152→ Odds
Parlays in numbers
Enter the odds of your parlay and see what it would pay, its real chance of winning and how much the bookmaker keeps as you add legs.
Your legs (decimal odds)
To collect $5,828, all 3 legs must win. Without the margin that happens about once in 7 tries.
Leg by leg
| Leg | Parlay | Chance | Margin |
|---|---|---|---|
| 1 ×1.50 | 1.50 | 63.5% | 4.8% |
| 2 ×2.10 | 3.15 | 28.8% | 9.3% |
| 3 ×1.85 | 5.83 | 14.8% | 13.6% |
Each leg adds its margin: the parlay keeps more of your money than any single bet in it.
Show the formula
Parlay odds = d1 × d2 × ... × dn = 1.50 × 2.10 × 1.85 = 5.83
Fair chance of a leg = (1 ÷ d) ÷ (1 + margin)
Fair chance of the parlay = product of the fair chances = 14.82%
Parlay margin = 1 − odds × fair chance = 13.62%
Legs are taken as independent. Two picks from the same match are not, and this formula does not apply to them.
The parlay maths
Total odds = odds 1 × odds 2 × odds 3
Example: 1.50 × 2.10 × 1.85 = 5.83. With $1,000, if all three win, you collect $5,828.
What the calculator shows
- The payoutThe odds are multiplied, and the result is multiplied by your stake. If a single leg loses, you get nothing.
- What the price saysOne divided by the total odds. In the example, 17.2%: the chance the bookmaker charges you, margin included.
- The fair chanceWe remove the margin you enter from each leg and multiply. The example gives 14.8%: once in 7 tries.
- The margin piles upEvery leg adds its own margin. That is why a parlay returns less, on average, than each single bet in it.
How much the bookmaker keeps by number of legs
| Legs | Parlay margin |
|---|---|
| 1 | 4.8% |
| 2 | 9.3% |
| 3 | 13.6% |
| 5 | 21.6% |
| 8 | 32.3% |
| 10 | 38.6% |
With a margin of 5% on every leg. The column is what each peso staked loses on average, so a single leg comes out a little below the margin.
Single bet vs parlay
Single bet
- One result has to happen
- The bookmaker takes its margin once
- Smaller payout, more often
Parlay
- Every leg has to win
- The margin multiplies with each leg
- Big payout, very rarely
Keep going
Questions
What happens if a match in my parlay is called off?
At most bookmakers that leg is voided and counts as odds of 1: the parlay goes on with the rest. Tick “Void” in the calculator to see the new payout. Always check your bookmaker's rules.
Why does a parlay pay so much?
Because it is very hard for every leg to win. The high price does not fully make up for that: the margin of each leg multiplies and ends up larger than on a single bet.
What margin should I enter per leg?
If you know the odds of every result in each match, work it out on the margin page. If not, use a reference value like the one in the example and see how the result moves.