Parlay Calculator: Free Parlay Betting Calculator

A parlay calculator is the fastest way to check your multi-leg bet payouts before you place a wager. Instead of guessing what a 3-leg or 5-leg parlay might return, you enter your odds, input your stake, and instantly see the combined odds, total payout, and profit. Our free parlay calculator helps you understand exactly what you stand to win and what you are risking on every parlay bet.

Whether you are combining NFL spreads, NBA moneylines, or MLB totals, the parlay calculator shows you the true picture of your risk and reward. New to parlays? Start with our complete parlay betting guide to learn the fundamentals before diving into the calculator.

Quick Parlay Odds and Payout Calculator

Use the OddsIndex parlay calculator below to instantly compute your potential parlay payouts. This tool takes the guesswork out of multi-leg betting by showing you exactly what your combined odds, implied probability, and potential profit look like before you place any real money at risk.

The calculator assumes your selections are independent bets. This means each leg has no effect on the outcome of any other leg. For Same Game Parlays where outcomes may be correlated, the calculator provides a useful baseline estimate, but sportsbook SGP pricing will typically differ. We explain why in detail later in this guide.

What the calculator shows you:

• Total Parlay Odds: Your combined odds in American format
• Implied Probability: The mathematical chance of hitting all legs
• Potential Payout: Your stake plus profit if all legs win
• Profit: Net winnings after your stake is returned

Enter your legs, input the American odds for each selection, add your stake amount, and hit calculate. Use this tool to understand your risk, compare different parlay structures, and make informed decisions rather than chasing big payouts blindly.

Important: Parlay calculators help you plan and understand risk. They do not guarantee wins. Parlays are high-risk bets with low hit rates. Always bet within your limits and only wager what you can afford to lose.

How to Use the OddsIndex Parlay Calculator Step by Step

Getting accurate parlay payout calculations takes just a few seconds. Follow these steps to use the parlay calculator effectively.

Step 1: Choose the Number of Legs

Start by deciding how many selections you want in your parlay. A leg is a single bet within your parlay. Most US sportsbooks allow anywhere from 2 to 12 legs in a standard parlay, though some books extend this to 15 or even 20 legs for certain markets.

Typical leg ranges:

• 2 legs: Lowest payout, highest win probability
• 3-4 legs: Moderate payouts with reasonable hit rates
• 5-7 legs: Higher payouts, significantly lower hit rates
• 8+ legs: Massive potential payouts, extremely unlikely to hit

The calculator lets you add or remove legs as needed. Start conservatively and experiment with different structures to find the balance between payout potential and realistic win probability.

Step 2: Enter American Odds for Each Leg

For each selection in your parlay, enter the odds in American format. American odds show how much you win relative to a $100 baseline.

Understanding American odds:

• Negative odds (favorites): Shows how much you must risk to win $100. Odds of -110 means you risk $110 to win $100. Odds of -200 means you risk $200 to win $100.
• Positive odds (underdogs): Shows how much you win on a $100 stake. Odds of +150 means you risk $100 to win $150. Odds of +300 means you risk $100 to win $300.

Common odds you will encounter:

Odds	Type	Typical Market
-110	Standard	Point spreads, totals
-120 to -150	Small favorite	Moneylines, props
-200 to -300	Heavy favorite	Moneylines
+100 (Even)	Pick em	Close matchups
+110 to +150	Small underdog	Moneylines, props
+200 to +500	Moderate underdog	Moneylines
+500 and higher	Big underdog	Longshot bets

If your sportsbook displays decimal odds (1.91, 2.50) or fractional odds (10/11, 3/2), you will need to convert them to American format first or use an odds converter tool.

Step 3: Input Your Stake

Your stake is the amount of money you are putting at risk. If your parlay loses, you lose your entire stake. Enter your stake in dollars.

Bankroll management guidelines for parlays:

• Risk 1-2% of your total bankroll on any single parlay
• Example: $1,000 bankroll equals $10-$20 max stake per parlay
• Parlays have lower hit rates than straight bets, so smaller stakes protect your bankroll

Step 4: Calculate and Review Results

Once you have entered all your legs, odds, and stake, the calculator displays your results.

Output breakdown:

• Combined Parlay Odds: The multiplied odds for all legs combined, shown in American format
• Implied Probability: The mathematical win probability based on the odds
• Total Payout: Your stake plus profit returned to you if you win
• Profit: Your net winnings after getting your stake back

Example calculation:

• Legs: 3
• Odds: -110, -110, +150
• Stake: $25

The calculator shows combined odds around +595, implied probability around 14.4%, total payout of approximately $173.75, and profit of approximately $148.75.

