Parlay calculator: payout, real odds and the book's cut
Enter each leg's American odds and your stake. You get the payout — and the two numbers most calculators skip: the chance your ticket implies, and how much of the fair payout the book is keeping.
Implied chance includes the book's margin, so the real chance is a touch worse than this. To strip the margin out you need both sides of each market — our Fair Price Checker does exactly that.
How the math works
Every parlay is just multiplication. Convert each leg's American odds to decimal odds: for negative odds, 1 + 100 ÷ (the number); for positive odds, 1 + (the number) ÷ 100. So −110 becomes 1.909091 and +150 becomes 2.50. Multiply all the decimals together, multiply by your stake, and that's your total return, stake included.
Example: four legs at −110 on $10. Each leg multiplies your money by 1.909091, so the ticket pays 1.909091⁴ = 13.283314 × $10 = $132.83. The book will quote that as roughly +1228.
What the calculator can't see
Two things, and they both cost you money. First, every leg's price has the book's margin baked in — a −110/−110 market is really a coin flip, and a fair coin flip pays +100, not −110. That gap compounds on every leg you add. Four −110 legs imply a fair payout of $160.00 on $10; the book pays $132.83, which means it's keeping 16.98% of the fair payout. By eight legs it's keeping 31.08%.
Second, if your legs come from the same game, the book reprices the ticket as a same-game parlay — usually well below the leg-by-leg number, sometimes about half. We wrote up how same-game parlays get repriced separately.
Skip the typing. Pull the lever.
The machine builds parlays from live sportsbook lines and prints the real odds on every ticket. Free, no sign-up.
Open the parlay machine →FAQ
How do you calculate a parlay payout?
Convert each leg's American odds to decimal odds (for −110: 1 + 100/110 = 1.9091; for +150: 1 + 150/100 = 2.50), multiply all the decimals together, then multiply by your stake. That product is your total return, stake included.
How much does a $10 two-leg parlay pay at −110?
$36.45 total return ($26.45 profit). Each −110 leg multiplies your money by 21/11 = 1.909091, so two legs pay 3.644628 times your stake. Full table by leg count: how much does a parlay pay.
Why does my same-game parlay pay less than this calculator says?
Legs from the same game are correlated, so sportsbooks reprice same-game parlays below the leg-by-leg multiplication — sometimes dramatically. This calculator shows the independent-legs number; check the slip at your book for the SGP price.
Is this calculator free?
Yes. Free, no sign-up, and it is for entertainment only — it is not betting advice. 21+.