Convert each leg to decimal odds, multiply them together, then multiply by your stake. A two-leg parlay of +150 (2.50) and -110 (1.91) gives combined odds of about 4.77, so a $50 stake returns roughly $238. The calculator above does it for any number of legs.

For positive American odds, divide by 100 and add 1, so +150 becomes 2.50. For negative odds, divide 100 by the number and add 1, so -110 becomes about 1.91. Type any format above and the rest update automatically.

Implied probability is the break-even win rate a price represents. Divide 1 by the decimal odds: 2.50 implies 40%. If you think the real chance is higher than that, you have an edge.

A hedge is a bet on the opposite outcome that locks in a result no matter what happens. The hedge mode calculates the exact stake to place on the other side so your return is the same either way.

Edge, or expected value, is how much you expect to win or lose per dollar on average. Multiply your true win probability by the decimal odds: above 1 is positive EV, below 1 is negative. The edge mode also returns a Kelly stake.