Parlay Odds Calculator & Payout Chart

A parlay odds calculator is the fastest way to check what your multi-leg bet will pay before placing your wager. Whether you are combining NFL point spreads, NBA moneylines, or MLB totals, this tool shows you the combined odds, total payout, and implied probability in seconds. No mental math, no guesswork, and no surprises when you check your bet slip.

This page is your complete parlay maths hub. Beyond the calculator itself, you will find detailed payout charts showing what standard parlays return at common odds, step-by-step formulas explaining how parlay odds actually work, and honest coverage of why Same Game Parlay odds differ from what calculators show. We also cover what happens when legs push or void, how the house edge compounds across parlay legs, and strategic guidance on when parlays make sense versus when you should consider single bets instead.

Parlay betting is one of the most popular ways to wager on sports in the United States. The appeal is obvious: combine multiple picks into one bet and watch potential payouts multiply. A winning 3-leg parlay at standard odds pays roughly 6 times your stake, while a 5-leg parlay can return over 25 times what you risked. These numbers look attractive, and sportsbooks know it. That is why parlay betting generates billions in handle annually across legal US markets.

But here is what the headline payouts do not tell you: the probability of winning drops dramatically with each leg you add. A 3-leg parlay at -110 odds has roughly a 14 percent chance of hitting. By the time you reach 5 legs, your win probability falls below 4 percent. At 10 legs, you are looking at less than a 0.2 percent chance of success. Understanding these trade-offs is essential before you place any parlay bet.

If you are brand new to parlays, start with our complete parlay betting guide to understand the fundamentals. For a streamlined calculator experience without the full guide, visit our dedicated parlay calculator tool page. You can also access the full-screen parlay calculator directly if you just need to crunch numbers quickly.

A quick note on risk: Parlays are high-variance, all-or-nothing bets. The potential payouts look attractive, but the probability of winning drops significantly with each leg you add. Every single leg must win for your parlay to pay out. One loss, and your entire stake is gone. This calculator helps you understand your risk and reward clearly before you bet. It does not remove the house edge or guarantee winning outcomes. Bet responsibly and within your limits.

Use the calculator below to see your payout in seconds, then explore the rest of this guide for payout charts, maths explanations, and strategic tips that can help you make more informed decisions.

Parlay Odds Calculator: Work Out Your Payout in Seconds

Our parlay odds calculator takes the complexity out of multi-leg betting. Enter your odds for each leg, input your stake, and instantly see what you stand to win. The calculator supports American odds format and shows you the combined parlay odds, implied probability of all legs hitting, total payout if successful, and your net profit. Everything updates in real time as you adjust your inputs.

What the parlay calculator shows you:

• Combined Parlay Odds: Your total odds in American format after multiplying all legs together. This tells you the effective price of your entire parlay as a single bet.
• Implied Probability: The mathematical chance of hitting every leg, expressed as a percentage. This number helps you understand how unlikely your parlay is to win.
• Total Payout: The amount returned to you if all legs win, including your original stake. This is what lands in your account when the parlay hits.
• Profit: Your net winnings after subtracting your stake. This is the actual money you gain on top of getting your original bet back.

The calculator performs all conversions automatically. You do not need to convert American odds to decimal format yourself or multiply anything manually. Simply enter the American odds from your sportsbook exactly as shown (like -110 or +150), and the calculator handles the rest. This eliminates human error and gives you accurate results every time.

This tool assumes each leg is independent, meaning the outcome of one does not affect the others. For traditional multi-game parlays where you pick winners from different matchups, this assumption holds true and the calculator results will match your sportsbook slip closely. For Same Game Parlays where selections come from the same event, actual sportsbook pricing will differ from calculator results because of correlation between outcomes. We explain this important distinction in detail later in this guide.

Important reminder: A parlay calculator helps you understand payouts. It does not predict outcomes or remove the inherent risk of parlay betting. Parlays have a higher house edge than single bets, and most bettors lose money on parlays over time. The calculator shows you the mathematical reality of your bet. Use this tool to make informed decisions, not to chase unrealistic payouts or convince yourself that a long-shot parlay is a good idea.

How to Use the OddsIndex Parlay Odds Calculator

Getting accurate parlay payouts takes just a few seconds once you understand how the calculator works. Here is a step-by-step guide to using the calculator effectively, along with tips for getting the most out of the tool.

Step 1: Enter your first leg odds

Input the American odds for your first selection. For favorites, enter negative odds like -110 or -150. For underdogs, enter positive odds like +120 or +200. The calculator will process both formats correctly. Make sure you enter the odds exactly as shown on your sportsbook, including the plus or minus sign.

