How to Use the Parlay Calculator
To use this parlay calculator, simply input the odds for each leg of your parlay in decimal format. The calculator will determine the final odds, or total payout, of your bet.
A parlay links multiple bets into one wager with a higher payout. To win a parlay, all legs must win. If even just one of ten legs in a parlay loses, then the entire parlay will lose.
Your parlay payout will continue to increase with more wagers added in. This should make sense—it's a lot easier to go 1/1 than 10/10 as a sports bettor.
Parlay Calculator Example
2-Leg Parlay: Let's say you initially add two legs into your parlay:
- Real Madrid -1.5 at 2.00 odds
- Liverpool ML at 2.00 odds
As shown in the parlay calculator, your total payout will be 4.00 decimal odds. If both teams win, you'll win €300 profit on a €100 stake (€400 total payout - €100 stake).
3-Leg Parlay: Let's say you also decide to add Barcelona ML at 2.00 odds as a third leg.
Now, as shown in the parlay calculator, your total payout is 8.00 decimal odds. You win €700 profit per €100 staked (€800 total - €100 stake).
Parlay Odds Calculation Explained
If you are curious about the math behind calculating parlay payout, you'll need to use an odds converter to convert American odds to decimal odds if needed.
Formula: Multiply all decimal odds together
Example:
- Leg 1: 1.83 decimal odds
- Leg 2: 1.91 decimal odds
- Leg 3: 1.67 decimal odds
- Parlay odds = 1.83 × 1.91 × 1.67 = 5.83
Converting back to other formats: 5.83 decimal = +483 American = €4.83 profit for every €1 wagered on this parlay.
Should You Bet Parlays?
As covered in our common betting mistakes guide, chasing parlays is one of the biggest errors recreational bettors make.
The math against parlays:
- Two 50% bets in a parlay: 25% win rate (0.5 × 0.5)
- Three 50% bets: 12.5% win rate
- Four 50% bets: 6.25% win rate
- Five 50% bets: 3.1% win rate
Each additional leg exponentially decreases your win probability.
If you must parlay:
- Limit to 2-3 legs maximum
- Only combine +EV bets
- Use small stakes for entertainment
- Don't make parlays your main betting strategy
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Parlay Calculator FAQ
What is a parlay bet?
A parlay bet combines two or more bets into one wager with higher payout odds. To win a parlay, every single leg must win—if even one wager loses, the entire parlay loses. Parlays offer high reward but lower win probability.
How do you calculate parlay odds?
Convert all legs to decimal odds, then multiply them together. Example: 2.0 × 2.0 × 2.0 = 8.0 decimal odds (equivalent to +700 American or 7/1 fractional). The more legs added, the higher the payout but lower the win probability.
How does a parlay calculator work?
Input odds for each leg of your parlay in decimal format. The calculator multiplies all odds together to show final parlay odds, total payout, and profit. It handles 2-10 leg parlays instantly.
Are parlays good bets?
Parlays have attractive payouts but are difficult to win because all legs must hit. They're fine for entertainment in small amounts but shouldn't be your primary strategy. The more legs you add, the exponentially harder it becomes to win.
What happens if one leg of a parlay loses?
The entire parlay loses. Parlays are all-or-nothing bets. If you have a 5-leg parlay and 4 legs win but 1 loses, you lose your entire stake. This is why parlays are high-risk despite high potential payouts.
How many legs can you have in a parlay?
Most sportsbooks allow 2-15 leg parlays. This calculator supports up to 10 legs. However, the more legs you add, the lower your win probability becomes. Professional bettors typically stick to 2-3 leg parlays maximum if betting them at all.