Maximizing Parlay Returns
A parlay combines multiple individual bets into one. All legs must win for the parlay to payout, but the returns are significantly higher.
Practical Example:
A 3-leg parlay with odds of 2.00, 2.00, and 2.00 results in total odds of 8.00.
The Math of Parlays
To find your parlay odds, you simply multiply the decimal odds of every leg together.
Formula: Leg 1 * Leg 2 * Leg 3 = Total Odds
While the payouts are enticing, remember that the house edge (vig) also compounds with every leg you add. This is why sportsbooks promote parlays so heavily—they are typically the most profitable bet type for the house.
True Odds vs. Fixed Odds Parlays
Most modern sportsbooks calculate parlays using "True Odds" (multiplying the exact lines). However, some old-school books or cards use "Fixed Odds" tables (e.g., a 3-team parlay always pays 6/1).
This calculator uses the True Odds method, which is standard for online betting apps like FanDuel, DraftKings, and BetMGM.
Frequently Asked Questions
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