Step 2: Add additional legs

Click to add more legs and enter the American odds for each selection. You can add anywhere from 2 to 15 legs depending on your parlay structure. Most sportsbooks allow parlays up to 10-15 legs, though some extend this even further. Remember that every leg you add increases potential payout but decreases your probability of winning. The calculator updates automatically as you add legs, so you can see how each addition affects your total odds and payout.

Step 3: Enter your stake amount

Input how much you want to wager on the parlay. The calculator will show payouts based on this stake, making it easy to scale up or down to see how different bet sizes affect your potential returns. Try entering different stake amounts to understand the risk-reward profile at various bet sizes.

Step 4: Review your results

The calculator displays your combined odds, implied probability, total payout, and profit. Use these numbers to assess whether the risk-reward profile makes sense for your situation. Pay particular attention to the implied probability, which tells you how often this parlay would need to win for the bet to break even.

What each output means:

• Combined odds tell you the effective price of your entire parlay in American format. A result of +595 means a 100 dollar bet would return 595 dollars in profit plus your original stake.
• Implied probability shows the mathematical likelihood of all legs winning. This is calculated from the combined odds and represents your break-even win rate.
• Total payout is what you receive back if you win, including your original stake. This is the number that appears in your sportsbook account.
• Profit is your net winnings after accounting for your stake. This is the actual gain from a winning parlay.

You can adjust odds, add or remove legs, and change your stake without reloading the page. This makes it easy to compare different parlay structures and find the combination that fits your betting approach. Try experimenting with different leg counts and odds combinations to see how they affect your potential returns.

Example: 50 Dollar 3-Leg NFL Parlay at -110

Let us walk through a concrete example that you might encounter on a typical NFL Sunday. You want to bet a 3-leg NFL parlay where each leg is a standard point spread at -110 odds. Your stake is 50 dollars.

Your legs:

• Chiefs -3.5 at -110
• Bills -7 at -110
• Eagles -2.5 at -110

Calculator inputs:

• Leg 1: -110
• Leg 2: -110
• Leg 3: -110
• Stake: 50 dollars

How the maths works:

First, convert each American odds to decimal format. For -110 odds, the decimal equivalent is 1.909. The conversion formula for negative American odds is: Decimal = (100 / Absolute Value of American Odds) + 1. So -110 becomes (100 / 110) + 1 = 0.909 + 1 = 1.909.

Multiply all decimal odds together: 1.909 x 1.909 x 1.909 = 6.95 (rounded)

This means a 50 dollar stake returns approximately 347.50 dollars total, which includes your original 50 dollar stake plus 297.50 dollars in profit.

The implied probability of hitting all three legs is approximately 14.4 percent, calculated as 1 divided by 6.95 equals 0.144. In practical terms, this parlay would hit roughly once every seven attempts if each leg truly had a 50 percent chance of winning.

Key takeaway: A 3-leg parlay at standard -110 odds roughly multiplies your stake by 6x to 7x if successful. But you only have about a 1-in-7 chance of winning. The bigger payout comes with significantly higher risk compared to three separate single bets. If you bet 50 dollars on each game individually and won all three, you would profit about 136 dollars total (45.45 dollars profit per bet times three). The parlay pays more than double that amount, but only if all three hit.

Example: Mixed Odds 4-Leg Parlay

Real parlays often mix different odds rather than using uniform -110 lines. Here is a more realistic example with varied American odds across four legs.

Your legs:

• Leg 1: NFL spread at -110
• Leg 2: NBA moneyline favorite at -150
• Leg 3: MLB underdog at +130
• Leg 4: NFL total at -105

Calculator inputs and conversions:

• Leg 1: -110 = 1.909 decimal
• Leg 2: -150 = 1.667 decimal
• Leg 3: +130 = 2.300 decimal
• Leg 4: -105 = 1.952 decimal

Combined decimal odds: 1.909 x 1.667 x 2.300 x 1.952 = 14.29

A 25 dollar stake returns approximately 357 dollars total (332 dollars profit). The implied probability is about 7 percent, meaning this parlay would hit roughly once every 14 attempts under fair conditions.

Notice how the underdog leg at +130 significantly boosts the parlay payout. Including one or two underdog selections can meaningfully increase returns compared to a parlay of all favorites, though it also affects your overall win probability in complex ways depending on whether those underdogs represent good value.

Parlay Payout Chart: Quick Reference Tables

Payout charts give you a quick reference for what standard parlays return at common odds. These tables assume all legs are at -110, which is the standard juice on NFL and NBA point spreads and totals. Use them as a cheat sheet when planning your bets or comparing different parlay structures.

Understanding these payout tables helps you quickly assess whether a parlay makes sense for your situation. You can see at a glance how payouts scale with additional legs and how dramatically win probability falls as you add more selections.