For a deeper explanation of how these calculations work, see our how to calculate parlay odds guide.

Moneyline Parlay Examples

Moneyline parlays are popular because they are straightforward. You simply pick winners without worrying about point spreads. Here are worked examples showing how the calculator handles typical moneyline combinations.

NFL Moneyline Parlay (3 Legs)

Leg	Selection	Odds
1	Chiefs ML	-180
2	Eagles ML	-150
3	Ravens ML	-200

With a $20 stake, this parlay of three favorites returns approximately +143 combined odds, a $28.60 profit, and $48.60 total payout. Notice that stacking favorites keeps payouts modest even at three legs because each individual bet has lower return potential.

NBA Mixed Moneyline Parlay (4 Legs)

Leg	Selection	Odds
1	Celtics ML	-160
2	Nuggets ML	-130
3	Lakers ML	+120
4	Heat ML	+140

With a $10 stake, mixing favorites with underdogs dramatically increases the payout. This combination yields approximately +850 combined odds, an $85 profit, and $95 total payout. The two underdog legs significantly boost the potential return but also lower the overall win probability.

Try plugging these examples into the calculator above to see the outputs for yourself. Experiment with swapping one selection or adjusting your stake to understand how each change affects the payout.

How Parlay Odds and Payouts Work

Understanding how parlay odds are calculated helps you evaluate whether a parlay offers good value or poor value. The math is consistent across all sportsbooks, even if the presentation differs slightly.

The core principle:

Parlay odds compound by multiplying the decimal equivalent of each leg together. The more legs you add, the higher the combined odds but the lower your probability of winning.

How single-leg odds translate to implied probability:

Each set of American odds implies a certain win probability based on the bookmaker's assessment plus their margin (vigorish).

• Odds of -110 implies roughly 52.4% probability
• Odds of +100 implies 50% probability
• Odds of +200 implies 33.3% probability
• Odds of -200 implies 66.7% probability

When you combine multiple bets into a parlay, you multiply the probabilities together. This is why parlay win rates drop so quickly as you add legs.

Example probability compounding:

• 2 legs at 50% each: 0.50 x 0.50 = 25% parlay win rate
• 3 legs at 50% each: 0.50 x 0.50 x 0.50 = 12.5% parlay win rate
• 4 legs at 50% each: 0.50 x 0.50 x 0.50 x 0.50 = 6.25% parlay win rate
• 5 legs at 50% each: 3.125% parlay win rate

Even with each leg having a coin-flip chance of hitting, a 5-leg parlay only wins about 3 times in 100 attempts. This is why sportsbooks love parlays and why bettors need to approach them with realistic expectations.

Parlay Payout Formula and Worked Examples

The parlay payout formula converts each leg to decimal odds, multiplies them together, then multiplies by your stake to get total payout.

Step-by-step formula:

1. Convert each American odds to decimal
2. Multiply all decimal odds together
3. Multiply the result by your stake
4. Subtract stake to get profit

Conversion formulas:

• For negative American odds: Decimal = 1 + (100 / absolute value of odds)
• For positive American odds: Decimal = 1 + (odds / 100)

Worked Example 1: 2-Leg Parlay

Leg	American Odds	Decimal Odds
1	-110	1.909
2	-110	1.909

Calculation: 1.909 x 1.909 = 3.644

With a $50 stake: $50 x 3.644 = $182.20 total payout, $132.20 profit

Combined American odds: approximately +264

Worked Example 2: 3-Leg Parlay

Leg	American Odds	Decimal Odds
1	-110	1.909
2	+120	2.200
3	-150	1.667

Calculation: 1.909 x 2.200 x 1.667 = 7.003

With a $20 stake: $20 x 7.003 = $140.06 total payout, $120.06 profit

Combined American odds: approximately +600

Worked Example 3: 4-Leg Parlay

Leg	American Odds	Decimal Odds
1	-110	1.909
2	-110	1.909
3	-110	1.909
4	-110	1.909

Calculation: 1.909 x 1.909 x 1.909 x 1.909 = 13.29

With a $10 stake: $10 x 13.29 = $132.90 total payout, $122.90 profit

Combined American odds: approximately +1229

Parlay Payout Reference Chart (All Legs at -110)

Number of Legs	Approx Combined Odds	$10 Stake Payout	Implied Probability
2	+264	$36.44	27.5%
3	+595	$69.55	14.4%
4	+1229	$132.90	7.5%
5	+2438	$253.80	3.9%
6	+4742	$484.20	2.1%
7	+9148	$924.80	1.1%
8	+17621	$1,772.10	0.6%

For complete step-by-step calculation tutorials, see our dedicated how to calculate parlay odds guide.

