A series of calculators to help a sports bettor convert odds, size bets correctly or evaluate winrate. The bet calculator allows you to input your stake & odds in American formats to quickly calculate the payout for your bets.

How to Use Our Parlay Calculator

A parlay is a single bet that links together two or more individual wagers for a high payout. A 2 team parlay might pay 13/5, a three team parlay might pay 6/1, a four team parlay might pay 10/1, and so forth with the payouts getting higher with more teams or totals selected.

Our betting calculator can be used for single bets or parlays. It’s easy to run and can instantly convert fractions or decimals into more familiar American betting odds. To use the parlay calculator, select parlay bets and enter your preferred odds format. Then enter the amount you’d like to risk in the bet amount.

You can enter as many wagers as you want. Just click the plus symbol when entering betting odds to generate another spot. Let’s say you wanted to use the parlay calculator to view the payout on a $50, four-team NBA parlay with both moneyline and spread wagers. The individual odds would look like this:

Los Angeles Clippers -10, (-110)

Orlando Magic moneyline (+140)

Philadelphia 76ers -9 (-108)

Phoenix Suns moneyline (+295)

Ignore the point spread when using the parlay calculator. For this NBA betting parlay you would fill out four spots with odds of -110, +140, -108 and +295. The results field will immediately show that the four-team parlay would win $1,692.78 on a successful $50 wager.

Why Bet Parlays

As you can see from the above example, payouts can be lucrative. Parlays give bettors the chance to get action on multiple contests without having to individually bet every game or match. They’re also customizable. You can put $10 on an eight-team parlay or $100 on a two-team parlay. Big moneyline parlays can lead to four and five-figure payouts on relatively small wagers. Something like a two-team parlay provides the chance to string your two favorite bets of the night together for a bigger profit.

If entertainment is what you’re after with the online sportsbooks, parlays offer the best bang for your buck. Putting a longshot parlay together with friends is a great way to stay invested and keep in touch with the crew on a busy NFL Sunday.

Bettors can also hedge out of parlays to guarantee a profit in the later stages. If the first three games of a four-team parlay hit, one could bet the other way on the fourth leg to win money no matter the outcome. Choosing when and if to pull the trigger on a hedge is all part of the parlay betting experience.

Single Bet vs Parlay Bets

Single bets are a one-shot deal. You risk $110 to win $100 on most point spread bets and wait for the result. Parlays drastically improve the odds by stringing bets together, as well as increase the risk. All four games in a four-team parlay must hit for the bet to pay out. But hitting a four-team parlay brings rewards. Correctly betting four -110 games straight up would mean a profit of $400 on four $110 wagers. A four-team parlay would net a bettor $1,228 on a $100 wager. If you’re feeling extremely confident about multiple wagers, a parlay might be the best way to go.

RELATED: Check out our betting odds calculator to calculate payouts and convert odds.

How to Calculate Parlay Odds

Things can get a little hairy with multiple wagers and different odds formats. Our free parlay calculator does the math instantly. Even serious numbers gurus can use it to check their work or compare odds based on the standard parlay betting formula, which uses several steps.

Step 1: Convert Betting Odds

It’s easiest to convert American odds into decimal odds in order to calculate parlay payouts. Our single-bet calculator will do all the work for you. Simply enter American odds such as +140 into the calculator and it will automatically convert to 2.4.

Step 2: Use the Parlay Formula

The actual formula works like this:

(140/100) +1 = 1.4

1.4 +1 = 2.4

Convert the odds for each game of the parlay into decimal format like above. A three-game parlay with American odds of +140, -110 and -160 would have decimal odds of 2.4, 1.909 and 1.625. Multiply all three to get the decimal odds for the entire parlay, like so:

Sports Betting Odds

2.4 X 1.909 X 1.625 = 7.44

Betting Payout Calculator

Step 3: Calculate Total Parlay Payout

Multiply your planned wager by 7.44 to see the payout. A $100 wager, for example, would pay $744 total on the above three-team parlay. You can use the same formula for any number of games or odds type.

Using Our Calculator to Make Sports Betting Decisions

Our parlay bet calculator can be used to convert odds and view potential payouts. But it’s really a tool to help bettors make smart choices. If you are thinking about wagering on three games, you can instantly view the risk/reward of parlaying the three or betting them straight up. The hard numbers let bettors make their own decisions on value and bankroll management without the guesswork.

The parlay calculator is just one of the many resources available at Bookies.com. After consulting our free expert NBA picks or NFL picks and finding the best value on point spreads at various online sportsbooks, the odds calculator offers a quick summary of the numbers to bring it all home and help savvy sports bettors make consistently profitable online gambling decisions.

The ROI Calculator or Return On Investment Calculator helps you measure the efficiency of an investment or our case, a bet. The ROI calculator essentially takes the projected gains from a bet and divides it by the total cost of the bet to come up with a percentage representing the ROI for that wager. This may help you evaluate which bets to place based on the return you are looking for. You are going to need to know a few things before you start: first determine the amount you expect to wager. Next you want to determine the likelihood of winning the bet. This can be your personal feeling on the bet or you can try the Fair Odds Calculator to determine the implied probability of a bet with the vig or juice removed. There is no sense in entering the implied probability from the actual odds, because the ROI calculator will return a 0% rate of return. The final step is to enter the American odds:

How The ROI Calculator Works

Calculating ROI is actually one of the easier ones, especially if you are familiar with implied probability. Let’s work through a quick example. You are going to place a $100 spread bet at -110 odds. Though the odds for both sides of the bet indicate it is 50/50, you know that your long term winning percentage on spread bets is 55%. What the ROI calculator is going to indicate to us is the ideal outcome, over the long term, of a bet like this. Here are the steps for calculating:

1) Calculate The Implied Probability

Sports Betting Payout Calculator

This one is pretty easy. To cheat, please use the Implied Probability Calculator
Implied Probability = (-1*(Odds)) / (-1(Odds) + 100)
Which looks like:
Implied Probability = (-1*(-110)) / (-1(-110) + 100)
or:
52.4% or 0.524 = 110 / 210

2) Calculate The Expected Average Winnings

This one is easier than it sounds. First we need the decimal odds:
Decimal Odds = 100 /(-1 * Odds) + 1 (for negative odds)
1.9091 = 100 / (-1*-110) + 1

Then we plug them into this equation
Winnings = Decimal Odds * Probability of Winning / 100 * Bet
or:
$114.60 = 1.9091 * 60% / 100 * $100

3) Calculate The ROI Using The Winnings

Calculator

Sports Betting Odds Calculator

All the hard work is done. Now we simply get the ROI
ROI = Winnings / Bet – 1
ROI = $114.60 / 100 – 1
ROI = 0.146 or 14.6%

Parlay Calculator

The advice that ROI is giving you, is if you should place a wager based on your estimated winning percentage. If your winning percentage is too low, then some favorite bets may not be worth the risk. The trick is always accurately predicting your estimated winning percentage.