Standard -110 Spread Parlay Payout Table

The following table shows payouts for parlays with 2 to 15 legs, assuming all legs are at -110 odds. Payouts are shown for 10 dollar, 50 dollar, and 100 dollar stakes. The win probability column assumes each individual leg has a 50 percent true probability of winning.

Legs	Decimal Odds	American Odds	10 Dollar Payout	50 Dollar Payout	100 Dollar Payout	Win Probability
2	3.64	+264	36.40	182.00	364.00	27.4%
3	6.95	+595	69.50	347.50	695.00	14.4%
4	13.27	+1227	132.70	663.50	1,327.00	7.5%
5	25.33	+2433	253.30	1,266.50	2,533.00	3.9%
6	48.36	+4736	483.60	2,418.00	4,836.00	2.1%
7	92.33	+9133	923.30	4,616.50	9,233.00	1.1%
8	176.26	+17526	1,762.60	8,813.00	17,626.00	0.57%
9	336.46	+33546	3,364.60	16,823.00	33,646.00	0.30%
10	642.39	+64139	6,423.90	32,119.50	64,239.00	0.16%
11	1,226.42	+122542	12,264.20	61,321.00	122,642.00	0.08%
12	2,341.24	+234024	23,412.40	117,062.00	234,124.00	0.04%
13	4,469.44	+446844	44,694.40	223,472.00	446,944.00	0.02%
14	8,531.98	+853098	85,319.80	426,599.00	853,198.00	0.01%
15	16,287.53	+1628653	162,875.30	814,376.50	1,628,753.00	0.006%

How to read this table: Find the number of legs in your parlay, then look across to see what different stake amounts would return. The win probability column shows your mathematical chance of hitting all legs, assuming each individual leg has a 50 percent true probability (which is what -110 odds imply after removing the vig).

Notice how quickly payouts grow and how rapidly win probability falls. A 5-leg parlay pays roughly 25x your stake, but you only win about 4 percent of the time. A 10-leg parlay offers massive 640x returns, but your realistic chance of hitting is less than 1 in 600. By the time you reach 15 legs, you are looking at over 16,000x returns but a win probability of roughly 1 in 16,000.

Scaling for different stakes: To calculate payouts for stakes not shown in the table, simply multiply your stake by the decimal odds. For example, a 75 dollar 5-leg parlay at -110 would return 75 x 25.33 = 1,899.75 dollars.

The Parlay Payout Matrix above shows standard payouts for 2-15 leg parlays at -110 odds across common stake amounts. Bookmark this page for quick reference during your betting sessions. Keep in mind these figures are illustrative - actual payouts vary based on your specific odds, sportsbook pricing, and any correlation adjustments for Same Game Parlays.

Moneyline Parlay Payout Examples

Not all parlays use standard -110 odds. Moneyline parlays often mix favorites and underdogs at various prices, resulting in different payout structures. Here are examples showing how different odds combinations affect payouts.

Example 1: 3-Leg Heavy Favorite Moneyline Parlay

Leg	Selection	American Odds	Decimal Odds
1	Team A ML	-150	1.667
2	Team B ML	-130	1.769
3	Team C ML	-200	1.500

Combined decimal odds: 1.667 x 1.769 x 1.500 = 4.42

A 50 dollar stake returns 221 dollars total (171 dollars profit). The implied probability is 22.6 percent. This parlay of favorites offers lower returns but higher win probability compared to standard -110 parlays.

Example 2: 3-Leg Mixed Moneyline Parlay with Underdog

Leg	Selection	American Odds	Decimal Odds
1	Team A ML	-110	1.909
2	Team B ML	+150	2.500
3	Team C ML	-180	1.556

Combined decimal odds: 1.909 x 2.500 x 1.556 = 7.43

A 50 dollar stake returns 371.50 dollars total (321.50 dollars profit). The implied probability is 13.5 percent.

Adding one underdog leg significantly boosts the payout compared to an all-favorites parlay. This is why some bettors look for value underdogs to include in their parlays rather than stacking heavy favorites. However, the lower implied probability of the underdog also reduces your overall chance of hitting the parlay.

Example 3: 4-Leg Underdog-Heavy Parlay

Leg	Selection	American Odds	Decimal Odds
1	Team A ML	+120	2.200
2	Team B ML	+140	2.400
3	Team C ML	-105	1.952
4	Team D ML	+110	2.100

Combined decimal odds: 2.200 x 2.400 x 1.952 x 2.100 = 21.64

A 25 dollar stake returns 541 dollars total (516 dollars profit). The implied probability is 4.6 percent. This underdog-heavy approach offers strong payouts but requires multiple unlikely outcomes to align.

How Parlay Odds Are Calculated: Step-by-Step Maths

Understanding the math behind parlay odds helps you verify calculator results, spot errors on your bet slips, and make better decisions about which parlays to place. The core concept is straightforward: multiply the decimal odds of each leg together to get your total parlay odds. Everything else flows from this fundamental principle.

