Parlay calculator
Enter 2 to 8 legs and a stake to see the parlay's odds, payout and implied chance. Add a fair price for each leg to see the true chance and how much of the stake the margin takes.
One bet on the whole parlay
- Parlay odds
- +5966.96 in decimal odds: the 3 legs' decimal odds multiplied together.
- Payout
- $695.79+$595.79 profit on $100 if every leg wins, stake included in the payout.
- Implied chance
- 14.37%What the price says the parlay's chance is, with every leg's margin still inside it.
- True chance
- 12.50%The legs' fair chances multiplied, assuming the legs do not depend on each other. A fair price would be +700 and pay $800.00.
- EV on $100
- -$13.03-13.03% of the stake. The legs alone are -4.55% each; multiplied together the margin grows to 13.03%.
How the margin compounds, leg by leg
| Leg | Odds | Fair | Leg EV | Parlay so far |
|---|---|---|---|---|
| 1 | -110 | +100 | -4.55% | -4.55% |
| 2 | -110 | +100 | -4.55% | -8.88% |
| 3 | -110 | +100 | -4.55% | -13.03% |
How a parlay is priced
A parlay pays only if every leg wins. Its decimal odds are the legs' decimal odds multiplied together, and its implied chance is the legs' implied chances multiplied. Three legs at -110 (1.9091 each) come to 6.958, or +596: a $100 parlay returns $695.79 if all three win.
How the vig compounds
A -110 leg from a -110 / -110 market has a fair chance of 50%, so on its own it gives up 4.55% of the stake. A parlay multiplies those shortfalls as well. With three legs the true chance is 0.5 × 0.5 × 0.5 = 12.50%, a fair price of +700 that would pay $800 on $100. The book pays $695.79, so the parlay gives up 13.03% of the stake, close to three times one leg's margin.
Every leg added makes it worse. At the same margin, six legs give up 24.36% and eight legs 31.08%. The table under the calculator shows the parlay's EV after each leg, so you can see where the margin piles up. It works the other way too: two legs that each beat their fair price by 5% make a parlay 10.25% in your favor.
Where fair odds come from
A fair price is a line with the book's margin taken out. The best source is a sharp book's line on both sides of each leg, run through the no-vig calculator one leg at a time. The EV calculator does the same for a single bet.
Legs from the same game
The true chance assumes the legs do not depend on each other. Legs from one game often do: a team's moneyline and its quarterback's passing yards tend to land together. That is why a sportsbook's same-game parlay price is not simply the legs multiplied, and why this calculator is for legs from different games.