How to calculate parlay odds and payout
A parlay joins two or more picks, called legs, into one bet. Every leg must win for the parlay to win. This calculator shows the combined odds, profit, and total payout for your stake.
How to use this parlay calculator
- Choose American, decimal, or fractional odds. Any odds already entered convert to the new format.
- Enter your stake: the amount you want to bet on the whole parlay.
- Add 2–15 picks, called legs, and enter the odds for each. You can name each pick to keep track of it.
- Read the combined odds, profit, and total payout.
- Use Copy result or Copy share link to save your numbers.
Parlay formula and definitions
Convert every leg to decimal odds, then multiply those odds together. In the formulas below, |American| means to ignore the minus sign. For fractional odds, n is the top number and m is the bottom number.
- Positive American
- decimal = 1 + American / 100
- Negative American
- decimal = 1 + 100 / |American|
- Fractional n/m
- decimal = 1 + n / m
- Combined decimal
- leg1 × leg2 × … × legN
- Profit
- wager × (combined decimal − 1)
- Total payout
- wager × combined decimal
Worked example
Suppose you wager $100 on a two-leg parlay at -110 and -110.
- Each -110 price converts to about 1.909 decimal odds.
- Combined decimal ≈ 1.909 × 1.909 ≈ 3.644.
- Profit ≈ $264.46.
- Total payout ≈ $364.46 (stake returned plus profit).
Select Reset in the calculator to try this example.
How to read your result
- Combined odds
- The price for all legs joined into one bet.
- Profit
- The money you win after subtracting your stake.
- Total payout
- Your profit plus the stake returned if every leg wins.
The combined win chance multiplies the chances implied by each leg’s odds. It is a rough price-based estimate. It assumes one pick’s result does not affect another, and it still includes any sportsbook margin.
Assumptions and limitations
- Picks from the same game can affect one another. This tool does not account for that link or a sportsbook’s special same-game pricing.
- Each leg’s odds can include sportsbook margin. Combining them also combines that cost.
- A sportsbook may remove a pushed or voided leg. Check the rules for your book and market.
- Money and American odds are rounded for display. Your sportsbook may round payouts differently.
- You can enter up to 15 legs. Sportsbook limits may differ.
Common mistakes
- Counting the returned stake as profit.
- Entering American odds between -99 and +99, which are invalid.
- Assuming picks from the same game cannot affect one another.
- Using the result for a bonus or boosted bet without checking its payout rules.
Related calculators and guides
- All betting calculators
- Odds Converter and Implied Probability to understand the odds for one pick
- Expected Value and Kelly Criterion to check average profit and compare stake sizes
- Outlier Positive EV features
- Responsible gambling resources
Parlay calculator FAQs
How do you calculate parlay odds?
Convert each leg to decimal odds and multiply them together. That gives the combined odds. Multiply by your stake to get the total payout, then subtract the stake to find your profit.
What is the difference between profit and total payout?
Profit is the money you win after subtracting your stake. Total payout includes the returned stake. A winning $100 bet at +300 earns $300 profit and pays back $400 in total.
Are parlays good bets?
A large possible payout does not mean a bet has good value. Every leg must win, and each price can include sportsbook margin. Picks from the same game may also affect one another. Check each leg’s odds and estimated win chance.
How many legs can this parlay calculator handle?
You can enter 2 to 15 legs. Add, remove, or name each leg to keep track of your picks. Your sportsbook may have different limits.
Does this calculator account for pushes or same-game parlays?
No. A sportsbook may remove a pushed or voided leg, but rules vary. Picks from the same game may affect one another, so multiplying their odds can give the wrong price. Check the sportsbook’s quoted payout.
How results are calculated
Each leg is converted to decimal odds before the prices are multiplied. Rounding happens only when results are displayed.
The implied win chance comes from the entered prices. It is not a verified forecast. Results are educational estimates.
Ready to compare real sportsbook numbers? Open Outlier