The basic formula:

Total Parlay Decimal Odds = Leg 1 Decimal Odds x Leg 2 Decimal Odds x Leg 3 Decimal Odds x ... and so on

Once you have the total decimal odds, you can convert back to American format, calculate payouts for any stake amount, and determine implied probability. The calculator automates all of these steps, but knowing how to do them manually helps you understand what the numbers really mean.

For a deeper exploration of parlay mathematics including advanced scenarios, edge cases, and alternative calculation methods, see our detailed guide on how to calculate parlay odds manually.

Converting American Odds to Decimal and Back

American odds need to be converted to decimal format before you can multiply them together. The conversion formulas differ for positive and negative American odds, so you need to identify which type you are working with first.

For negative American odds (favorites):

Decimal Odds = (100 / Absolute Value of American Odds) + 1

Example: -110 becomes (100 / 110) + 1 = 0.909 + 1 = 1.909

Example: -150 becomes (100 / 150) + 1 = 0.667 + 1 = 1.667

Example: -200 becomes (100 / 200) + 1 = 0.500 + 1 = 1.500

Example: -300 becomes (100 / 300) + 1 = 0.333 + 1 = 1.333

For positive American odds (underdogs):

Decimal Odds = (American Odds / 100) + 1

Example: +120 becomes (120 / 100) + 1 = 1.20 + 1 = 2.200

Example: +150 becomes (150 / 100) + 1 = 1.50 + 1 = 2.500

Example: +200 becomes (200 / 100) + 1 = 2.00 + 1 = 3.000

Example: +300 becomes (300 / 100) + 1 = 3.00 + 1 = 4.000

Converting decimal back to American:

If decimal odds are 2.00 or higher (underdog): American = (Decimal - 1) x 100

If decimal odds are below 2.00 (favorite): American = -100 / (Decimal - 1)

Example: 2.50 decimal becomes (2.50 - 1) x 100 = +150 American

Example: 1.667 decimal becomes -100 / (1.667 - 1) = -100 / 0.667 = -150 American

From Single-Leg Odds to Total Parlay Payout

Let us work through a complete 4-leg parlay calculation from start to finish, showing every step so you can replicate this process for any parlay.

Your selections:

• Leg 1: -110 (decimal 1.909)
• Leg 2: -105 (decimal 1.952)
• Leg 3: +120 (decimal 2.200)
• Leg 4: -130 (decimal 1.769)

Step 1: Convert all American odds to decimal

We already have these conversions above. Double-check each one using the formulas to ensure accuracy.

Step 2: Multiply decimal odds together

1.909 x 1.952 x 2.200 x 1.769 = 14.51

Step 3: Calculate payout for your stake

For a 25 dollar stake: 25 x 14.51 = 362.75 dollars total return

Profit = 362.75 - 25 = 337.75 dollars

Step 4: Convert combined decimal odds to American format

Since 14.51 is greater than 2.00, use the underdog formula:

American = (14.51 - 1) x 100 = +1351

Step 5: Calculate implied probability

Implied probability = 1 / 14.51 = 0.069 = 6.9 percent

This means you have roughly a 1-in-14 chance of winning this parlay if each leg represents fair value. Use the calculator to verify these results match, then explore our detailed guide on how to calculate parlay odds manually for additional examples and edge cases.

Calculating Implied Probability for Risk Assessment

Implied probability is one of the most useful outputs from parlay calculations because it tells you how often your bet needs to win to break even. This helps you assess whether a parlay represents reasonable risk for your situation.

The formula:

Implied Probability = 1 / Decimal Odds

For a 3-leg parlay at 6.95 decimal odds: 1 / 6.95 = 0.144 = 14.4%

This means the parlay needs to win at least 14.4 percent of the time to break even over the long run. If you believe your actual chance of hitting all three legs is higher than 14.4 percent, the parlay has positive expected value. If lower, you are accepting negative expected value for the entertainment or potential big payout.

Same Game Parlays vs Standard Parlays: Why the Odds Do Not Match

A Same Game Parlay (SGP) combines multiple selections from the same event into one bet. For example, you might parlay Patrick Mahomes over 275 passing yards with Travis Kelce over 75 receiving yards in the same Chiefs game. This differs from a traditional parlay where each leg comes from a different game entirely.

The critical difference is correlation. In a standard multi-game parlay, the outcomes are independent. Whether the Chiefs cover their spread has no bearing on whether the Bills cover their spread in a separate game. The calculator assumes independence and simply multiplies the odds together, which gives accurate results.

