Core Steps
- Legs: Enter the odds for each leg. Add legs as needed, up to 12.
- Bet Amount: Enter the amount you are betting on the parlay.
- View Result: Read the combined odds, implied probability, payout, and profit.
Parlay Calculator
Enter the odds for each leg of your parlay and your bet amount. You get the combined odds, the implied probability, the payout, and the profit.
You entered one set of odds.
DarkHorse Odds checks millions.
This calculator prices one parlay you built by hand. DarkHorse Odds shows the best price for each leg across every sportsbook you use.
- 69 sportsbooks searched
- Best available line on each leg, in one list
- Hedges calculated for you
How to Use This Calculator
What Is a Parlay?
A parlay combines two or more bets into one wager. Every leg has to win for the parlay to win. If one leg loses, the whole parlay loses. The odds of every leg multiply together, so a parlay pays more than any of its legs would on its own. Learn more in our What Is a Parlay guide.
Example: You want to bet the Eagles at -200 (decimal 1.50) and the Phillies at +150 (decimal 2.50). As straight bets, $100 on the Eagles wins $50 and $100 on the Phillies wins $150. As a two-leg parlay, the odds multiply: 1.50 × 2.50 = 3.75, or +275. A $100 parlay on both pays $375, a profit of $275.
The two straight bets put $200 at risk. The parlay puts $100 at risk. Four outcomes are possible.
| Outcome | Straight bets, $200 at risk | Parlay, $100 at risk |
|---|---|---|
| Eagles win, Phillies win | +$200 | +$275 |
| Eagles win, Phillies lose | -$50 | -$100 |
| Eagles lose, Phillies win | +$50 | -$100 |
| Eagles lose, Phillies lose | -$200 | -$100 |
When both teams win, the parlay profits $275 on $100 at risk and the straight bets profit $200 on $200 at risk. In the other three outcomes the parlay loses the full $100. The straight bets lose $200 only when both teams lose.
What Is a Parlay Calculator?
A parlay calculator combines the odds of every leg into one price and shows what the parlay pays. You enter the odds for each leg and your bet amount. You get the combined odds, the implied probability that every leg wins, the payout, and the profit.
How the Math Works
Note: The calculations below use decimal odds. Step 1 shows the conversion from American odds. For any other format, use the Odds Converter.
Example: You bet $100 on a three-leg parlay. The legs are priced at +120 (decimal 2.20), -200 (decimal 1.50), and +210 (decimal 3.10).
Step 1. Convert Each Leg to Decimal Odds
\[
\begin{aligned}
+120 &= \dfrac{\strut 120}{\strut 100} + 1 = 2.20 \\[6pt]
-200 &= \dfrac{\strut 100}{\strut 200} + 1 = 1.50 \\[6pt]
+210 &= \dfrac{\strut 210}{\strut 100} + 1 = 3.10
\end{aligned}
\]
Step 2. Multiply the Legs Together
\[
\begin{aligned}
\text{Combined Odds} &= 2.20 \times 1.50 \times 3.10 = 10.23
\end{aligned}
\]
Step 3. Determine the Payout and Profit
\[
\begin{aligned}
\text{Combined Odds (American)} &= (10.23 - 1) \times 100 = +923 \\[6pt]
\text{Payout} &= \$100 \times 10.23 = \$1{,}023.00 \\[6pt]
\text{Profit} &= \$1{,}023.00 - \$100 = \$923.00 \\[6pt]
\text{Implied Probability} &= \dfrac{\strut 1}{\strut 10.23} = 9.78\%
\end{aligned}
\]
The parlay pays $1,023.00 on a $100 bet, a profit of $923.00. The implied probability of 9.78% means the sportsbook prices this parlay to win about once in every ten attempts.
Why the Vig Grows With Every Leg
A winning $100 bet at -110 returns $190.91. A fair coin flip returns $200. The 4.5% gap is the sportsbook's vig on one leg. Combine several -110 legs into a parlay and the vig compounds with the odds. Three coin flips win 12.5% of the time, which is fair odds of +700. Three -110 legs combine to +596.
\[
\begin{aligned}
\text{1 leg at -110} &: -110 \text{ paid vs } +100 \text{ fair} \ \rightarrow \ 4.5\% \text{ vig} \\[6pt]
\text{2 legs at -110} &: +264 \text{ paid vs } +300 \text{ fair} \ \rightarrow \ 8.9\% \text{ vig} \\[6pt]
\text{3 legs at -110} &: +596 \text{ paid vs } +700 \text{ fair} \ \rightarrow \ 13.0\% \text{ vig} \\[6pt]
\text{4 legs at -110} &: +1{,}228 \text{ paid vs } +1{,}500 \text{ fair} \ \rightarrow \ 17.0\% \text{ vig}
\end{aligned}
\]
Each leg adds about four points of vig. A four-leg parlay at -110 carries 17.0% vig against 4.5% on one straight bet. The same games bet as singles cost less.
