Parlay Calculator
Free parlay calculator for sports betting. Enter each leg's American odds — we'll calculate the combined odds, true win probability, and payout.
Profit on a winning ticket: $81.12. Want to know if this parlay is +EV? Run it through the EV calculator or paste it into the Bet Analyzer.
How a parlay calculator works
A parlay combines multiple bets — every leg must win. To compute the combined odds, multiply each leg's decimal odds. For example, three −110 legs (decimal 1.91) → 1.91 × 1.91 × 1.91 ≈ 6.97, or about +597 American. The win probability is just 1 / combined_decimal.
Worked example — 3-leg NFL parlay
- 1Leg 1 — Bills −3.5 −110 (1.91 decimal)
- 2Leg 2 — Chiefs/Ravens Over 47.5 −110 (1.91 decimal)
- 3Leg 3 — Josh Allen Over 1.5 pass TDs +150 (2.50 decimal)
- 4Combined decimal: 1.91 × 1.91 × 2.50 = 9.12
- 5Combined American: ≈ +812
- 6Win probability: 1 / 9.12 = 10.96%
- 7$10 stake payout: $91.20Profit: $81.20
Frequently asked questions
How do parlay odds work?+
Every leg must win. To compute combined odds, convert each leg to decimal odds and multiply them together. Three −110 legs (1.91 × 1.91 × 1.91) ≈ 6.97 decimal, or about +597 American.
Are parlays ever +EV?+
Yes, but rarely. Each leg compounds the book's vig, so a typical 3-leg parlay carries a 10–15% hold. To be +EV the combined fair price must beat the combined boosted price — which mostly happens during specific promos or correlated SGP markets that sportsbooks misprice.
What's the difference between a parlay and a same-game parlay (SGP)?+
A traditional parlay combines independent bets across different games. A same-game parlay combines correlated legs from one game. SGPs are priced under the assumption legs are independent, which often overprices them — but correlation in your favor can make them sharp.
How is parlay payout calculated?+
Payout = stake × combined decimal odds. Profit = payout − stake. A $10 bet at +597 returns $69.70 ($59.70 profit) if every leg hits.
Why do sportsbooks push parlays so hard?+
Margin. A single bet at −110 carries ~4.5% hold. A 5-leg parlay can carry 20%+ hold once each leg's vig compounds. Books promote parlays because they're the highest-margin product on the menu.