odds.
Some betting sites provide different odds format options. It depends on the one you prefer. American, decimal, fractional odds, and implied probability can be calculated.
Step 2: Input the amount of money you want to stake. The odds calculator shows the amount of money you would win and the total payout you would receive.
You can stake any value you like as long as your bankroll can handle it.
Now that you have a grasp of the fundamentals of a parlay bet and its payout calculation, let’s explore the diverse range of bet types that can be combined into one.
Prop betting is a wager based on the occurrences and non-occurrences of an event. These incidents may not pertain to the event’s outcome, unlike points spread, futures or totals.
Unlike straight bets, point spread bets don’t just predict the winner, but by how much they’ll win or lose. In essence, the point spread predicts the margin of victory, allowing bettors to wager on whether the favored team will win by more points than the spread, or if the underdog will lose by fewer points.
Totals or over/under betting is when you wager on the two teams’ combined score in any game. A bet on the over means there is a probability that both teams will combine to score more goals, points, or runs than the total listed.
Conversely, an under bet means you think there will be fewer goals or points than the total listed.
A futures bet is used to make long-term bets. The outcome of the bet is not decided till the distant future. It is used to wager on an event, series, or award that will finish in the future.
BETTING ODDS FORMATS
The three most important betting odds formats are American, decimal, and fractional odds. A betting odds calculator can calculate these formats. The sportsbooks in Asia may also quote Hong Kong, Indonesian, and Marlay odds.
The American odds are also identified as moneyline odds. The American odds usually start with a plus (+) or a minus (-).
It states the amount of profit you would earn from a $100 bet if your wager is successful. For example, an American odds of +120 would win $120 on a successful $100 bet.
You would also get your stake returned for a successful bet, so your return would be $220.
It indicates the amount you would need to wager to get a $100 profit. For example, American odds of -120 means that you must wager $120 to earn a $100 profit. You would get your stake returned if your bet wins so that your return is $220.
You can wager any amount you like. If one of the teams has a negative odd and the opposition team has a positive odd, the negative one is the favorite while the positive one is the underdog.
Decimal odds are mostly used outside of the United Kingdom, United States, and Ireland. It states the potential profits you should expect on your bet amount if your bet is successful.
It includes the amount of profit earned and your stake. A decimal odd makes it easier to know your returns on a parlay. You can use a parlay calculator to make conversions in decimal and American odds.
For example, decimal odds of 2.50 means that you would enjoy a return of $2.50 for every $1 you wager. That is $1.50 profit and $1, which represents your stake.
It is used mainly in the United Kingdom and Ireland. They are also known as traditional odds.
Fractional odds are quoted as a fraction showing the potential amount paid out relative to a given stake. The first number (numerator) is the amount you would win by risking, while the second (denominator) is your stake. A fraction odd of ⅘ means earning $8 profit for every $10 you stake.
Fractional odds of ⅘ is equivalent to an American odds of -125 and a decimal odds of 1.80. If the fraction is less than one, it is known as odds-on. An odds converter can make this conversion.
The implied probability is a factor that is important in deciding whether to place a bet or not. The implied probability correlates to the probability of an event needing to occur to justify any odds.
It is the probability of a team winning. This applies to sports betting, horse racing, casino bet types, and other forms of wagers.
Bettors are generally trying to find instances where the actual probability is greater than the implied probability odds. This represents an attractive bet. For instance, a +200 American odds is equivalent to a probability of 33.33%.
For someone who is new to the world of sports betting, it can be overwhelming and confusing. The different formats used to represent the probability of an outcome can sound bewildering in some circumstances.
A betting calculator is a software used to convert the format of one odd to another. This helps in identifying the rewards and risk ratio before placing a bet.
The main reason for a bet calculator is to make better decisions. Rather than making numerous calculations to understand a bet, one can use these calculators and converters at once.
The calculator can support the different kinds of odds. It can help to quickly know the amount of a profit you will make based on your bet amount when you place a bet
The Pittsburgh Pirates visit Wrigley Field to take on the Chicago Cubs on June 13th, 2025, at 2:20 pm. The Cubs, with a record of 41-27, are favored in this matchup against the Pirates, who sit at 28-41. Check out the current betting odds with the Cubs at -206 and the Pirates at +172, along with the over-under set at 7.0. The Edge AI sports betting tool is a great resource for finding the best bets for this game. Key players to watch include Isiah Kiner-Falefa for the Pirates, who has a .298 batting average, and Andrew McCutchen, contributing with 6 home runs and 25 RBIs. For the Cubs, Nico Hoerner leads with a .288 average, while Kyle Tucker has been productive with 13 home runs and 43 RBIs. No significant injuries are reported for either team, so both sides should be at full strength. Recent matchups show the Cubs have won two of the last three encounters, adding to their confidence heading into this game.