In a Same Game Parlay, outcomes are often correlated. If Mahomes goes over his passing yards, Kelce is more likely to go over his receiving yards because they are connected in the same offensive scheme. The quarterback throws to the tight end, so their stats move together. Sportsbooks adjust SGP pricing to account for this correlation, which is why SGP slip odds almost never match what a standard parlay calculator shows.

Why SGP odds differ from calculator results:

1. Positive correlation: When legs tend to win or lose together, the true probability of hitting both is higher than if they were independent. Books reduce the payout to reflect this reality. You are not getting credit for two independent events because they are not truly independent.

2. Negative correlation: Some combinations are negatively correlated (if one hits, the other becomes less likely). For example, a running back going over his rushing yards might negatively correlate with the team total under. Books adjust odds in either direction depending on the specific selections and their relationship.

3. Additional margin: Beyond correlation adjustments, sportsbooks often build extra margin into SGP pricing because these products carry higher risk for the book and are extremely popular with recreational bettors. The book knows SGPs are entertaining, so they can charge more.

Example of correlation in action:

Consider a Chiefs vs Raiders game where you parlay:

• Chiefs to win
• Chiefs over 24.5 team total

These are positively correlated. If the Chiefs score over 24.5 points, they are significantly more likely to win the game. A calculator treating these as independent might show +180 combined odds, but the sportsbook might price the SGP at +140 or +150 to account for the correlation. You are not being offered fair odds for two independent events because the events are not independent.

For a deep dive into SGP strategy, correlation concepts, how to identify value in same game parlays, and when to avoid them entirely, see our Same Game Parlay explained guide.

Common SGP Calculator vs Sportsbook Discrepancies

Here are typical scenarios where you will see meaningful differences between calculator results and actual SGP pricing:

Quarterback passing yards + team to win: Strongly positively correlated. When a quarterback throws for big yardage, their team usually wins. SGP odds will be notably lower than calculator suggests.

Star player points + team to cover spread: Positively correlated, especially for volume scorers. When the team's best player goes off, the team tends to perform well. Expect reduced SGP odds.

Pitcher strikeouts + team to win: Moderately correlated in baseball. Good strikeout pitchers often help their teams win by limiting opponent offense. Books adjust accordingly.

Player rushing yards + game total under: Potentially negatively correlated in some contexts. If rushing is dominating the game, possessions take longer and fewer total points are scored. This can work in your favor depending on the book's pricing.

Wide receiver receiving yards + quarterback passing yards over: Strongly positively correlated. The receiver's yards are a subset of the quarterback's yards. Expect heavy adjustment.

The takeaway is that our parlay calculator gives you a true odds reference point based on independent outcomes. Use it to understand the mathematical baseline, then compare to sportsbook SGP pricing to see how much correlation and margin the book is building in. When SGP odds are significantly worse than the calculator suggests, consider whether the convenience of an SGP is worth the reduced value, or whether you should bet the legs separately across different games.

What Happens When a Leg Pushes, Voids or Is Cancelled

Not every leg resolves as a win or loss. Sometimes games push to the exact spread number, get postponed, or a player does not participate. Understanding how sportsbooks handle these situations helps you anticipate what happens to your parlay payout and avoid unpleasant surprises.

General push rule:

When a leg pushes (ties the spread or total exactly), most sportsbooks remove that leg from the parlay and recalculate your payout based on the remaining legs. A 4-leg parlay with one push becomes a 3-leg parlay at reduced odds. Your stake remains the same, but your potential payout drops because you effectively have fewer legs working for you.

Voided legs:

If a game is postponed, cancelled, or a player prop selection does not play, that leg is typically voided. Like pushes, voided legs are removed from the parlay and odds are recalculated. The remaining legs still need to win for the parlay to pay out.

Important variations by sportsbook:

Different sportsbooks have different house rules, and these can significantly affect your parlay outcomes. Some books treat pushes as losses for certain parlay types, particularly in fixed-odds parlay cards or promotional parlays. Others may void the entire parlay if a key leg is cancelled before kickoff. Some books have different rules for pre-game versus live parlays. Always check your sportsbook's parlay rules before placing significant bets.

Common scenarios and typical outcomes:

• Point spread pushes at the number: Chiefs -3 wins by exactly 3 points. Leg is pushed, parlay reduces by one leg. Most books handle this the same way.
• Total lands exactly on the number: Game total is 47, and the final combined score is exactly 47. Over and under bets push. Parlay reduces.
• Game postponed: NFL game moved to Tuesday due to weather. Most books void the leg and recalculate. Some may void the entire parlay depending on timing.
• Player does not play (DNP): You bet on a player prop and the player is scratched from the lineup. Leg typically voided. Rules vary by book and sport.
• Tennis retirement: One player retires mid-match. Rules vary significantly by book and market. Some void, some grade based on progress.
• Soccer own goal: You bet on a player to score anytime and an opponent scores an own goal. Does not count for your player. Leg is not affected.