True Odds, Implied Probability, and House Edge

Understanding the difference between true odds and sportsbook odds is critical for evaluating parlay value. This is where many bettors get fooled by attractive-looking payouts.

What are true odds?

True odds represent the actual probability of an outcome occurring, with no bookmaker margin built in. If a team has a genuine 50% chance of winning, the true odds would be +100 (even money).

What are sportsbook odds?

Sportsbook odds include the bookmaker's margin, also called vigorish or juice. This margin ensures the sportsbook profits over time regardless of outcomes. A 50-50 game that should be priced at +100/+100 is instead typically priced at -110/-110. That extra 10 points on each side is the vig.

How vig compounds in parlays:

The sportsbook's margin compounds with each leg you add. This means parlays have a higher effective house edge than straight bets.

Example of margin compounding:

Bet Type	True Odds Payout	Sportsbook Payout	House Edge
Single bet at -110	+100	-110	4.5%
2-leg parlay	+300	+264	9%
3-leg parlay	+700	+595	13%
4-leg parlay	+1500	+1229	17%

As you can see, the house edge roughly doubles with each additional leg. A 4-leg parlay gives the sportsbook about 17% edge compared to 4.5% on a single straight bet.

Implied probability explained:

Implied probability converts odds into a percentage chance of winning. To calculate implied probability from American odds:

• For negative odds: Implied probability = absolute value of odds / (absolute value of odds + 100)
• For positive odds: Implied probability = 100 / (odds + 100)

Example:

• Odds of -150: 150 / (150 + 100) = 60% implied probability
• Odds of +200: 100 / (200 + 100) = 33.3% implied probability

Why this matters for parlays:

Knowing implied probability helps you assess whether a parlay offers reasonable value. If you believe your legs have a better combined chance than the implied probability suggests, the parlay may offer positive expected value. If not, you are paying a premium for the entertainment of chasing a big payout.

Reality check: Identifying poor value protects your bankroll, but it does not guarantee wins. Even well-constructed parlays with good value will lose more often than they win because of the low overall probability.

Same Game Parlays and Correlated Odds

Same Game Parlays, commonly called SGPs, have exploded in popularity at US sportsbooks. An SGP combines multiple bets from a single game into one parlay. For example, you might combine a team to win, a player to score over 20 points, and the total to go over 210 into one SGP.

What makes SGPs different from standard parlays:

Standard parlays assume each leg is independent. The outcome of Chiefs vs Raiders has no effect on the outcome of Eagles vs Cowboys. The calculator multiplies independent probabilities together.

SGPs involve legs from the same game, which creates correlation. Correlation means the outcome of one leg affects the probability of another leg hitting.

Understanding correlation:

• Positive correlation: Outcomes move together. If a running back scores a touchdown, the team is more likely to win. Combining both legs is positively correlated.
• Negative correlation: Outcomes move opposite. If a quarterback throws for 400 yards but his team loses, those outcomes are negatively correlated since high passing typically indicates the team was playing from behind.

Why SGP odds differ from calculator outputs:

Because of correlation, sportsbooks cannot simply multiply independent odds together for SGPs. They use proprietary models that adjust the combined odds based on how the legs interact.

In most cases, this adjustment reduces your payout compared to what a simple parlay calculator shows. Sportsbooks call this the "SGP tax" even though they never phrase it that way in marketing. They promote SGPs heavily because the adjusted odds favor the house even more than standard parlays.

Can you use this parlay calculator for Same Game Parlays?

You can use the calculator to get a rough ballpark estimate and understand the underlying risk, but the actual SGP price your sportsbook offers will almost always differ.

How to use the calculator for SGP planning:

1. Enter your intended SGP legs and odds
2. Review the calculated payout and implied probability
3. Compare this to the actual SGP price on your sportsbook
4. If the sportsbook price is significantly worse, consider whether the bet is still worth it

For detailed SGP strategy and correlation examples, see our Same Game Parlay guide.

Why Same Game Parlay Odds Look Different

Two common questions bettors ask about SGPs:

Can I use a parlay calculator for Same Game Parlays?

Yes, but with limitations. A standard parlay calculator gives you a baseline by multiplying independent odds. This shows what your payout would be if the legs had no correlation. The actual SGP price will typically be lower because sportsbooks adjust for correlation. Use the calculator to understand risk, but always check the real SGP price before betting.

