Calculating parlays- Help math gurus

[punchmaster]

I'm a pure money line bettor and I do like to put parlays together and think I've benefited from them.

I recently parlayed a -800 with a -600, and the odds I was paid was -333. Is there a way to calculate what you should be getting paid for any given parlay.

I think I've heard that parlays are good for the books because they don't pay the true odds and that is why some players don't parlay at all?

Thanks

[raiders72002]

http://www.parlaycalculator.com/

[Ganchrow]

http://www.parlaycalculator.com/

My parlay calculator is better.

[dizzyd]

I am a math major and I can't figure out the Moneyline parlays myself. I am sure that the book does have advantage though becuase on regular parlays that aren't moneylines they definitely get a pretty big advantage.
Looking at BetJamaica they pay out 11:1 on 4 team parlays when the odds are really 16 to 1 that you hit. A two team parlay pays 13:5 (not even 3:1) when it should really be 4:1.

The more teams you have in your parlay the more they are "scamming" you on what the odds are of hitting them.

I will spend some time trying to figure out the Moneyline parlays.

[Santo]

Just convert them to decimal and multiply.

[Ganchrow]

I recently parlayed a -800 with a -600, and the odds I was paid was -333. Is there a way to calculate what you should be getting paid for any given parlay.

1. Convert all odds to decimal format (follow the steps in this post or use my Odds Converter)
2. Multiply together each of the decimal odds
3. The final product represents the true parlay odds (in decimal form)

Example: What are the true parlay odds when parlaying a line of -800 with a line of -600?

-800 in decimal odds form = 1 + 100/800 = 1.1250
-600 in decimal odds form = 1 + 100/600 ≈ 1.1667

True parlay odds = 1.1250 × 1.1667 = 1.3125

1.3125 in US odds form = -100 / (1.3125-1) = -320

[punchmaster]

My parlay calculator is better.

Great- thanks Ganchrow and Raiders72002! I actually didn't get taken to bad in my example- only .9 vig. Interestingly enought I layed the same bet and on this one they're paying the true odds. And just why is yours better Ganchrow?.


Nothing like getting true odds, that's why when playing craps you must lay the odds bet or money behind the pass line as it's the only bet in the casino that pays true odds.

[raiders72002]

You can also convert here

http://annabet.com/tools/Wizard_Of_Odds/index.php?Convert%5B%5D=-800&Convert%5B%5D=&Convert%5B%5D=&Convert%5B%5D=&Calculate=Calculate

[Santo]

You're not getting true odds, as the prices you're parlaying still contain vigorish.

[Ganchrow]

Great- thanks Ganchrow and Raiders72002! I actually didn't get taken to bad in my example- only .9 vig.

Well, no. You only paid a 0.93% premium over true parlay odds. The total vig you paid was certainly much higher. Assuming vig consistent with a -110 line set (4.545%), at -333 you paid about 9.73% in vig.

And just why is your [parlay calculator] better Ganchrow?.

1. because it's on this site
2. because it accepts either US or decimal odds
3. because it calculates not only true parlay odds, but also implied mathematical odds
4. because it calculates premiums paid over both true parlay and implied mathematical odds
5. because it accepts up to 15 underlying lines rather than just 10
6. because it looks nicer
7. because I wrote it and so if you ever have any issues with it you can always post them here

[RickySteve]

I am a math major and I can't figure out the Moneyline parlays myself.

Who says No Child Left Behind isn't a success?

Looking at BetJamaica they pay out 11:1 on 4 team parlays when the odds are really 15 to 1 that you hit.

A two team parlay pays 13:5 (not even 3:1) when it should really be 3:1.

FYP

[moses millsap]

Well, no. You only paid a 0.93% premium over true parlay odds. The total vig you paid was certainly much higher. Assuming vig consistent with a -110 line set (4.545%), at -333 you paid about 9.73% in vig.

1. because it's on this site
2. because it accepts either US or decimal odds
3. because it calculates not only true parlay odds, but also implied mathematical odds
4. because it calculates premiums paid over both true parlay and implied mathematical odds
5. because it accepts up to 15 underlying lines rather than just 10
6. because it looks nicer
7. because I wrote it and so if you ever have any issues with it you can always post them here

#6 sounds like something that HG character would say.

[raiders72002]

Ganch- What happened to your math tools? It use to be listed at the top. I would have just posted that but didn't see it anywhere.

[isetcap]

Parlays are bush league.

[Ganchrow]

Ganch- What happened to your math tools? It use to be listed at the top. I would have just posted that but didn't see it anywhere.

Click Tools at the top of the forum. (Next to "MLB", "More" and "Odds").