Parlay Calculator: Payout and Break-Even Odds
A parlay multiplies the decimal odds of every leg, so the payout grows fast, but every leg must win. Break-even chance for the whole parlay is 1 divided by the combined odds. Because each leg carries a margin, the margin compounds as you add legs.
Key facts
- A parlay's combined decimal odds are the product of its legs' decimal odds (Wikipedia, Parlay).
- Break-even chance for the whole parlay is 1 divided by its combined decimal odds.
- Margin on each leg compounds across the parlay.
A parlay rolls several bets into one: the winnings from each leg ride on the next. The payout is large because the chance of hitting every leg is small. This calculator shows the combined price, what it pays, and what chance you need for it to be worth it. It runs in your browser, sends nothing anywhere and forgets your numbers when you close the page.
Parlay calculator
Turn on JavaScript to use the calculator. The worked example below shows the same math by hand.
What you enter and what you get
You enter
- Leg 1 odds: American, decimal or fractional.
- Leg 2 odds: American, decimal or fractional odds.
- Leg 3 odds (optional): American, decimal or fractional odds.
- Leg 4 odds (optional): American, decimal or fractional odds.
- Leg 5 odds (optional): American, decimal or fractional odds.
- Leg 6 odds (optional): American, decimal or fractional odds.
- Leg 7 odds (optional): American, decimal or fractional odds.
- Leg 8 odds (optional): American, decimal or fractional odds.
- Stake ($): an amount in dollars.
You get
- Parlay pays
- Legs
- Combined decimal odds
- Combined American odds
- Break-even win chance for the whole parlay
- Profit if every leg wins
- Total back if every leg wins
- Chance all legs win if each is priced fairly
How the calculator works
- Convert each leg to decimal odds.
- Multiply them all together for the combined decimal odds.
- Profit = stake × (combined odds − 1).
- Break-even chance = 1 ÷ combined odds.
A worked example
Three legs at -110, +120 and -150 on a $100 stake.
| Item | Result |
|---|---|
| Parlay pays | $600 |
| Legs | 3 |
| Combined decimal odds | 7 |
| Combined American odds | +600 |
| Break-even win chance for the whole parlay | 14.29% |
| Profit if every leg wins | $600 |
| Total back if every leg wins | $700 |
| Chance all legs win if each is priced fairly | 14.29% |
What the calculator leaves out
- It assumes the legs are independent. Same-game parlays are priced for correlation, which this doesn't model.
- A push or void leg is usually removed from the parlay, which changes the odds.
- The 'priced fairly' chance is the product of the legs' implied probabilities, margins included.
How we checked it
Before it went on the page we checked it against a case worked by hand: two -110 legs have to pay 2.6 times the stake once the combined decimal odds are multiplied out. The calculator is also run against thousands of odd entries such as blanks, zeros and huge numbers, so a bad entry shows a plain prompt and never a wrong number. The worked example above comes from the same code the calculator runs.
At a sweepstakes sportsbook
Parlay rules at a sweepstakes sportsbook, such as how a void leg is handled, are in the site's own terms and can differ from regulated books. Read them before you build a ticket. For where these sites operate, see where sweepstakes sites can operate.
Betting math is not betting advice. Only play with money you can afford to lose, and if gambling stops being fun, call or text 1-800-GAMBLER.
Frequently asked questions
Why do parlays pay so much?
Every leg must win, so the chance of hitting is much smaller than any single leg. The payout reflects that, with the margin added on each leg.
Do parlays have a bigger house edge?
Typically yes. Each leg's margin compounds, so the total cost grows with the number of legs.
What happens if one leg pushes?
Usually that leg drops out and the parlay is repriced with the rest. Check the site's rules.
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- Parlay, Wikipedia (read 2026-10-05)
- Sports betting, Wikipedia (read 2026-10-05)
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