Free odds calculator
Parlay Calculator: Combined Odds, Payout and Break-Even
By DeepChamp research team · Updated · Methods and limitations
Short answer
A parlay multiplies the decimal odds of every leg, so the payout is large but every leg has to win. Add your legs and stake to see the combined odds, the payout, and the break-even probability that all legs hit.
Parlay calculator
| Combined American odds | +775 |
|---|---|
| Combined decimal odds | 8.750 |
| Payout if every leg wins | $875.00includes your stake |
| Profit if every leg wins | $775.00 |
| Break-even probability for all legs | 11.43%3 legs must all win |
Assumes the legs are independent. Legs from the same game can be correlated and are priced differently.
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Download on the App StoreHow to use it
- 1Enter the American odds for each leg, adding or removing legs as needed.
- 2Enter your stake.
- 3Read the combined American and decimal odds, the payout and the profit if every leg wins.
- 4Check the break-even probability: it is the chance that all legs win together that the parlay price implies.
How the math works
Because the legs multiply, a parlay at standard prices pays less than the true odds of everything winning together. Each leg carries its own margin and the margins compound, so the more legs you add, the larger the combined margin becomes.
The calculator assumes the legs are independent. Legs from the same game can be correlated, and operators price correlated combinations differently, so do not assume the combined figure applies to a same-game parlay.
- Combined decimal odds
- combined = d1 x d2 x ... x dn
- Payout
- payout = stake x combined
- Break-even probability
- probability = 1 / combined
Common questions
How do you calculate parlay odds?
Convert each leg to decimal odds, multiply them together, and convert the product back to American odds if you want. A stake multiplied by the combined decimal odds is the total payout, including the stake.
Why are parlays harder to win than they look?
Every leg must win, so the chance of the whole slip is the product of the individual chances. Even when each leg is close to a coin flip, the combined chance falls quickly as legs are added, while the margin on each leg compounds.
Does the calculator work for same-game parlays?
It multiplies the prices you enter, which treats the legs as independent. Same-game legs are often correlated and are priced with that in mind, so use the operator's own combined price for those slips.
This is educational research content. Examples use hypothetical numbers and are not live odds, picks, or claims about performance.
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