Parlay Calculator
Calculate combined odds and payouts for multi-leg parlays. See the true cost of the compounding vig.
How Parlay Odds Are Calculated
A parlay (accumulator, combo bet) combines multiple bets into one. All legs must win for the parlay to pay out. The combined odds are calculated by multiplying the decimal odds of each leg:
Example: 3-Leg Parlay at -110 each
Convert each -110 to decimal: 1.909
American = +595
$100 stake → $695 payout ($595 profit)
Implied probability: 14.4%
True probability: 12.5% (0.5³)
House edge: ~13.5%
Standard Parlay Payouts at -110
This table shows typical payouts for parlays where every leg is at -110 (standard juice):
| Legs | Payout (per $100) | True Odds | House Edge |
|---|---|---|---|
| 2 | $264 | $300 | 9.1% |
| 3 | $595 | $700 | 13.5% |
| 4 | $1,228 | $1,500 | 17.7% |
| 5 | $2,435 | $3,100 | 21.7% |
| 6 | $4,769 | $6,300 | 25.5% |
| 7 | $9,230 | $12,700 | 29.1% |
| 10 | $64,278 | $102,300 | 38.9% |
Key insight: The house edge compounds with each leg. A 10-leg parlay gives the sportsbook almost 40% edge — worse than most casino games.
When Do Parlays Make Sense?
Most professional bettors avoid standard parlays. However, there are specific scenarios where they can be justified:
- Correlated parlays: When outcomes are linked (e.g., "Team A to win" + "Over total points" if Team A tends to score heavily). Some books don't properly adjust for correlations.
- All +EV legs: If every individual leg has positive expected value, the parlay maintains positive EV (though with higher variance).
- Entertainment value: Small stakes for big potential payouts, treating it like a lottery ticket. Just know the math is against you.
- Same-game parlays (SGPs): These can offer value when outcomes are correlated but priced independently.
Frequently Asked Questions
Why do sportsbooks promote parlays so heavily?
Because they're extremely profitable for the book. The compounding vig means higher house edge than single bets. A casual bettor placing $100 on a 5-leg parlay loses ~$22 in expected value vs ~$5 on a single -110 bet.
Are same-game parlays (SGPs) better?
Sometimes. SGPs can offer value when props are correlated (QB passing yards + team total points). But books are getting better at pricing correlations. Always check if the combined odds match your expected probability.
What's the optimal number of legs for a parlay?
From a pure EV standpoint: zero legs (don't parlay). If you must parlay for entertainment, fewer legs means less compounding vig. 2-leg parlays are the least destructive.
Should I use parlay insurance or boosts?
Parlay boosts can sometimes create +EV situations. Do the math: calculate the EV with and without the boost. Parlay insurance (one leg can lose) improves EV but rarely makes standard parlays profitable.