| Leg | American | Decimal | Implied | Running payout |
|---|---|---|---|---|
| Leg 1 | +150 | 2.50 | 40.00% | $250.00 |
| Leg 2 | −110 | 1.91 | 52.38% | $477.27 |
| Leg 3 | +200 | 3.00 | 33.33% | $1,431.82 |
What a parlay is
One bet made of several. Every leg has to win for it to pay; one loss and the whole bet loses. The winnings from each leg roll onto the next, so the decimal odds multiply.
Three legs at +150, −110 and +200 are 2.50 × 1.91 × 3.00 = 14.32, so $100 returns $1,431.82.
Before you bet
Each leg you add cuts the chance of winning, and the book's margin on every leg compounds. The win chance here comes from the odds, margin included, so the true chance is a little lower.
Two or three legs keep the risk sensible. Avoid correlated legs (a team to win and the over on its points), which books often price down or refuse. Stake less on parlays than on straight bets.
Using the parlay calculator
Work out what a parlay pays before you place it: the combined odds, the payout and profit for your stake, and how likely it is that every leg wins.
- 1Enter your stake and pick the odds format your book shows.
- 2Type each leg's odds; labels are optional and only help you keep track.
- 3Add legs (up to 15) or remove them, and read the payout, parlay odds and win chance as you go.
Questions bettors ask
How is a parlay payout calculated?
Turn each leg into decimal odds, multiply them together, then multiply by your stake. Two legs at −110 are 1.909 × 1.909 = 3.64, so $100 returns $364.46: $264.46 profit, about +264 in American odds.
What happens if a leg pushes or is voided?
Most books drop that leg and pay the parlay at the odds of the legs that are left, so a three-leg parlay becomes a two-leg one. Remove the leg here to see the new payout, and check your book's rules, as a few treat it differently.
Why is the win chance so low?
Every leg has to win, so the chances multiply: three coin flips all landing your way happen only 12.5% of the time. The chance shown comes from the odds, which include the book's margin, so the true chance is a little lower again.
Are parlays a good bet?
They pay more, but the book's margin on each leg compounds, so parlays usually carry a bigger edge for the book than straight bets. Keep them small, two or three legs, and stake less than you would on a single.