Parlay / Accumulator Calculator
Calculate combined odds and payouts for multiple bets
Calculate Your Parlay
ℹ️ Parlays require 2-15 legs. More legs = higher payout but exponentially lower win probability.
What is a Parlay Bet?
A parlay (also called an accumulator or multi) combines multiple individual bets into one wager. All legs must win for the parlay to pay out. The odds multiply together, creating higher potential returns but also higher risk.
How Parlay Odds Work
Combined Decimal Odds = Leg 1 × Leg 2 × Leg 3 × ... × Leg N
Example: Three bets at 2.00, 1.50, and 3.00 odds:
Combined odds = 2.00 × 1.50 × 3.00 = 9.00
$100 bet → $900 payout ($800 profit)
Understanding Odds Formats
📊 Decimal Odds
Format: 2.50, 1.80, 3.00
Payout = Stake × Odds
Example: $100 at 2.50 = $250 payout ($150 profit)
Most common in Europe, Australia, Canada
🇺🇸 American Odds
Format: -110, +150, -200
Positive (+): Profit on $100 stake
Negative (-): Stake needed to win $100
Standard in US sportsbooks
🎲 Fractional Odds
Format: 3/1, 1/2, 5/2
Meaning: Win/Stake ratio
Example: $100 at 3/1 = $300 profit + $100 stake back
Traditional UK format
⚠️ Parlay Risk: Why Sportsbooks Love Them
One Leg Loses = Entire Bet Lost
If you have a 10-leg parlay and 9 legs win, but 1 leg loses, you lose your entire stake. No partial payouts.
Probability Compounds
Three 70% probability bets individually = 70% win rate each
Same three in a parlay = 34.3% win rate (0.7³)
Your chance of winning drops exponentially.
House Edge Multiplies
If each bet has a 5% house edge, combining them compounds the edge. The more legs, the more the house advantage grows.
Expected Value Often Negative
Even if individual bets are +EV, the parlay might not be. The multiplication of probabilities works against you more than the multiplication of odds works for you.
When Should You Use Parlays?
✅ Acceptable Uses
- Entertainment value with small stakes
- 2-3 leg parlays with strong confidence
- Correlated events (e.g., player props with game total)
- When you genuinely believe all outcomes are likely
- Promotional boosts or insurance offers
❌ Bad Uses
- 5+ leg parlays (lottery ticket gambling)
- Adding "locks" to boost odds without analysis
- Chasing losses with big parlays
- Betting your entire bankroll
- Including bets you wouldn't make individually
The Mathematics Behind Parlays
Example 1: Simple 2-Leg Parlay
Leg 1: Lakers -110 (Decimal 1.91)
Leg 2: Over 220.5 -110 (Decimal 1.91)
Combined: 1.91 × 1.91 = 3.65
$100 Bet: $365 payout, $265 profit
Individual probability: ~52.3% each = 27.4% parlay
Example 2: 3-Leg Mixed Odds
Leg 1: -150 (Decimal 1.67)
Leg 2: +120 (Decimal 2.20)
Leg 3: -200 (Decimal 1.50)
Combined: 1.67 × 2.20 × 1.50 = 5.51
$100 Bet: $551 payout, $451 profit
Example 3: Break-Even Analysis
For a 2-leg parlay at -110/-110 (3.65 decimal):
You need to win >27.4% of the time to break even
Individual bets need ~52.3% each
0.523 × 0.523 = 0.274 (27.4%)
Pro Tips for Parlay Betting
🎯 Keep It Small
Stick to 2-3 leg parlays. Each additional leg drastically reduces your win probability.
💰 Bet What You'd Bet Anyway
Only parlay bets you would confidently make as singles. Don't add "filler" legs.
📊 Calculate True Probability
Multiply individual probabilities to see your real win chance. If it's under 30%, reconsider.
🔍 Look for Correlated Bets
Some sportsbooks allow correlated parlays (e.g., QB passing yards + team total). These can offer value.
🎁 Use Promotions Wisely
Parlay insurance or odds boosts can swing EV positive. Read terms carefully.
💵 Bankroll Management
Treat parlays as high-risk. Never risk more than 1-2% of your bankroll on a single parlay.
Frequently Asked Questions
What happens if one leg of my parlay loses?
If even one leg of your parlay loses, you lose the entire bet. There are no partial payouts in standard parlays. This is why parlays are considered high-risk bets—the more legs you add, the more likely you are to have at least one losing selection.
What's the difference between a parlay and an accumulator?
They're the same thing! "Parlay" is the American term, while "accumulator" (or "acca") is the British term. Both refer to combining multiple bets into one wager where all selections must win for a payout. In Australia, they're often called "multis."
How many legs can I add to a parlay?
Most sportsbooks allow 2-15 legs in a parlay, which is what our calculator supports. However, mathematically speaking, you should rarely exceed 3-4 legs. Each additional leg dramatically reduces your win probability while only marginally increasing the payout relative to the added risk.
Why do sportsbooks love parlays?
Sportsbooks love parlays because the house edge compounds with each leg. While a single bet might have a 4-5% house edge, a parlay can effectively have a 20-30%+ edge depending on the number of legs. Plus, the attractive payouts entice recreational bettors to make riskier wagers.
What happens if one leg pushes (ties)?
When a leg pushes, most sportsbooks remove that leg from the parlay and recalculate at the reduced odds. For example, a 4-leg parlay with one push becomes a 3-leg parlay. The remaining legs still need to win for you to get paid. Some books may handle pushes differently, so check your sportsbook's rules.
Are same-game parlays different from regular parlays?
Same-game parlays (SGPs) combine multiple bets from a single game, like player props with game totals. The main difference is that the selections are correlated—if one hits, others become more or less likely. Sportsbooks adjust the odds to account for correlation, often resulting in worse value than uncorrelated parlays.
Should I use parlay insurance offers?
Parlay insurance (where you get your stake back if one leg loses) can add value, but read the terms carefully. These offers often require minimum legs (usually 4+), minimum odds per leg, and may have maximum refund amounts. Do the math—sometimes the "insurance" is already priced into worse odds.
What's the best parlay strategy?
The best parlay strategy is to keep it simple: stick to 2-3 legs maximum, only include bets you'd confidently make as singles, and treat parlays as entertainment rather than a core betting strategy. If you find yourself regularly betting 5+ leg parlays, you're essentially playing the lottery with worse odds.