Parlay Calculator

How a parlay is calculated

A parlay only pays if every leg wins, so the combined probability is the product of the individual probabilities. Each contract’s price is its probability, so three legs at 50¢, 60¢ and 40¢ give 0.5 × 0.6 × 0.4 = 12% — and combined decimal odds of 1 ÷ 0.12 = 8.33. The calculator multiplies the legs you enter, then applies your stake to show the payout and profit.

Why parlays are tempting — and risky

The big payout comes from stacking long odds, but the probability of hitting every leg falls fast with each one you add. A parlay is only good value if each individual leg is itself positive expected value — combining bad bets just compounds the disadvantage. One more subtlety: if the legs are correlated (outcomes that tend to move together), the simple multiplication overstates the true odds. For the wider approach, see how to find value and common mistakes to avoid. To size the bet, use the bankroll calculator.

More calculators

Pair this tool with the others in the kit:

Frequently asked questions

What is a parlay?

A parlay combines several bets into one, and it only pays if every leg wins. The reward is a larger payout from stacking the odds; the risk is that the chance of hitting every leg falls quickly as you add more.

How is parlay probability calculated?

You multiply the probabilities of the individual legs, since all of them must win. Each contract's price is its probability, so legs at 50, 60 and 40 cents give 0.5 x 0.6 x 0.4 = 12%, with combined decimal odds of 1 divided by 0.12.

Do prediction markets offer parlays?

Most do not sell true parlays the way sportsbooks do; each contract is a separate market. This calculator shows the combined odds if you were to win every leg. Note that correlated legs do not multiply cleanly.