How parlays work

A parlay combines two or more bets (called legs) into one. Every leg has to win for the parlay to pay. If one leg loses, the whole parlay loses.

Why people like them

The payout multiplies. A two-leg parlay at -110 each pays about 2.6 to 1, much more than either bet alone, for the same small stake.

The catch

Each extra leg makes it harder to cash. If each leg has a 55% chance of winning, a three-leg parlay hits only about 17% of the time. Bigger payouts come with lower odds of winning.

How to price one

Convert each leg to decimal odds, multiply them together, then multiply by your stake. Our free parlay calculator does this for you.

A sensible approach

Keep parlays small relative to your bankroll, stick to a few legs and treat them as the fun part of your betting, not the foundation.