Guide
How to Calculate Parlay Odds
A parlay combines several bets into one, and every leg has to win. Here is how to work out the parlay odds and the payout – by hand or with the calculator.
The parlay formula
Convert to decimal odds
Positive American odds: 1 + odds ÷ 100, so +110 is 2.10. Negative American odds: 1 + 100 ÷ |odds|, so −125 is 1.80 and −200 is 1.50. The odds calculator does this for you.
Multiply the legs
Parlay odds = leg 1 × leg 2 × … × leg n. Do not round each leg along the way – round only at the end.
Multiply by your stake
Payout = stake × parlay odds. Profit = payout − stake. To quote decimal odds of 2.00 or more in American odds: (decimal odds − 1) × 100. Below 2.00, use −100 ÷ (decimal odds − 1).
Worked example: a three-leg parlay at −125, +110 and −200 with a $100 stake.
Worked example
$567.00
Profit $467.00
- 1.80 × 2.10 × 1.50
- 5.67 (+467)
- Stake
- $100.00
Parlay odds chart
The chart shows the parlay odds when every leg has the same price. Multiply the decimal odds by your stake for the payout – four legs at −110 with a $100 stake pay $1,328.33.
| Legs | Each leg -110 | Each leg -200 | Each leg +100 | Each leg +150 |
|---|---|---|---|---|
| 2 legs | +264 (3.64) | +125 (2.25) | +300 (4.00) | +525 (6.25) |
| 3 legs | +596 (6.96) | +238 (3.38) | +700 (8.00) | +1,463 (15.63) |
| 4 legs | +1,228 (13.28) | +406 (5.06) | +1,500 (16.00) | +3,806 (39.06) |
| 5 legs | +2,436 (25.36) | +659 (7.59) | +3,100 (32.00) | +9,666 (97.66) |
| 6 legs | +4,741 (48.41) | +1,039 (11.39) | +6,300 (64.00) | +24,314 (244.14) |
If a leg loses or is voided
If one leg loses, the whole parlay loses and the payout is $0. If a leg is voided – a postponed game, for example – most sportsbooks treat it as decimal odds of 1.00. With 1.80 and 1.50 left, the parlay odds become 2.70 (+170) and a $100 bet pays $270. Exact rules differ between sportsbooks.
Common mistakes
- Adding the odds. 1.80 + 2.10 + 1.50 = 5.40 is wrong – the legs are multiplied.
- Multiplying American odds directly. −125 × +110 means nothing; convert to decimal first.
- Rounding every leg. Small rounding errors grow when they are multiplied. Use full values.
- Mixing up payout and profit. The payout includes your stake; the profit does not.
- Multiplying same-game legs. They are correlated, and the sportsbook sets its own price.