Parlay Calculator
Calculate parlay odds, potential payouts, and round robin combinations. Supports American, decimal, and fractional odds with up to 15 legs.
How Parlay Betting Works
A parlay (also called an accumulator or multi-bet) combines multiple individual wagers into a single bet. All selections must win for the parlay to pay out. The advantage is a much higher potential payout than placing each bet individually, but the trade-off is significantly lower probability of winning.
Step 1: Convert Odds to Decimal
Each leg's odds are converted to decimal format. American odds of -110 convert to 1.909 decimal. Positive odds like +200 convert to 3.000 decimal.
Step 2: Multiply Decimal Odds
All decimal odds are multiplied together: 1.909 × 1.909 = 3.645 for a two-leg parlay at -110. For three legs: 1.909 × 1.909 × 1.909 = 6.963.
Step 3: Calculate Payout
Multiply the combined decimal odds by your stake. A $100 bet on a 3.645 parlay pays $364.50 total ($264.50 profit).
Frequently Asked Questions
How is a parlay calculated?
A parlay is calculated by converting each leg's odds to decimal format and multiplying them together. The combined decimal odds are then multiplied by your stake to get the total payout. For example, two legs at -110 American (1.909 decimal) multiply to 3.645 combined decimal odds.
What is a round robin parlay?
A round robin is a set of smaller parlays created from a larger group of selections. For example, a 4-team round robin of 2-leg parlays creates 6 different 2-team parlays. This reduces risk because you don't need every leg to win, but it costs more since each sub-parlay requires its own stake.
Are parlays a good bet?
Parlays generally have a higher house edge than single bets because the vig compounds with each leg. A standard -110/-110 two-leg parlay pays +264 but the true fair odds are +275. However, correlated parlays and same-game parlays can sometimes offer value if the sportsbook misprices the correlation.
What is the maximum number of legs in a parlay?
Most sportsbooks allow between 10 and 25 legs in a parlay. Our calculator supports up to 15 legs. Keep in mind that each additional leg exponentially decreases your probability of winning. A 10-leg parlay at -110 odds per leg has roughly a 0.1% chance of hitting.
How do I convert parlay odds to implied probability?
Divide 1 by the combined decimal odds. For example, if your parlay has combined decimal odds of 5.00, the implied probability is 1/5.00 = 0.20 or 20%. This represents the break-even win rate needed for the parlay to be profitable long-term.