Why are Same Game Parlay odds different?

SGP odds differ because sportsbooks recognize that legs from the same game influence each other. If you parlay a team winning plus their star player scoring 25+ points, those outcomes are positively correlated. The sportsbook reduces the payout because both legs are more likely to hit together than pure independent math suggests.

Numeric example showing the difference:

Imagine you want to parlay these three legs from a single NBA game:

• Celtics -4.5 spread: -110
• Jayson Tatum over 26.5 points: -115
• Game total over 220.5: -110

Calculator output (assuming independence):

1.909 x 1.870 x 1.909 = 6.82 decimal, or roughly +582 American odds

Actual sportsbook SGP price:

Sportsbooks might price this SGP at +450 or +480 instead of +582 because Tatum scoring heavily correlates with the Celtics covering and potentially with higher overall scoring.

The difference between +582 and +450 represents the correlation adjustment plus additional SGP margin the sportsbook takes.

Sport-Specific Parlay Examples

Different sports offer different parlay opportunities based on game frequency, scoring patterns, and available markets. Here are practical examples across major US sports.

NFL Parlay Example

The NFL is the most popular sport for parlays in the United States. With games concentrated on Sundays, bettors love combining multiple spread or moneyline picks into Sunday parlays.

Classic NFL 3-Leg Spread Parlay

Leg	Selection	Odds
1	Chiefs -3.5	-110
2	Bills -7	-110
3	49ers -6	-110

With a $25 stake:

• Combined odds: approximately +595
• Potential payout: $173.75
• Profit: $148.75

Risk analysis: Each spread has roughly a 50% chance of covering (after accounting for vig). Your parlay has about a 12.5% chance of hitting all three. Expect to lose roughly 7 out of every 8 times you place this type of parlay. The profit on winners needs to offset the losses on the misses.

NBA Parlay Example

The NBA offers more games per day than the NFL, giving you more options. Player prop parlays are especially popular in basketball because individual stats are more predictable than team outcomes.

NBA Player Prop Parlay (3 Legs)

Leg	Selection	Odds
1	LeBron over 7.5 assists	-115
2	Jokic over 11.5 rebounds	-120
3	Curry over 4.5 threes	+105

With a $15 stake:

• Combined odds: approximately +498
• Potential payout: $89.70
• Profit: $74.70

Note: Player prop parlays across different games are treated as independent legs. If you combine props from the same game into an SGP, expect adjusted odds as discussed earlier.

MLB Parlay Example

Baseball has more variance than football or basketball, making parlays riskier but potentially more rewarding. Run lines (baseball spreads) and totals are common parlay components.

MLB Moneyline and Total Parlay (3 Legs)

Leg	Selection	Odds
1	Dodgers ML	-165
2	Yankees ML	-140
3	Braves vs Mets Over 8.5	-105

With a $20 stake:

• Combined odds: approximately +306
• Potential payout: $81.20
• Profit: $61.20

Baseball parlay tip: MLB has significant daily variance due to pitching matchups and weather. Many experienced bettors avoid long MLB parlays because even heavy favorites lose frequently.

Parlay vs Round Robin vs Teaser Bets

Before you lock in a straight parlay, consider whether alternative bet structures might better match your risk tolerance.

What Is a Standard Parlay?

A standard parlay combines multiple bets into one. All legs must win for the parlay to pay out. One loss kills the entire bet. The appeal is high payouts from small stakes. The risk is that near-misses return nothing.

What Is a Round Robin?

A round robin breaks your selections into multiple smaller parlays. Instead of one all-or-nothing bet, you get several parlay combinations. If one leg loses, some parlays still survive and can pay out.

Example:

With 4 selections, a round robin might create:

• Six 2-leg parlays
• Four 3-leg parlays
• One 4-leg parlay

Total: 11 separate parlay bets

If one leg loses, you still hit some 2-leg and 3-leg combinations. This provides partial protection but requires more stake to cover all the combinations.

For complete round robin strategy, see our round robin betting guide.

What Is a Teaser?

A teaser lets you adjust point spreads or totals in your favor in exchange for reduced payouts. You move each line by 6, 6.5, or 7 points (in football) or 4-5 points (in basketball).

Example:

• Original spread: Chiefs -7
• 6-point teaser: Chiefs -1

Moving spreads in your favor significantly increases hit rate but dramatically lowers payouts. Teasers can be a smarter choice than standard parlays for risk-averse bettors who still want multi-leg action.