Parlay Payouts by Number of Legs
The table shows what a $100 parlay pays when every leg is priced at -110, from 2 legs to the 12-leg maximum.
| Legs | Combined Decimal | Combined Odds | Implied Probability | Payout | Profit |
|---|---|---|---|---|---|
| 2 | 3.6446 | +264 | 27.44% | $364.46 | $264.46 |
| 3 | 6.9579 | +596 | 14.37% | $695.79 | $595.79 |
| 4 | 13.2833 | +1,228 | 7.53% | $1,328.33 | $1,228.33 |
| 5 | 25.3591 | +2,436 | 3.94% | $2,535.91 | $2,435.91 |
| 6 | 48.4127 | +4,741 | 2.07% | $4,841.27 | $4,741.27 |
| 7 | 92.4243 | +9,142 | 1.08% | $9,242.43 | $9,142.43 |
| 8 | 176.4464 | +17,545 | 0.57% | $17,644.64 | $17,544.64 |
| 9 | 336.8523 | +33,585 | 0.30% | $33,685.23 | $33,585.23 |
| 10 | 643.0816 | +64,208 | 0.16% | $64,308.16 | $64,208.16 |
| 11 | 1227.7013 | +122,670 | 0.08% | $122,770.13 | $122,670.13 |
| 12 | 2343.7933 | +234,279 | 0.04% | $234,379.33 | $234,279.33 |
A 12-leg parlay at -110 wins about once in 2,344 attempts.
Same Game Parlays and Correlation
The math above assumes every leg is independent. In a same game parlay, the legs come from one game and affect each other. A quarterback who throws for 300 yards makes his team more likely to win. Sportsbooks price the combination lower than the straight multiplication would give. The SGP Correlation Calculator shows how much the sportsbook has adjusted the price for that relationship.
Round Robins
A round robin splits a set of legs into every possible smaller parlay. One losing leg no longer sinks the whole ticket. Each combination is a separate bet, so the total stake is higher. Three legs split into two-leg parlays make three bets, so a $10 round robin costs $30.
Why Parlay Math Matters
Parlays carry more vig than any other bet a sportsbook offers. A main line at -110 carries 4.5%. A four-leg parlay at -110 carries 17.0%. Compare the combined odds to the implied probability before you add a leg and you will see what each leg costs.
The math also works in reverse. A parlay boost, parlay insurance, or a no-sweat parlay can cover the vig and turn the parlay into a +EV bet. Price the parlay here first. Our Parlay Promotions guide covers how each promotion changes the math.
Parlays vs Straight Bets
Bet three -110 legs as singles and each one carries 4.5% vig. Bet them as one parlay and the vig compounds to 13.0%. The parlay pays more because all three legs have to win. Without a promotion, the singles are the better price.
Common Parlay Mistakes
- Assuming the payout is fair: Three -110 legs pay +596. Three coin flips are worth +700. The gap is the sportsbook's vig compounded across every leg, and it grows with each leg you add.
- Taking a fixed-odds parlay card: Some sportsbooks pay a flat price for a set number of legs no matter the odds. A card paying +600 on three legs pays less than the standard price whenever the legs are priced longer than -110. Enter the legs here and compare the combined odds to the card before you take it.
- Ignoring pushes: Most sportsbooks remove a leg that pushes and pay the parlay at the remaining legs' odds. A three-leg parlay at +596 drops to +264 when one leg pushes. Check the sportsbook's house rules on pushes before you bet.
- Pricing correlated legs as independent: Two legs from the same game are not independent. Sportsbooks price the combination lower than the straight multiplication. Use the SGP Correlation Calculator to see how much lower.
- Chasing the payout without reading the probability: A +2,000 parlay is priced to win about once in 21 attempts, with vig on top. It is important you understand the implied probability before the payout.
Frequently Asked Questions
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