A parlay calculator is a betting tool that aids gaming investors find out the odds and results of a parlay bet. A parlay, also known as an accumulator, is 1 bet whose results are usually determined by 2 or even more underlying bets.
When successful, it offers greater returns to the investor since it links up many events for a higher payout. If the parlay is to win, each of the bets must win. If one happens to lose, then the whole bet ends up in a loss, regardless of the outcome of all the other games.
Parlay Calculator Formula / Calculation
Odds1 = 10 = (10 + 100) / 100 = 1.1
Odds2 = 15 = (15 + 100) / 100 = 1.15
Odds3 = 20 = (20 + 100) / 100 = 1.2
Bet Amount = 20
Payout = ( ( Odds1 * Odds2 * Odds3 ) - 1 ) * Bet Amount = ( ( 1.1 * 1.15 * 1.2 ) -1 ) * 20 = 10.36