For teaser strategy and math, see our teaser betting guide.

Comparison Table

Bet Type	Payout	Risk	Best For
Standard Parlay	Highest	Highest	Entertainment, longshot hunters
Round Robin	Moderate	Moderate	Risk-averse bettors wanting protection
Teaser	Lower	Lower	Value seekers crossing key numbers

Bottom line: Standard parlays maximize potential payout but offer no safety net. If you want some protection against a single leg losing, explore round robins or teasers before automatically building straight parlays.

Common Parlay Rules and Edge Cases

Sportsbook parlay rules vary slightly, but most US books follow similar guidelines. Understanding these rules prevents confusion when your bet settles.

What Happens If One Leg Pushes?

A push occurs when the result lands exactly on the spread or total number. For example, if you bet Chiefs -7 and they win by exactly 7, the bet pushes.

Most sportsbooks handle pushes like this:

Your parlay reduces by one leg. A 4-leg parlay becomes a 3-leg parlay. The pushed leg is removed, and the remaining legs are recalculated.

Example:

• Original 3-leg parlay at +595
• Leg 1 wins, Leg 2 pushes, Leg 3 wins
• Result: 2-leg parlay payout at approximately +264

Some sportsbooks void the entire parlay on a push. Always check your book's house rules.

What Happens If a Leg Is Voided?

A void differs from a push. Voids typically occur when:

• A game is canceled or postponed
• A player in a prop bet does not participate
• A technical error in the odds

Most books treat voids like pushes by removing that leg and recalculating the remaining parlay. However, some books have stricter void policies for certain prop bets.

Do Parlay Payouts Include Your Stake?

Yes. When sportsbooks display "payout" or "total return," this includes your original stake.

Clarification:

• Stake: $20
• Payout shown: $92.50
• Your profit: $72.50
• Total returned to you: $92.50 (profit + stake)

The "to win" or "profit" number is what you actually gain. The "payout" number is what you receive back if you win.

How Many Legs Can You Put in a Parlay?

Most US sportsbooks allow 2 to 12 legs in a standard parlay. Some books extend this to 15 or 20 legs for certain markets.

Typical limitations:

• Minimum: 2 legs
• Maximum: 10-20 legs depending on sportsbook and market type
• SGPs may have different leg limits than multi-game parlays

Minimum Odds Requirements

Some sportsbooks require each leg to meet a minimum odds threshold. Common minimums are -200 or -300. Heavy favorites below the threshold cannot be included in parlays.

Example policy:

Sportsbook requires minimum -300 per leg. A bet at -350 cannot be added to a parlay.

Same-Event Restrictions

Traditional parlays do not allow multiple bets from the same event. You cannot parlay Chiefs -7 with Chiefs moneyline in a standard parlay because both outcomes are from the same game.

This is where Same Game Parlays differ. SGPs specifically allow combining bets from one game but with adjusted odds.

Live Parlays and In-Game Use Cases

Live parlays let you combine in-game bets from ongoing events. As games progress, odds shift based on the score, time remaining, and game flow.

How live parlays work:

• Select live betting markets from games currently in progress
• Combine them into a parlay just like pre-game selections
• Odds update in real-time until you lock in your bet

Using the calculator for live parlays:

The OddsIndex parlay calculator works for live parlays the same way it works for pre-game parlays. Enter the live odds you see, calculate your potential payout, and decide if the bet makes sense.

Limitations to keep in mind:

• Live odds change rapidly during games
• The calculator shows results based on odds at the moment you entered them
• By the time you place the bet, odds may have shifted
• Fast markets like basketball can see significant swings in seconds

When live parlays make sense:

• You are watching games and have a strong read on momentum
• You want to hedge or build on a pre-game parlay that is partially winning
• You see value in adjusted lines after early game action

When to be cautious:

• Chasing losses with impulsive live parlays
• Adding legs without watching the game
• Betting on unfamiliar sports or leagues during live action

Live parlays add excitement but also add complexity. Make sure you understand the current game state before locking in live bets.

Are Parlays a Good Bet? Risk, Bankroll, and Safer Alternatives

The honest answer: parlays are high-risk entertainment bets that most bettors should approach carefully.

The appeal of parlays:

• Small stakes can return big payouts
• Combining multiple games makes watching more exciting
• The dream of hitting a long shot keeps bettors engaged

The reality of parlays:

• Most parlays lose
• The house edge compounds with each leg
• Near-misses feel painful and can lead to chasing losses
• Long-term expected value is typically negative

Expected value comparison:

A single bet at -110 has roughly 4.5% house edge. A 4-leg parlay at standard odds has roughly 17% house edge. You are paying a premium for the chance at a bigger payout.

