Parlay Calculator
A parlay combines multiple bets into one — all legs must win for you to collect. This calculator shows your true payout, win probability, and exactly how much the house is taking on every parlay.
GamblersGuide Tool
Parlay calculator
Stake ($)
Parlay legs 2
Total payout
$364.46
incl. $100 stake
Profit
$264.46
if all legs hit
Parlay odds
+264
3.645x
Win probability
27.44%
1 in 4 chance
True fair odds
+264
$264.46 profit w/o vig
Vig cost
$0.00
vs. fair payout
House edge
0.0%
on this parlay
Leg breakdown
Why parlays favor the house
A parlay multiplies your odds — but the house edge multiplies too. Each leg you add compounds the vig, making the book's edge on the overall bet significantly larger than on any single leg. A 4-team parlay at -110 per leg pays 10/1, but the true odds are 15/1. That gap is pure profit for the sportsbook. Parlays are entertaining, but they're one of the worst bets you can make on a per-dollar basis.
The truth about parlays
How parlays work — Each leg's decimal odds are multiplied together to get the parlay odds. A two-team parlay at -110/-110 pays +260, meaning you'd win $260 on a $100 bet if both legs hit.
The vig compounds — Every -110 line has 4.55% vig built in. When you parlay four -110 legs, that vig compounds across every leg — the house edge on the full parlay is over 6x higher than on a single bet.
True odds vs. book odds — The "true fair odds" shown above are what you'd be paid with zero house edge. The difference between true odds and book odds is the sportsbook's margin — it grows with every leg you add.
When parlays make sense — Almost never, mathematically. The only argument for parlays is entertainment value — a small stake can produce a large payout. Never parlay because you think it's a smarter bet. It isn't.