FREE TOOL
Parlay Calculator
Enter each leg's odds for the price, payout and win probability. The implied probability chart sits with it, and there's a parlay odds chart below.
How parlay odds work
A parlay multiplies the decimal odds of every leg. Two legs at −110 (decimal 1.909) combine to 1.909 × 1.909 = 3.645, which is +264. Your payout grows fast. So does something else:
Every leg multiplies the vig, too. A single −110/−110 market carries about 4.5% of book margin. Stack legs and the tax compounds:
| Legs | Parlay odds | Win chance | Book's hold | $10 pays | $100 pays |
|---|---|---|---|---|---|
| 1 | −110 | 52.4% | 4.5% | $19 | $191 |
| 2 | +264 | 27.4% | 8.9% | $36 | $364 |
| 3 | +596 | 14.4% | 13.0% | $70 | $696 |
| 4 | +1228 | 7.5% | 17.0% | $133 | $1,328 |
| 5 | +2436 | 3.9% | 20.8% | $254 | $2,536 |
| 6 | +4741 | 2.1% | 24.4% | $484 | $4,841 |
| 7 | +9142 | 1.08% | 27.8% | $924 | $9,242 |
| 8 | +17545 | 0.57% | 31.1% | $1,764 | $17,645 |
| 9 | +33585 | 0.30% | 34.2% | $3,369 | $33,685 |
| 10 | +64208 | 0.16% | 37.2% | $6,431 | $64,308 |
Payout is the full return including your stake. "Win chance" assumes each leg is a true coin flip, which is what −110 implies once the vig is stripped. The hold column is the same math the row above it hides: at ten legs the book keeps more than a third of the ticket's value before a single game is played.
That's the whole reason sportsbooks market parlays so hard, and it's why the calculator shows a win probability next to the payout. The probability it gives you is the one implied by the price you typed in, which means the vig is still inside it. Look up that same percentage in the implied probability chart on this page and you're reading the book's number, not a true one.
One honest caveat: multiplying legs assumes they're independent. Same-game parlay legs are correlated, which is why books reprice SGPs internally. For an SGP, treat the number this calculator gives you as the independent-leg baseline, not the real price.
Implied probability chart, every half point
The same conversion at 0.5% resolution, 0 to 100. A price of −110 is 52.4%; anything you are laying more than even money on needs to win more than half the time before the vig is counted.
- 0.0%na
- 0.5%+19900
- 1.0%+9900
- 1.5%+6567
- 2.0%+4900
- 2.5%+3900
- 3.0%+3233
- 3.5%+2757
- 4.0%+2400
- 4.5%+2122
- 5.0%+1900
- 5.5%+1718
- 6.0%+1567
- 6.5%+1438
- 7.0%+1329
- 7.5%+1233
- 8.0%+1150
- 8.5%+1076
- 9.0%+1011
- 9.5%+953
- 10.0%+900
- 10.5%+852
- 11.0%+809
- 11.5%+770
- 12.0%+733
- 12.5%+700
- 13.0%+669
- 13.5%+641
- 14.0%+614
- 14.5%+590
- 15.0%+567
- 15.5%+545
- 16.0%+525
- 16.5%+506
- 17.0%+488
- 17.5%+471
- 18.0%+456
- 18.5%+441
- 19.0%+426
- 19.5%+413
- 20.0%+400
- 20.5%+388
- 21.0%+376
- 21.5%+365
- 22.0%+355
- 22.5%+344
- 23.0%+335
- 23.5%+326
- 24.0%+317
- 24.5%+308
- 25.0%+300
- 25.5%+292
- 26.0%+285
- 26.5%+277
- 27.0%+270
- 27.5%+264
- 28.0%+257
- 28.5%+251
- 29.0%+245
- 29.5%+239
- 30.0%+233
- 30.5%+228
- 31.0%+223
- 31.5%+217
- 32.0%+213
- 32.5%+208
- 33.0%+203
- 33.5%+199
- 34.0%+194
- 34.5%+190
- 35.0%+186
- 35.5%+182
- 36.0%+178
- 36.5%+174
- 37.0%+170
- 37.5%+167
- 38.0%+163
- 38.5%+160
- 39.0%+156
- 39.5%+153
- 40.0%+150
- 40.5%+147
- 41.0%+144
- 41.5%+141
- 42.0%+138
- 42.5%+135
- 43.0%+133
- 43.5%+130
- 44.0%+127
- 44.5%+125
- 45.0%+122
- 45.5%+120
- 46.0%+117
- 46.5%+115
- 47.0%+113
- 47.5%+111
- 48.0%+108
- 48.5%+106
- 49.0%+104
- 49.5%+102
- 50.0%+100
- 50.5%−102
- 51.0%−104
- 51.5%−106
- 52.0%−108
- 52.5%−111
- 53.0%−113
- 53.5%−115
- 54.0%−117
- 54.5%−120
- 55.0%−122
- 55.5%−125
- 56.0%−127
- 56.5%−130
- 57.0%−133
- 57.5%−135
- 58.0%−138
- 58.5%−141
- 59.0%−144
- 59.5%−147
- 60.0%−150
- 60.5%−153
- 61.0%−156
- 61.5%−160
- 62.0%−163
- 62.5%−167
- 63.0%−170
- 63.5%−174
- 64.0%−178
- 64.5%−182
- 65.0%−186
- 65.5%−190
- 66.0%−194
- 66.5%−199
- 67.0%−203
- 67.5%−208
- 68.0%−213
