Parlay payout, step by step with decimal odds
A parlay pays the stake multiplied by the product of the decimal odds of every leg, and every leg must win. Three legs at 1.91 multiply to 1.91 x 1.91 x 1.91 = 6.967871, which rounds to 6.97. A 10.00 CAD stake would return 69.68 CAD, including the stake. The prices are hypothetical.
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- 5 FAQ
The steps
- Convert every leg to decimal odds. American +A is 1 + A/100; American -A is 1 + 100/A.
- Multiply all the decimal odds together. That is the combined odds.
- Multiply the stake by the combined odds. That is the payout, stake included.
- Subtract the stake to find the profit.
Keep full decimals until the last step. Rounding each leg first shifts the answer by a few cents.
Bottom line: a parlay multiplies the prices, so one lost leg loses the whole bet.
Example 1: three legs at 1.91
| Step | Working | Result |
|---|---|---|
| Combined odds | 1.91 x 1.91 x 1.91 | 6.967871, shown as 6.97 |
| Payout on 10.00 CAD | 10.00 x 6.967871 | 69.68 CAD |
| Profit | 69.68 - 10.00 | 59.68 CAD |
| Implied probability | 1 / 6.967871 | 14.35% |
Example 2: American odds
Take -110, +150 and -200. Decimal odds are 1.909091 (21/11), 2.50 and 1.50. Combined odds are 21/11 x 2.50 x 1.50 = 7.159091.
On a 10.00 CAD stake the payout is 71.59 CAD and the profit is 61.59 CAD. The implied probability of the whole parlay is 1 / 7.159091 = 13.97%.
Check each leg with the odds converter, and see implied probability for the percentage formula.
If a leg is cancelled
Rules for a void or cancelled leg are operator-specific. We have not yet read them for two operators, so none is stated here. If an operator's terms remove the leg and keep the rest, the arithmetic multiplies that leg by 1.00.
The margin of each leg compounds; see vig and juice. For same game parlays, see parlays and same game parlays in Canada.
How we checked
The formulas and examples are derived by us; every price is invented. Operator terms on cancelled legs are not yet quoted. More: bet types, odds and margins.
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FAQ
What is the formula for a parlay payout?
Payout = stake x the product of the decimal odds of every leg. The payout includes your stake; profit is the payout minus the stake. All legs must win.
What do three legs at 1.91 pay?
1.91 x 1.91 x 1.91 is 6.967871, which rounds to 6.97. A stake of 10.00 CAD returns 69.68 CAD, a profit of 59.68 CAD. The prices are hypothetical.
How do I calculate a parlay from American odds?
Convert each leg to decimal first: +A gives 1 + A/100 and -A gives 1 + 100/A. Then multiply the decimal odds. The converter does this for one price at a time.
What happens if one leg is cancelled?
It depends on the operator's terms, which we have not yet quoted. If an operator removes the leg, the arithmetic is the same as multiplying by 1.00 for that leg.
Does a parlay change the sportsbook's margin?
Each leg carries its own margin, and the margins compound across legs. We have not measured any operator's margin.