Parlay Calculator

How parlay odds work

Parlay odds multiply together. Each leg is converted to decimal odds, all decimals are multiplied, then the result is converted back to American format.

A 2-leg parlay at -110/-110 combines to about +264. A 3-leg parlay at -110/-110/-110 is about +596. Payouts grow exponentially with more legs.

The catch: every leg must hit for the parlay to pay. Miss one leg and the entire parlay loses. This is why parlays are high-risk, high-reward bets.

Round robin parlays explained

A round robin creates multiple smaller parlays from your selections. Instead of one risky 4-leg parlay, you can make six separate 2-leg parlays from the same 4 picks.

The advantage: more ways to win. You can miss a leg and still profit on the parlays that did not include that leg.

The tradeoff: higher total stake since you are making multiple bets. But if all legs hit, you collect on every single parlay.

Round robins are popular for bettors who like the parlay payout potential but want to reduce the all-or-nothing risk.

Round robin sizes

Common round robin formats: 2-pick from 3 legs (3 parlays), 2-pick from 4 legs (6 parlays), 3-pick from 4 legs (4 parlays), 2-pick from 5 legs (10 parlays).

The formula is combinations: n choose k. This calculator shows all possible parlays and their individual payouts.

FAQ

How do you calculate parlay odds?

Convert each leg to decimal odds, multiply all decimals together, then convert back to American. For example, two legs at decimal 1.91 each multiply to 3.65 decimal, which is about +265 American.

What is a round robin bet?

A round robin creates all possible parlays of a given size from your selections. A 3-pick round robin from 4 legs makes 4 separate 3-leg parlays. You bet the same amount on each parlay.

Why do parlays have worse expected value?

Each leg includes bookmaker vig (juice). When you multiply legs, the vig compounds. A 4-leg parlay at -110 each has roughly 18 percent total hold instead of 4.5 percent on a single bet. The house edge grows with each leg.

Should I bet parlays?

Parlays are entertainment bets with large potential payouts but negative expected value. If you want to bet parlays, keep stakes small and understand the math. This calculator helps you see the true odds and potential payouts.