Example: 4-Leg Parlay With One Push

You bet a 50 dollar 4-leg parlay at the following odds:

• Leg 1: -110 (Chiefs -3)
• Leg 2: -110 (Bills -7)
• Leg 3: -110 (Eagles -2.5)
• Leg 4: -110 (Cowboys +4)

Original parlay decimal odds: 1.909 x 1.909 x 1.909 x 1.909 = 13.27 Original potential payout: 50 x 13.27 = 663.50 dollars

The Cowboys game lands exactly on 4 points (Cowboys lose by 4), so the Cowboys +4 bet pushes.

After push adjustment:

The parlay becomes a 3-leg parlay with legs 1, 2, and 3 only. New parlay decimal odds: 1.909 x 1.909 x 1.909 = 6.95 Adjusted potential payout: 50 x 6.95 = 347.50 dollars

Your payout is now significantly lower because you effectively have a 3-leg parlay instead of a 4-leg parlay. The calculator shows payouts based on the legs you enter. If a leg pushes after you bet, mentally recalculate or check your sportsbook app for the adjusted payout. Most apps will update your open bet slip to reflect the new odds automatically.

True Odds vs Book Odds: Why Parlays Are Priced the Way They Are

Every bet at a sportsbook includes built-in margin for the house, commonly called the vig or juice. On a standard -110/-110 spread bet, the combined vig means the book keeps around 4.5 percent of total action as profit over time. This house edge compounds across parlay legs, making parlays even more expensive in expected value terms than single bets.

Understanding this relationship between true odds and book odds is essential for making informed parlay decisions. Our expected value calculator and vig and true odds calculator can help you quantify these effects for specific bets.

How vig compounds in parlays:

Consider a 50/50 coin flip. True odds would be +100 on each side (2.00 decimal). But sportsbooks price spreads at -110 on both sides, taking their cut. Each side has an implied probability of 52.4 percent, but the true probability is 50 percent each. That 2.4 percent gap per side is how the house makes money.

For a single bet at -110, you need to risk 110 dollars to win 100 dollars. The implied probability is 52.4 percent, but the true probability is 50 percent. That 2.4 percent gap is the house edge on each individual bet.

When you parlay multiple legs, the vig compounds. Here is how it breaks down:

Legs	Book Payout (at -110)	Fair Payout (no vig)	Effective House Edge
2	3.64x	4.00x	9.0%
3	6.95x	8.00x	13.1%
4	13.27x	16.00x	17.1%
5	25.33x	32.00x	20.8%
6	48.36x	64.00x	24.4%
8	176.26x	256.00x	31.2%
10	642.39x	1,024.00x	37.3%

The more legs, the worse the value:

Each leg adds another layer of vig. By the time you reach 8-10 legs, you are giving up 30-40 percent in expected value compared to true fair odds. This is why professional bettors rarely bet parlays, and when they do, they keep leg counts low and only include legs they believe have positive expected value individually.

The math is unforgiving. Even if you are a skilled handicapper who wins 55 percent of your individual bets, parlays erode that edge through compounding vig. A 55 percent bettor making single bets has a solid edge. The same bettor making 5-leg parlays is fighting a much steeper uphill battle.

Example: 3-Leg vs 6-Leg Parlay With Vig

3-leg parlay at -110:

• Book payout: 6.95x
• Fair payout (no vig): 8.00x
• You are giving up: 13.1 percent in expected value
• To break even, you need to hit 14.4% of the time, but fair odds suggest 12.5%

6-leg parlay at -110:

• Book payout: 48.36x
• Fair payout (no vig): 64.00x
• You are giving up: 24.4 percent in expected value
• To break even, you need to hit 2.1% of the time, but fair odds suggest 1.56%

The 6-leg parlay looks more exciting because of the bigger number, but you are accepting almost double the house edge compared to the 3-leg parlay. The sportsbook is keeping a much larger share of the theoretical action on long parlays.

For tools that help you calculate true odds and understand vig across different bet types, explore our expected value calculator and vig and true odds calculator. Understanding the true cost of your bets is essential for long-term success in sports betting.

Sport-Specific Parlay Examples: NFL, NBA, MLB and More

The parlay calculator works the same way regardless of sport. You enter American odds and get combined payout calculations. But different sports have different common bet types, odds structures, and strategic considerations. Here are sport-specific examples to illustrate how parlays work across major US sports.

NFL Parlay Examples

NFL is the most popular sport for parlay betting in the United States. Standard spreads and totals are priced at -110, making payout calculations predictable. NFL Same Game Parlays are also extremely popular, combining outcomes like team spreads with player props from the same game.

