Parlay calculator
What a parlay pays: its total odds, payout, and the chance the book's price implies.
Result
- Parlay odds
- +596
- Decimal odds
- 6.96
- Payout if it wins
- $69.58
- Profit if it wins
- $59.58
- Chance the price implies
- 14.4%
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How it works
A parlay's odds are every leg's decimal odds multiplied together. All the legs have to win for it to pay, and if one loses, the whole parlay loses.
The implied chance is what the book's price says the parlay's chance of winning is, with the vig on every leg included. The real chance is lower, because the vig compounds as you add legs.
This assumes the legs are independent. Legs from the same game move together, so a same-game parlay's real chance can differ from the multiplied number.
How is a parlay's payout calculated?
Convert each leg to decimal odds and multiply them. A three-leg parlay of -110, +150, and -200 is 1.91 x 2.50 x 1.50 = 7.16, or +616 in American odds.
A $20 bet at those odds pays $143.18 if every leg wins: $123.18 in profit plus your $20 back. The book's price implies a 14.0% chance of that happening.
Why do parlays cost more than single bets?
Each leg carries the book's margin, and multiplying the legs multiplies the margin too. Three -110 legs pay 6.96 in decimal odds, but three true coin flips are worth 8.00, so the book pays only 87.0% of the fair price. A single -110 bet pays 95.5% of fair.
Should you use a profit boost on a parlay? shows how fast that gap grows from one leg to six.