The Miami Marlins visit the Washington Nationals at Nationals Park on June 13th, 2025, with the game set to start at 6:45 pm. The current moneyline has the Marlins at +108 and the Nationals at -126, so check out The Edge AI sports betting tool for the best bets on the spread and over-under, which is set at 9.0 runs. The Marlins come in with a record of 25-41, while the Nationals sit at 30-37. Miami’s Xavier Edwards has been solid at the plate with a .272 average, while Kyle Stowers has provided some power with 10 home runs. For Washington, James Wood leads the way with a .270 average and 16 home runs, making him a key player to watch. Both teams are relatively healthy, with no significant injuries reported. In their recent matchup history, the Marlins have won two of the last three meetings against the Nationals, adding some intrigue to this contest.
The Toronto Blue Jays visit Citizens Bank Park to take on the Philadelphia Phillies on June 13th, 2025, at 6:45 pm. The current moneyline has the Blue Jays at +115 and the Phillies at -135, with an over-under set at 8.5 runs. Check out The Edge AI sports betting tool for the best bets on this matchup. Toronto holds a record of 38-30, while Philadelphia is slightly ahead at 39-29, making this a tightly contested game. Key players to watch include Alejandro Kirk for the Blue Jays, who boasts a .325 batting average and has driven in 31 runs this season. Trea Turner leads the Phillies with a .303 average and 30 RBIs. Notably, both teams are dealing with injuries; Ernie Clement is questionable for Toronto with a lower body issue, while Bryce Harper is out for Philadelphia due to wrist inflammation. The recent matchup history shows the Blue Jays have taken two of the last three meetings, adding another layer of intrigue to this game.
The Los Angeles Angels visit Oriole Park at Camden Yards to take on the Baltimore Orioles on June 13th, 2025. With the Angels sitting at 33-34 and the Orioles at 27-39, this matchup presents an interesting dynamic. Check out the betting odds, with the Angels at +136 on the moneyline and the Orioles at -165. The Edge AI sports betting tool can help you find the best bets for this game. Key players to watch include Nolan Schanuel for the Angels, who has a .284 batting average and 3 home runs this season, and Ryan O’Hearn leading the Orioles with a .308 average and 9 home runs. The absence of Ryan Mountcastle due to a hamstring strain could impact the Orioles’ lineup. In their recent matchup history, the Orioles have won two of the last three games against the Angels, adding some intrigue to this contest.
The New York Yankees (41-25) visit Fenway Park to take on the Boston Red Sox (34-36) on June 13th, 2025 at 7:10 pm. With the Yankees favored at -147 on the moneyline and the Red Sox at +120, it’s a matchup worth checking out. Both teams have had mixed results against the spread, with the Yankees at 32-34 and the Red Sox at 32-38 recently. Aaron Judge leads the Yankees with a .394 batting average, 25 home runs, and 59 RBIs, making him a key player to watch. For the Red Sox, Alex Bregman is out due to a right quad strain, which could impact their lineup. Rafael Devers, with a .276 average and 14 home runs, remains crucial for Boston’s offense. The Yankees have won two of their last three meetings against the Red Sox, which adds an interesting layer to this rivalry. For the best betting insights, check out The Edge AI sports betting tool.
The Tampa Bay Rays visit Citi Field to face the New York Mets on June 13th, 2025 at 7:10 pm. The Rays hold a record of 36-32, while the Mets are performing well at 44-24. Check out the betting odds for this matchup with the Rays at +140 and the Mets at -160 on the moneyline. The Edge AI sports betting tool can help you find the best bets for this game. Key players to watch include Jonathan Aranda for the Rays, who has a .314 batting average and 7 home runs, and Pete Alonso for the Mets, boasting a .302 average with 17 home runs and 63 RBIs. Injuries could play a role, as Mark Vientos is out for the Mets with a hamstring issue, which might impact their lineup. In recent matchups, the Rays have won three straight against the Mets, making this an intriguing contest as both teams look to solidify their positions.
The Colorado Rockies visit Truist Park to take on the Atlanta Braves on June 13th, 2025, at 7:15 pm. The Braves are favored at -278 on the moneyline, while the Rockies sit at +231. Check out The Edge AI sports betting tool for the latest odds and insights on spreads and over/under totals. The Rockies are struggling with a 12-55 record, while the Braves are sitting at 29-38, making this matchup intriguing for bettors. Key players to watch include Hunter Goodman for the Rockies, who boasts a .289 batting average with 11 home runs and 39 RBIs. For the Braves, Austin Riley leads the offense with a .280 average and 11 home runs. Both teams have no significant injuries reported, so they should be at full strength. In their recent matchups, the Braves have won two out of three against the Rockies, but the Rockies took the first game of this series. This history adds another layer to consider when placing your bets.
The Chicago White Sox visit Globe Life Field to take on the Texas Rangers on June 13th, 2025 at 8:05 pm. The Rangers hold a record of 32-36, while the White Sox sit at 23-45. Check out the betting odds, with the Rangers at -195 on the moneyline and the White Sox at +100. The Edge AI sports betting tool can help you find the best bets for this matchup. Lenyn Sosa is a key absence for the White Sox due to a right hip flexor strain, impacting their lineup. Andrew Vaughn has struggled this season with a .189 batting average and 5 home runs. For the Rangers, Josh Smith leads with a .279 average and 6 home runs, while Josh Jung adds solid support with a .262 average. Recent matchups have seen the Rangers win two of the last three encounters against the White Sox, including a win just a few days ago. This game presents an opportunity for the Rangers to capitalize on their home advantage.
