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. For a single bet, 2 to 8 teams or totals can be selected.

1. For decimal odds of 2.00 or greater, the formula is as follows: (decimal odds - 1). 100 = American odds. For decimal odds between 1.01 and 1.99, the formula is as follows: -100 / (decimal odds.
2. To convert odds of less than 2.00, you minus 1 from the decimal and then times the answer by -100. So the calculation for decimal odds of 1.50 is: 1.50 – 1 = 0.5. 0.5 x -100 = -200. To convert American odds to decimals, you simply carry out the reverse calculations. So for positive odds, you divide by 100 and plus.
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In order for the parlay bet to win, every one of the wagers must win or push (tie). If any of the selections lose, your wager loses, regardless of the outcome or cancellation of the other games. If one or more selections is a tie, postponed, incomplete, cancelled or rescheduled for another day, then the wager reverts to the next lowest number. For example, if you place a 5 team parlay and have 4 winners and a tie, your wager pays out as a 4 team parlay. If you place a 2 team parlay and one team wins and one ties, the wager becomes a straight bet.

To calculate the odds of rolling two dice with a sum of four (for instance, a 1 and a 3), begin by calculating the total number of outcomes. Each individual dice has six outcomes. Take the number of outcomes for each die to the power of the number of dice: 6(number of sides on each die) 2(number of dice) = 36 possible outcomes. Implied odds changes things. For example, in Limit Hold'em your opponent bets $20 into an $80 pot and your call gives you pot odds of 5-1 (you're risking $20 to win $100). But, if you expect your opponent to call a bet or raise on the river if you make your hand, your implied odds are 6-1 or 7-1.

6 1 Odds Calculator Formula

6/1 Odds Calculator

The resulting wager will have the same risk amount with the win being calculated to reflect the odds of the remaining team (Example: On a two team $100 parlay with team A +110 and team B -110 if A ties and B wins the resulting wager will be a straight play on B risking $100 to win $91).