Bankroll management principles for parlays:

1. Small stakes only: Risk 1-2% of your bankroll per parlay maximum
2. Limit leg count: 2-4 legs balances payout potential with reasonable hit rates
3. Avoid chasing: Losing parlays should not trigger larger parlays to recover
4. Set limits: Decide in advance how much you will risk on parlays per week or month
5. Track results: Know your win rate and whether parlays are profitable or draining your bankroll

Safer alternatives:

• Straight bets: Lower payouts but much higher hit rates and lower house edge
• Round robins: Partial protection when one leg loses
• Teasers: Move lines in your favor for reduced risk

Smart parlay habits:

• Always use the calculator before betting
• Compare your expected payout to the actual probability
• Do not let big payout numbers cloud your judgment
• Treat parlays as entertainment, not income
• Set a loss limit and stick to it

Frequently Asked Questions

How is a parlay payout calculated?

A parlay payout is calculated by converting each leg's American odds to decimal odds, multiplying all the decimal odds together, then multiplying by your stake. For example, two legs at -110 each convert to 1.909 decimal. Multiply 1.909 x 1.909 = 3.644. With a $50 stake: $50 x 3.644 = $182.20 total payout, which is $132.20 profit plus your $50 stake returned.

What is the formula for parlay odds?

The parlay odds formula multiplies the decimal equivalent of each leg. Convert American odds to decimal first: for negative odds, decimal = 1 + (100 / abs(odds)); for positive odds, decimal = 1 + (odds / 100). Then multiply all decimal values. The result is your parlay's decimal odds, which you can convert back to American format.

What happens if one leg of a parlay pushes?

If one leg pushes, most sportsbooks remove that leg and recalculate your parlay with the remaining legs. A 4-leg parlay becomes a 3-leg parlay. The pushed leg neither wins nor loses. Check your sportsbook's house rules because some books handle pushes differently.

Does a void bet kill a parlay?

Usually no. A voided bet is typically removed from the parlay just like a push. The remaining legs are recalculated at their combined odds. However, some sportsbooks have stricter policies for certain prop bets or markets. Always verify your book's void policy before betting.

Do parlay payouts include your stake?

Yes. When a sportsbook shows "payout" or "total return," this includes your original stake. To find your actual profit, subtract your stake from the total payout. Example: $150 payout on a $25 stake means $125 profit.

Can I use a parlay calculator for Same Game Parlays?

You can use it for a rough estimate, but the actual SGP price will differ. Standard parlay calculators assume independent legs. SGPs involve correlated outcomes from the same game, and sportsbooks adjust the odds accordingly. Always check the real SGP price on your sportsbook before betting.

Why are Same Game Parlay odds different?

SGP odds differ because the legs are correlated. If you parlay a team winning with their star player scoring heavily, both outcomes are more likely to happen together than independent math suggests. Sportsbooks reduce payouts to account for this positive correlation and take additional margin.

Are parlays a good bet?

Parlays are high-risk bets with a larger house edge than straight bets. They can be entertaining and offer big payouts from small stakes, but most parlays lose. For long-term profitability, straight bets typically offer better expected value. Treat parlays as entertainment with money you can afford to lose.

Is it better to bet parlays or round robins?

It depends on your risk tolerance. Parlays offer higher payouts but no protection if one leg loses. Round robins cost more to place but provide partial payouts when one leg misses. Risk-averse bettors often prefer round robins. Bettors chasing maximum return prefer straight parlays.

Responsible Gambling Notice

Parlays are high-risk bets with low win probabilities. The calculator helps you understand your risk and potential reward, but it does not guarantee profits or predict outcomes. All betting involves the chance of losing money.

Key reminders:

• Only bet what you can afford to lose
• Set time and money limits before you start betting
• Never chase losses with bigger or longer parlays
• Take breaks if betting stops being fun
• Sports betting should be optional, affordable, and entertaining

Age requirements:

Sports betting is legal for adults 21+ in most regulated US states. Some states have different age minimums. Always verify your state's requirements.

State availability:

Sports betting laws vary by state. Not all markets and features are available in all states. Check your sportsbook's terms and local regulations.

If you need help:

If betting is affecting your finances, relationships, or mental health, help is available. Contact the National Council on Problem Gambling (NCPG) at 1-800-522-4700 or visit ncpgambling.org for confidential support.