How Does a Parlay Calculator Work?
A parlay combines two or more betting selections, called legs, into one wager. For a standard parlay to win, every leg must win. A calculator converts each leg's price into decimal odds, multiplies those prices together, and uses your wager to estimate the total return.
With the ParlayGeeks builder, you can select actual available DraftKings markets instead of manually copying prices. The calculation updates as you add or remove legs.
How to Calculate Parlay Odds
American odds such as +150 or -120 are converted to decimal prices. Multiply the decimal prices of all legs to get the combined odds. For example, two selections at +100 each have decimal odds of 2.00 × 2.00 = 4.00, equivalent to +300 American odds.
How to Calculate a Parlay Payout
Multiply your wager by the combined decimal odds. Subtract the original wager to find your profit. A $25 wager at +300 would return $100 total, including $75 profit, if both legs win.
For additional formulas and examples, see our guide to calculating parlay payouts.
American Odds vs. Decimal Odds
- +150: A $100 wager would earn $150 profit if it wins.
- -120: You would risk $120 to earn $100 profit.
- 2.50 decimal: Every $1 wagered returns $2.50 total if it wins.
Use the Odds format selector above to switch how prices are displayed. Your payout calculation stays equivalent.
Moneylines, Spreads, Totals and Player Props
A moneyline picks a winner; a point spread accounts for a margin; a total predicts whether combined scoring goes over or under a line; and a player prop concerns a player's performance. Available markets depend on the league and sportsbook.
Learn more about moneyline betting, sportsbook odds, and player props.
Common Parlay Mistakes
- Adding extra legs just to chase a larger advertised payout.
- Confusing potential return (wager plus profit) with profit.
- Forgetting that each additional leg adds another outcome that must win.
- Assuming displayed odds are locked in or that every combination is accepted.
- Ignoring the effect of correlated selections and sportsbook parlay restrictions.