Parlay calculator
A parlay’s decimal odds are the product of its legs’ decimal odds, and the payout is the stake times that product. The implied probability, 1 divided by the combined odds, assumes the legs are independent. Legs are often related, especially in the same game, so treat that probability as a rough figure.
Calculate a parlay
Leave unused legs empty. The calculator takes two to six legs, each a price that wins or loses (no pushes).
The formula
Combined decimal odds = decimal odds of leg 1 × leg 2 × ... × leg n.
Total payout if every leg wins = stake × combined decimal odds. Profit = payout − stake.
Implied probability = 1 ÷ combined decimal odds = the product of each leg’s implied probability.
Three legs at −110 (decimal 1.909 each). Combined decimal odds: 1.909³ = 6.958, or +596. A 10 stake returns 69.58 if all three win, a profit of 59.58. Implied probability: 14.37%. If each leg were truly a 50% chance and the legs were independent, all three would win 12.50% of the time: each leg’s margin compounds in a parlay.
Related legs and the independence assumption
Multiplying probabilities is correct only when the legs are independent: the result of one tells you nothing about another. Legs in different games are usually close to independent. Legs in the same game often are not:
- Legs that move together, such as a quarterback’s passing yards over and his top receiver’s receiving yards over, are more likely to win together than the product suggests. The product understates their joint chance.
- Legs that work against each other, such as a team to win by a lot and the game total under, are less likely to win together. The product overstates their joint chance.
Sportsbooks price same-game parlays with their own adjustments for related legs, so a same-game parlay’s price usually differs from the product of its legs. This calculator multiplies the prices you enter; it does not know how your legs are related.
Worked examples
| Legs | Combined decimal | Combined American | Payout on 10 | Implied probability |
|---|---|---|---|---|
| −110, −110 | 3.645 | +264 | 36.45 | 27.44% |
| −110, −110, −110 | 6.958 | +596 | 69.58 | 14.37% |
| −110, −110, −110, −110 | 13.283 | +1,228 | 132.83 | 7.53% |
| −110, +150 | 4.773 | +377 | 47.73 | 20.95% |
| −200, −200, −200 | 3.375 | +238 | 33.75 | 29.63% |
| +150, +200, +250 | 26.25 | +2,525 | 262.50 | 3.81% |
Questions
Why does my sportsbook show a different payout?
Sportsbooks may round each leg, cap payouts, or price same-game parlays with their own adjustments for related legs. The calculator multiplies the exact prices you enter.
What happens if one leg pushes?
At most sportsbooks a pushed leg is removed and the parlay pays at the remaining legs’ odds, but rules vary. To see that payout, leave the pushed leg out of the calculator.
Is the implied probability the chance my parlay wins?
No. It is what the combined price implies if the legs were independent, with every leg’s margin included. The real chance is unknown, and related legs make the product less reliable.
Arithmetic, not advice
These calculators do arithmetic on the numbers you enter. They do not know the true chance of any result, they do not predict outcomes, and using them does not make betting profitable. Betting involves financial risk, and no research or model makes gambling safe or removes that risk.
StatsNext is for people 18 and older. Being 18 or older does not mean sports betting is legal for you: follow the laws and legal gambling age requirements where you live. Never wager money you cannot afford to lose, and do not chase losses. If gambling stops feeling like it is within your limits, free and confidential help is available 24/7 from the National Problem Gambling Helpline: 1-800-MY-RESET (1-800-697-3738). More resources are on the Responsible Gambling page.
StatsNext is a research platform, not a sportsbook; it does not accept wagers or guarantee results (Research Disclaimer, Responsible Gambling).
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