OddsCalc

Parlay Calculator

Multiply the odds, multiply the risk.

Stake ($)

American Odds (one per line)

Profit

$615.91

Combined Decimal Odds: 7.159
Total Payout: $715.91

What you entered

Stake: $100Legs: 3 selections

1
Leg 1: convert -110 to decimal
(100/110)+1= 1.9091
2
Leg 2: convert +150 to decimal
(150/100)+1= 2.5
3
Leg 3: convert -200 to decimal
(100/200)+1= 1.5
4
Combined decimal odds
1.9091 x 2.5 x 1.5= 7.1591
5
Payout = stake x combined odds
$100 x 7.1591= $715.9091
6
Profit = payout - stake
$715.9091 - $100= $615.9091

Result

Profit: $615.91

For entertainment and informational purposes only.

Parlay payouts on a $100 stake

A parlay multiplies the decimal odds of every leg together. Every added leg raises the payout and lowers the chance of winning anything at all.

Parlay	Legs	Combined decimal odds	Payout	Profit
Two legs at -110	2	3.6446	$364.46	$264.46
Three legs at -110	3	6.9579	$695.79	$595.79
Four legs at -110	4	13.2833	$1,328.33	$1,228.33
Five legs at -110	5	25.3591	$2,535.91	$2,435.91
+150 and +200	2	7.5000	$750.00	$650.00
-110, +150, +250	3	16.7045	$1,670.45	$1,570.45

The bookmaker's margin compounds with every leg. Two -110 legs each have a 52.38% implied probability, so the true chance of both landing is about 27%, while a fair payout would be higher than the 3.64 offered. Parlays are the highest-margin bet on the board. Gambling odds always favour the house over time. Treat any stake as money spent on entertainment, and never as an expected return.

How parlay odds combine

A parlay multiplies the decimal odds of each leg together — three -110 legs (1.909 decimal each) combine to about 6.96x, turning a $100 bet into a $696 payout, but all legs must win or the entire bet loses.

Why parlays favor the house

Each added leg multiplies both the potential payout and the house edge — a two-leg parlay at -110 each has about a 4.5% house edge versus 2.3% for a single bet, which is why sportsbooks aggressively promote them.

How to read American odds

Negative odds (e.g., -110) mean the amount you need to bet to win $100. Positive odds (e.g., +200) mean how much you win on a $100 bet. To convert to decimal: for negative, divide 100 by the number and add 1 (−110 → 1.909); for positive, divide by 100 and add 1 (+200 → 3.0). The parlay calculator handles this conversion automatically.

Correlated parlays and same-game parlays

Traditional parlays assume independent events. Same-game parlays (SGPs) combine bets within a single game — e.g., a player to score 20+ points AND the team to win. These legs are correlated, so sportsbooks adjust the combined odds downward. The true payout for correlated parlays is lower than multiplying the individual odds would suggest.

Frequently asked questions

How do you calculate a parlay payout?

Convert each leg's American odds to decimal odds, multiply them all together, then multiply by your wager. For example, three legs at -110 (1.909 decimal each): 1.909 × 1.909 × 1.909 = 6.96. A $100 bet pays $696 total ($596 profit). All legs must win.

What is a 4-leg parlay payout?

It depends on each leg's odds. Four legs at -110 each pay about 13.3:1 (a $100 bet returns ~$1,330). Four legs at +100 each pay 16:1. The more plus-money legs you add, the bigger the multiplier — but the harder it is to hit.

Is a parlay a good bet?

Mathematically, no — the house edge compounds with each leg. A single -110 bet has a ~4.5% edge; a 4-leg parlay at -110 has ~17%. Parlays are popular because of the large potential payoff from a small wager, but the expected value is worse than placing each bet individually.

What happens if one leg of a parlay pushes?

If one leg pushes (ties), most sportsbooks remove that leg and recalculate the parlay with the remaining legs. A 4-leg parlay with one push becomes a 3-leg parlay. The total payout decreases accordingly.