Example: 3-Leg NFL Sunday Parlay

Leg	Selection	Odds
1	Chiefs -3.5	-110
2	49ers/Cardinals Over 47.5	-110
3	Bills -7	-110

Combined odds: +595 (6.95x) 50 dollar stake returns 347.50 dollars

NFL parlays often focus on spreads and totals because moneylines for favorites can be expensive (-200 or worse), significantly reducing parlay value. A 3-leg parlay of -200 favorites only pays about 2.4x your stake, which many bettors find unappealing compared to the risk.

NFL SGP considerations: When building NFL Same Game Parlays, be aware that quarterback stats, receiver stats, and team performance are often correlated. Sportsbooks adjust pricing accordingly, so calculator results will not match SGP slip odds.

NBA Parlay Examples

NBA offers fast-paced action with many games per night, creating numerous parlay opportunities. Spreads and totals are typically -110, similar to NFL. Player prop parlays are popular given the individual statistics tracked in basketball and the star-driven nature of the sport.

Example: 3-Leg NBA Parlay

Leg	Selection	Odds
1	Lakers -4.5	-110
2	Celtics/Heat Over 215.5	-110
3	Warriors ML	-145

Combined odds: +460 (5.60x) 50 dollar stake returns 280 dollars

The Warriors moneyline at -145 is a heavier favorite than the standard -110, which lowers the overall parlay payout compared to three -110 legs. This illustrates how mixing in heavy favorites reduces parlay returns.

NBA SGP considerations: Player points, rebounds, and assists often correlate with game pace and team performance. A high-scoring game means more opportunities for individual stats. Books price NBA SGPs with these correlations in mind.

MLB Parlay Examples

MLB differs from NFL and NBA because moneyline betting dominates. Spreads (run lines at -1.5 or +1.5) exist but are less commonly parlayed because the standard 1.5-run spread creates high variance outcomes. Moneylines vary widely based on pitching matchups, from -300 favorites to +200 underdogs on any given day.

Example: 3-Leg MLB Moneyline Parlay

Leg	Selection	Odds
1	Yankees ML	-160
2	Dodgers ML	-180
3	Braves ML	-140

Combined odds: +170 (2.70x) 50 dollar stake returns 135 dollars

Notice how the heavy favorites significantly reduce parlay value. Three MLB favorite moneylines barely pay better than 2-to-1. This is why some MLB bettors look for underdog value or stick to single bets rather than stacking favorites in parlays. A single upset ruins the entire ticket while offering minimal upside.

MLB considerations: Baseball has more variance than other major sports due to the nature of the game. Even heavy favorites lose regularly. This makes MLB parlays particularly risky compared to NFL or NBA parlays of similar length.

Strategy: When Parlays Make Sense and When to Avoid Them

Parlays are mathematically disadvantaged compared to single bets. The house edge compounds with each leg, and you must hit every selection to win anything. So when, if ever, should you bet parlays? The answer depends on your goals, bankroll, and approach to sports betting.

When parlays can make sense:

1. Small stakes entertainment: If you want to add excitement to a Sunday slate with a 10 or 20 dollar bet, a 3-leg parlay offers big payout potential for minimal risk. Think of it as entertainment budget, not investment strategy. The potential 6x or 7x return adds excitement to watching multiple games without risking significant money.

2. Promotional value: Some sportsbooks offer parlay insurance, profit boosts, or odds improvements that can offset some of the built-in house edge. If a promo makes the expected value neutral or positive, parlays become more reasonable. Always read the terms carefully and calculate whether the boost actually helps.

3. Correlated legs that books underprice: Occasionally, SGP or parlay pricing does not fully account for positive correlation between outcomes. Sharp bettors sometimes exploit these edges, though they are rare and require significant analysis to identify.

4. Capping total risk: Parlaying two strong picks for 20 dollars caps your downside at 20 dollars while providing 5-6x upside. Betting 40 dollars across two singles risks 40 dollars but only returns about 36 dollars profit each if both win. The parlay structure can make sense if you want limited exposure with higher upside.

5. Specific bankroll situations: If you have a small bankroll and want a chance at a meaningful win, a well-constructed 2-3 leg parlay can offer better entertainment value than grinding small single bets.

When to avoid parlays:

1. Serious bankroll growth goals: If you are trying to grow a betting bankroll long-term, single bets with positive expected value are the proven path. Parlays drain bankrolls faster due to higher house edge. Professional bettors overwhelmingly focus on singles.

2. Overloading legs for big payouts: Adding a 5th or 6th leg because it makes the payout look exciting is usually a mistake. Each marginal leg adds risk faster than it adds value. The house edge compounds significantly.

3. Including legs you would not bet individually: If you would not bet a selection as a single because you do not like the value, do not add it to a parlay just to boost odds. Weak legs sink parlays.

4. Chasing losses: Using parlays to try to recover from losing streaks is a fast path to bigger losses. The low hit rate means you are likely to lose more before winning.

