Enter the probabilities of winning each individual bet into the calculator to determine the Parlay Probability.

Parlay Probability Formula

The following formula is used to calculate the Parlay Probability. 

PP = B1 * B2 * B3 * ... * Bn

Variables:

  • PP is the Parlay Probability B1, B2, B3, …,
  • Bn are the probabilities of winning each individual bet (decimal)

To calculate the Parlay Probability, multiply the probabilities of winning each individual bet together. This will give you the overall probability of winning the parlay bet. Remember, all individual bets must be won for the parlay to be successful.

What is a Parlay Probability?

A Parlay Probability refers to the likelihood of winning a parlay bet, a type of wager that involves multiple bets combined into one. In a parlay bet, all individual bets must be won for the parlay to be successful. The probability of winning a parlay bet is calculated by multiplying the odds of each individual bet together. This type of betting is popular in sports and can result in high payouts, but the risk is also higher due to the need for all bets to be successful.

How to Calculate Parlay Probability?

The following steps outline how to calculate the Parlay Probability using the given formula:

  1. First, gather the probabilities of winning each individual bet (B1, B2, B3, …, Bn).
  2. Next, multiply all the probabilities together using the formula PP = B1 * B2 * B3 * … * Bn.
  3. Finally, calculate the Parlay Probability (PP).
  4. After inserting the values of B1, B2, B3, …, Bn and calculating the result, check your answer.

Example Problem:

Use the following variables as an example problem to test your knowledge:

B1 = 0.6

B2 = 0.8

B3 = 0.5

…

Bn = 0.7