How to use this calculator
Enter the American odds for each leg of your parlay (e.g. -110, +150). Click "Add Leg" for more selections. Set your stake to see the exact payout and combined odds. For up to 5 legs, every possible win/loss combination is shown in a table.
Formula
Parlay decimal = D1 x D2 x D3 x ... x Dn
Profit = stake x (parlay decimal - 1)
Break-even % = 1 / parlay decimal x 100
Example
A 3-leg parlay: -110, -110, +120. Converting: 1.909, 1.909, 2.20. Parlay decimal = 1.909 x 1.909 x 2.20 = 8.02. On a $100 stake: profit = $702, total return = $802. Combined American odds = +702. Break-even win rate = 12.5%. You need to hit this parlay roughly 1 in 8 times to profit.
Frequently asked questions
Are parlays good bets?
Parlays pay large amounts but carry a higher house edge than straight bets. Every leg you add multiplies the sportsbook's vig into the price. Sharp bettors generally avoid parlays unless they have a confirmed edge on each individual leg.
How does parlay math work?
Convert each leg to decimal odds (American +150 becomes 2.50; -110 becomes 1.909), then multiply them all together. The result is the decimal payout multiplier. Multiply by your stake for total return, or subtract the stake for profit.
What is a teaser bet?
A teaser is a modified parlay where you get extra points on the spread or total in exchange for a lower payout. The most common is a 2-team 6-point NFL teaser priced at -110. Use the teaser calculator to see specific payouts for each combination.
What is the break-even win rate for a parlay?
Divide 1 by the decimal odds. A parlay at 6.00 decimal requires winning 16.7% of the time (1/6). Due to vig on each leg, the true win probability of your parlay is typically lower than the break-even rate, giving the book an edge.