The Minnesota Twins visit the Houston Astros at Daikin Park on June 13th, 2025, for an 8:10 PM matchup. The Astros currently hold a slight edge in the standings with a 37-30 record compared to the Twins at 36-31. Betting odds show the Astros at -120 on the moneyline, while the Twins sit at +100. For those looking for the best bets, check out The Edge AI sports betting tool for insights on the spread and over-under. Key players to watch include Byron Buxton for the Twins, who boasts a .279 batting average with 11 home runs and 41 RBI, and Jeremy Peña for the Astros, hitting .322 with 9 home runs and 33 RBI. Both players are crucial for their teams’ offensive production. Currently, there are no significant injuries reported for either squad. In their recent matchups, the Astros have had some success, winning two of the last three meetings against the Twins, adding a layer of intrigue to this contest.
The Oakland Athletics visit Kauffman Stadium to take on the Kansas City Royals on June 13th, 2025, at 8:10 PM. The current moneyline has the Royals at -175 and the Athletics at +145, with the spread set at -1.5 for the Royals and +1.5 for the Athletics. For the best bets, check out The Edge AI sports betting tool for updated odds and insights. The Athletics sit at 26-44, while the Royals are at 34-34, making this an intriguing matchup given their records and recent performances. Jacob Wilson leads the Athletics with a .366 batting average and 8 home runs, but his status is questionable due to a hamstring injury. Brent Rooker is another key player, contributing 15 home runs and 41 RBIs. On the Royals’ side, Maikel Garcia is hitting .307 with 7 home runs, while Bobby Witt Jr. adds depth with 8 home runs and 37 RBIs. The Royals will be without Michael Massey, who is on the injured list with an ankle sprain. In their recent matchups, the Royals have won two of the last three games against the Athletics, adding to the competitive backdrop for this game.
The St. Louis Cardinals visit the Milwaukee Brewers at American Family Field on June 13th, 2025, for a matchup featuring two teams with similar records. The Cardinals sit at 36-32 while the Brewers are slightly behind at 36-33. Bettors should check the latest odds, with the Cardinals at +132 on the moneyline and the Brewers at -156. The Edge AI sports betting tool can help find the best bets for this game. Brendan Donovan leads the Cardinals with a .310 batting average and has been a key contributor with 4 home runs and 26 RBIs. For the Brewers, Sal Frelick is a standout, hitting .284 with 4 home runs and 21 RBIs. Both teams have injury concerns, with Donovan and Christian Yelich listed as questionable, which could impact their offensive strategies. In their recent matchups, the Brewers have taken two of the last three games against the Cardinals, adding an interesting layer to this contest.
The San Diego Padres visit Chase Field to take on the Arizona Diamondbacks on June 13th, 2025. The Padres come into this matchup with a record of 38-29, while the Diamondbacks sit at 34-34. Check out the current betting odds, with the Padres at +108 on the moneyline and the Diamondbacks at -125. The Edge AI sports betting tool can help you find the best bets for this game. Manny Machado leads the Padres with a solid .320 batting average and 10 home runs, while Fernando Tatis Jr. adds power with 13 home runs. For the Diamondbacks, Josh Naylor is performing well with a .302 average and 8 home runs. Both teams are looking to gain momentum, but there are no significant injuries reported that might impact their performance. In their recent matchups, the Diamondbacks have won two of the last three encounters against the Padres, adding a layer of intrigue to this contest.
The Cleveland Guardians face off against the Seattle Mariners at T-Mobile Park on June 13th, 2025. The Guardians come in with a record of 35-32, while the Mariners sit at 33-34. Check out the odds for this matchup, with the Guardians at +110 on the moneyline and the Mariners at -131. The Edge AI sports betting tool can help you find the best bets for this game. José Ramírez has been a standout for Cleveland, boasting a .331 batting average with 12 home runs and 33 RBI. Steven Kwan is also contributing well with a .305 average. For Seattle, J.P. Crawford leads with a .279 average and a .393 on-base percentage, while Cal Raleigh packs a punch with a .265 average and 26 home runs. Both teams are relatively healthy, with no significant injuries reported. In their recent matchup history, the Guardians have won two of the last three games against the Mariners, adding an interesting twist to this contest.
The San Francisco Giants travel to Dodger Stadium to face the Los Angeles Dodgers on June 13th, 2025, at 10:10 pm. The Dodgers hold a slight edge with a record of 41-28, while the Giants sit at 40-28. Be sure to check the betting odds, with the Giants at +140 and the Dodgers at -160. The Edge AI sports betting tool can help you find the best bets for this matchup. Key players to watch include Freddie Freeman for the Dodgers, boasting a .347 batting average and 41 RBIs, and Heliot Ramos for the Giants, who has a solid .295 average with 34 RBIs. The Giants will be missing Matt Chapman and Patrick Bailey due to injuries, which could impact their lineup. In their recent matchups, the Dodgers have won two of the last three games against the Giants, adding to the competitive nature of this series.
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