Calculating Parlay Payments
Calculating the correct payment of a parlay does not work the same as a single bet. Keep in mind that parlays have different legs with different matches and different odds to each leg. Therefore, these will affect the calculation of the payment.
The combined odds can be calculated as the multiplication of all the legs' odds.
The main formula is:
Stake x Odds 1st leg x Odds 2nd leg x ... = payout (including the staked amount)
Profit is:
Payout - Stake = real winnings
You can refer to the following examples:
Example 1. Betting on a winning leg
Leg 1: Liverpool (-0.5/1)
Leg 2: Manchester United (-1)
Leg 3: Arsenal (-1/1.5)
Risk Amount: $100
Liverpool
-0.5/1
1.88
Win 2-0
Won
Manchester United
-1
1.92
Win 2-0
Won
Arsenal
-1/1.5
2
Win 3-0
Won
Parlay Calculation:
Payout: 100 x 1.88 x 1.92 x 2.00 = $721.92
Profit: 721.92 - 100 = $621.92
This means that, in a scenario where Liverpool is played first, that leg is calculated as $100 x 1.88 = $188 (this is the return for that leg alone). This amount is carried to the next match that is played.
So, if Manchester is graded next, this would be calculated as $188 x 1.92 = $360.96, then this amount carries on to the next leg: Arsenal would be calculated as $360.96 x 2.00 = $721.92
To this final amount, you would need to subtract the risked amount in order to get the real winnings.
This would only apply if all legs are winners, all matches played accoridngly and all legs get graded as such.
Example 2. Including ties
Leg 1: Liverpool (-0.5/1)
Leg 2: Manchester United (-1)
Leg 3: Arsenal (-1/1.5)
Risk Amount: $100
Liverpool
-0.5/1
1.88
Win 2-0
Won
Manchester United
-1
1.92
Win 1-0
Push
Arsenal
-1/1.5
2
Win 3-0
Won
Parlay Calculation:
Payout: 100 x 1.88 x 1 x 2.00 = $376
Profit: 376 - 100 = $276
In this case, odds for the second leg would be reduced to 1 since the grading result is a push, same would be for a cancellation.
Example 3. Half Win
Leg 1: Liverpool (-0.5/1)
Leg 2: Manchester United (-1)
Leg 3: Arsenal (-1/1.5)
Risk Amount: $100
Liverpool
-0.5/1
1.88
Win 1-0
Won half / Tie half
Manchester United
-1
1.92
Win 2-0
Won
Arsenal
-1/1.5
2
Win 3-0
Won
When a bet is half-won, the stake is split into two equal parts:
One half is refunded (push).
One half is graded as a full win at the given odds.
Half Won/Half push Leg Calculation:
(Stake / 2) + (Stake / 2 x Odds) = Payout carried to the next wager
(100 / 2) + (100 / 2 x 1.88) = $144
Total Parlay Calculation:
Payout: 144 x 1.92 x 2.00 = $552.96
Profit: 552.96 - 100 = $452.96
Example 4. Half Lose
Leg 1: Liverpool (-0.5/1)
Leg 2: Manchester United (-1)
Leg 3: Arsenal (-1/1.5)
Risk Amount: $100
Liverpool
-0.5/1
1.88
Win 2-0
Won
Manchester United
-1
1.92
Win 2-0
Won
Arsenal
-1/1.5
2
Win 1-0
Lose half / Tie half
When a bet is half-lost, the stake is split into two equal parts:
One half is refunded (push).
One half is graded as a loss.
Half Lost/Half push Leg Calculation:
(Stake / 2) = Payout carried to the next wager
(100 / 2) = $50
Since the lost half does not contribute to the next leg, the total amount carried over is just the refunded half: $50
Total Parlay Calculation:
Payout: 50 x 1.92 x 1.88 = $180.48
Profit: 180.48 - 100 = $80.48
Important!
If one (or more) event is postponed or cancelled, the odds for that event will be calculated as 1.00
In a live parlay, if any of the selected matches is rejected due to a goal or red card, the odds for that event will be calculated as 1.00
The settlement odds for a series of passes are reduced to two decimal places.
0.5 – often used for half-loss
1 – Often used for draws
0 – Usually used for full loss
Odds – Often used for full win
Odds + 1/2 – often used to win half
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