Hedging parlays:

When you hit several legs and have one remaining, you can sometimes hedge by betting the opposite side of your final leg. This locks in profit regardless of outcome at the cost of reducing your maximum upside. Our hedge calculator guide explains when and how to hedge effectively, including the math for determining optimal hedge amounts.

Common Parlay Mistakes to Avoid

1. Chasing lottery tickets: 10+ leg parlays offer huge payouts but have win rates under 0.1 percent. Treat these as extreme entertainment with money you are comfortable losing, not realistic bets with expected positive outcomes.

2. Ignoring correlation in SGPs: Stacking correlated legs feels smart but often destroys value because books adjust pricing heavily. You think you found a connection, but the book saw it first.

3. Betting parlays with vig-heavy legs: Legs priced at -120 or worse eat into parlay value significantly. The vig compounds faster with juiced lines. Stick to -110 or better when possible.

4. Not shopping parlay odds: Different books offer different parlay payouts. A few percentage points difference compounds across legs. Some books are known for better parlay pricing than others.

5. Overcommitting bankroll: Parlays should be a small percentage of your betting activity, not the core strategy. Most successful bettors allocate 10 percent or less of their action to parlays.

6. Ignoring push/void rules: Not understanding how your book handles pushes can lead to surprise reduced payouts. Read the rules before betting.

7. Emotional parlay building: Adding your favorite team or a gut feel pick ruins disciplined analysis. Every leg should stand on its own merits.

8. Never tracking results: Most bettors do not track parlay ROI separately from singles. You might discover you are losing more on parlays than you realize, which should inform your strategy.

Frequently Asked Questions

How are parlay odds calculated?

Parlay odds are calculated by converting each leg to decimal format and multiplying them together. For example, three legs at -110 (1.909 decimal each) multiplied together equals 6.95 total decimal odds, or +595 in American format. The calculator automates this process instantly, handling the conversions and multiplication for you.

What is the formula for a parlay payout?

Total Payout = Stake x Combined Decimal Odds. First convert American odds to decimal for each leg, multiply all legs together to get combined decimal odds, then multiply by your stake. For a 50 dollar bet at combined decimal odds of 6.95, payout is 50 x 6.95 = 347.50 dollars total return.

How much does a 100 dollar 3-team parlay pay at -110?

At -110 odds per leg, a 3-team parlay has combined decimal odds of approximately 6.95. A 100 dollar stake returns about 695 dollars total, including your original stake. Your profit would be 595 dollars. This assumes all three legs win.

What happens if one leg pushes in a parlay?

When a leg pushes, most sportsbooks remove that leg and recalculate payout based on remaining legs. A 4-leg parlay with one push becomes a 3-leg parlay at reduced odds and lower payout. Always check your specific sportsbook's rules, as some books handle pushes differently for certain parlay types.

Why are my same game parlay odds different from the calculator?

Same Game Parlay legs are often correlated, meaning outcomes influence each other. When a quarterback goes over his passing yards, his receivers are more likely to hit their receiving props. Sportsbooks adjust SGP pricing to account for this correlation plus additional margin. A standard parlay calculator assumes independent outcomes, which is why results differ.

Is it better to bet parlays or single bets?

For long-term expected value, single bets are mathematically superior because the house edge does not compound across multiple legs. Parlays can be entertaining for small stakes but carry higher risk and worse odds. Most successful professional bettors avoid parlays or use them sparingly for entertainment.

Can I use this calculator for NFL, NBA and MLB parlays?

Yes. The calculator works for any sport using American odds. Enter the odds from your NFL spreads, NBA totals, MLB moneylines, or any other market. The math is the same regardless of sport. The only caveat is Same Game Parlays, where correlation affects actual sportsbook pricing.

Responsible Gambling Notice

Parlays are among the highest-variance bets in sports betting. The attractive payouts come with low win probabilities and a higher house edge than single bets. Before placing any parlay, understand these realities and bet accordingly.

Key points to remember:

• Most parlays lose. Even skilled bettors win parlays at low rates due to the all-or-nothing structure.
• The house edge compounds with each leg. More legs means worse expected value and a steeper climb to profitability.
• Chasing losses with bigger parlays rarely works and often accelerates losses. If you are on a losing streak, parlays are not the solution.
• Entertainment budgets should be separate from serious bankroll management. Treat parlay money as entertainment expense.
• Set limits before you bet. Decide how much you are willing to lose and stick to that number.
• If betting stops being fun or you are betting more than you can afford to lose, seek help.

Sports betting should be entertainment, not a source of stress or financial hardship. The parlay calculator helps you understand your bets, but it cannot make losing bets into winning ones. Use the information in this guide to make informed decisions and bet responsibly.