Parlay Calculator
Put in each leg's price and your stake to see the combined odds and what the parlay pays if every leg lands, along with the chance the prices give it and how much margin the bookmaker has built in along the way.
How a parlay is priced
A parlay is one bet on several outcomes, and it pays only if all of them win. Its price is every leg's price multiplied together, which is why a handful of short prices turns into a long one. The chance of it landing works the same way: multiply each leg's chance.
Why parlays cost more than they look
Every leg carries the bookmaker's margin, and multiplying the prices multiplies the margins too. At a typical 5% on each leg, a two-leg parlay gives back about 9% less than a fair price, four legs about 18% and eight legs about 32%. The calculator shows that figure for the number of legs you enter. Shopping each leg for the best price is the only way to claw some of it back.
The formula
combined = D₁ × D₂ × … × Dₙ
return = stake × combined
Worked example
Three legs at -110, +110 and -133 return 1.91, 2.10 and 1.75 per $1. Multiplied, that is about 7.02, or +602. A $10 parlay returns $70.23 if all three win: $60.23 profit, on roughly a 14% chance.
Same-game parlays are different
Multiplying assumes the legs are independent. Legs from the same game are not: a team winning big and its star scoring heavily tend to happen together, so a simple product misprices them, and books price same-game parlays with their own adjustments. The same-game parlay guide explains how.
Build the parlay at the best price for every leg
HaterPicks prices each leg across every US sportsbook it tracks and prices same-game parlays with the correlations built in. Free account · no card.
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FAQ
How do you calculate parlay odds?
Turn each leg into its total return per $1 (decimal odds), multiply them together, then turn the result back into American odds. Three legs at -110, +110 and -133 combine to about +602, so a $10 parlay returns about $70 if all three win.
Do all the legs have to win?
Yes. One losing leg loses the whole parlay. That is why the payout is large: the chance of every leg landing is the product of each leg’s chance.
Why are parlays so expensive?
Each leg carries the bookmaker’s margin, and the margins multiply. At about 5% a leg, a four-leg parlay gives back roughly 18% less than a fair price would.
What happens if a leg is void?
Most bookmakers drop a void or scratched leg and recalculate the parlay at the remaining legs’ combined price. Check the rules of the book you bet with.