- 68.5%−217
- 69.0%−223
- 69.5%−228
- 70.0%−233
- 70.5%−239
- 71.0%−245
- 71.5%−251
- 72.0%−257
- 72.5%−264
- 73.0%−270
- 73.5%−277
- 74.0%−285
- 74.5%−292
- 75.0%−300
- 75.5%−308
- 76.0%−317
- 76.5%−326
- 77.0%−335
- 77.5%−344
- 78.0%−355
- 78.5%−365
- 79.0%−376
- 79.5%−388
- 80.0%−400
- 80.5%−413
- 81.0%−426
- 81.5%−441
- 82.0%−456
- 82.5%−471
- 83.0%−488
- 83.5%−506
- 84.0%−525
- 84.5%−545
- 85.0%−567
- 85.5%−590
- 86.0%−614
- 86.5%−641
- 87.0%−669
- 87.5%−700
- 88.0%−733
- 88.5%−770
- 89.0%−809
- 89.5%−852
- 90.0%−900
- 90.5%−953
- 91.0%−1011
- 91.5%−1076
- 92.0%−1150
- 92.5%−1233
- 93.0%−1329
- 93.5%−1438
- 94.0%−1567
- 94.5%−1718
- 95.0%−1900
- 95.5%−2122
- 96.0%−2400
- 96.5%−2757
- 97.0%−3233
- 97.5%−3900
- 98.0%−4900
- 98.5%−6567
- 99.0%−9900
- 99.5%−19900
- 100.0%∞
Parlay odds chart
What a parlay pays at common leg prices. Read down for the number of legs, across for what each leg is priced at. Every cell is the combined American price of that ticket.
| Legs | −120 | −110 | −105 | +100 | +150 | +200 |
|---|---|---|---|---|---|---|
| 2 | +236 | +264 | +281 | +300 | +525 | +800 |
| 3 | +516 | +596 | +644 | +700 | +1463 | +2600 |
| 4 | +1030 | +1228 | +1353 | +1500 | +3806 | +8000 |
| 5 | +1971 | +2436 | +2737 | +3100 | +9666 | +24200 |
| 6 | +3697 | +4741 | +5438 | +6300 | +24314 | +72800 |
| 7 | +6861 | +9142 | +10713 | +12700 | +60935 | +218600 |
| 8 | +12662 | +17545 | +21011 | +25500 | +152488 | +656000 |
| 9 | +23298 | +33585 | +41117 | +51100 | +381370 | +1968200 |
| 10 | +42796 | +64208 | +80372 | +102300 | +953574 | +5904800 |
Mixed-price tickets are the normal case and the chart cannot show every combination, so put your actual legs into the calculator above. The chart is for the shape of the thing: notice that the jump from four legs to five is bigger than the jump from one to two, which is why the payout looks so attractive and why the hold in the table above climbs at the same time.
Parlay questions
Why do sportsbooks push parlays so hard?
Because vig compounds per leg. A bettor grinding single −110 bets pays ~4.5% margin; the same bettor on 4-leg parlays pays ~17%. Parlays are the book's highest-margin product, dressed up as a lottery ticket.
Can I use this for same-game parlays?
For the price and payout, yes. For the fair-value math, carefully: SGP legs are correlated (a QB's passing yards and his team winning move together), so multiplying independent fair probabilities overstates or understates the truth depending on the combo. Books know this and reprice SGPs internally.
What does a 5-team parlay pay?
With every leg at −110, a 5-team parlay is +2436, so $100 returns $2,536 including your stake. The honest half of that answer is the other three numbers: the ticket wins about 3.9% of the time, and the book's hold on it is about 20.8%. The chart above runs from 1 to 10 legs.
Why is a same-game parlay priced worse than this calculator says?
Because the legs are not independent. This calculator multiplies them as if they were, which gives you the independent-leg baseline. A book quoting an SGP prices the correlation between the legs, and its number is usually lower.
Compare the two and the gap is real information, but be careful what you call it: the gap contains the book's correlation adjustment, its vig, its rounding, and any difference in the individual leg prices it used. It is not a clean measure of correlation and nobody who tells you otherwise has separated those four things either.
What is a fair parlay price?
The product of each leg's no-vig win probability, converted back to odds. If two legs are each a fair 50% (+100 no-vig), the fair parlay is 25%, which is +300. Anything less than +300 on that ticket is vig. This calculator does exactly that math in the fair column.
Related
Got a profit boost to put on a slip? Price it properly first. That's what the desk does every morning.