Parlay Payouts

Learn how to calculate parlay payouts, understand the parlay odds formula, and see payout tables to help you with some quick maths.

If you understand how parlay payouts are calculated you effectively understand parlay bets. The more selections chosen will result in higher odds while the payouts for these types of wagers can have an enormous range depending on the odds of the chosen selections. Parlay is a riskier way of betting, but it also reaps exponentially higher rewards when successfully done.

Throughout this guide, we will give multiple examples of how parlay odds and formulas are calculated.

How To Calculate a Parlay Payout

The parlay payout formula is a product of every single selection’s decimal odds. If you place a parlay bet with three selections, multiply the odds of these three selections to get the parlay odds. Finally, the parlay payout is your own stake multiplied by the parlay odds.

🤓 Let’s go with an example! You place a $100 parlay bet composed of following selections:

  • Selection A @ 2.1
  • Selection B @ 1.67
  • Selection C @ 1.85
  • Parlay Odds = 2.1 x 1.67 x 1.85 = 6.48
  • Parlay Payout = 6.48 * $100 = $648
  • Parlay Profit = $648 – $100 = $548

If you, instead, had staked $100 across the three selections ($33 on each), you would have gotten a total payout of:

  • $33 @ 2.1 = $69.30
  • $33 @ 1.67 = $55.11
  • $33 @ 1.85 = $61.05
  • Total payout = $185.46 (a lot less than with a parlay!)
parlay betting slip
Example of a parlay betting slip, compared to the equivalent single straight bets.

The parlay payout formula might not always be easy to calculate manually, especially with multiple floating values, but the concept is actually simple to understand. The money from each selection accumulates until we know the final payout. Meaning that if we are successful with one selection this money will then move on to the next selection and will be placed at the odds of that chosen selection. This step will be repeated for every selection.

A simple way of working this out is by converting all the odds into decimals and multiplying all of these odds together.

How Much Does a Parlay Bet Pay?

Once you are familiar with the concept of parlay bets you will understand why this question can be flipantly answered with ‘how long is a piece of string’?

The truth is you could add selections to your bet slips where the odds are extremely low meaning that you would only return a small percentage of your stake. On the other hand, you could choose astronomical odds and become rich from just a $1 stake.

In the examples below we are going to presume we have wagered $100 every time. We will provide the odds for each selection and tell you what the bet would payout if you grouped them together as a parlay bet compared to if you bet on them individually.

3-Team Parlay Payout

The payout for a three-team parlay bet is determined by the odds of three selections. For this bet, we have decided to select moderately high odds.

OddsPayout (individual bet)Profit
Selection 1: 2.5$250$150
Selection 2: 2.0$200$100
Selection 3: 2.0$200$100
Parlay odds: 10.0$1,000$900
Examples of three-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed three separate $100 bets on each selection then we would be set to make a $350 profit. This amount goes all the way up to $900 if we placed $100 on a single parlay bet.

4-Team Parlay Payout

The payout for a four team parlay bet is determined by the odds of four selections. For this bet, we have decided to select moderately high odds.

OddsPayout (individual bet)Profit
Selection 1: 1.4$140$40
Selection 2: 1.7$170$70
Selection 3: 2.5$250$150
Selection 4: 1.25$125$25
Parlay Odds: 7.4375$743.75$643.75
Examples of four-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed four separate $100 bets on each selection then we would be set to make a $285 profit. This amount goes all the way up to $643.75 if we placed $100 on a single parlay bet.

5-Team Parlay Payout

The payout for a five team parlay bet is determined by the odds of five selections. On this bet we have decided to select odds of 1.5 for all of our selections.

OddsPayout (individual bet)Profit
Selection 1: 1.5$150 $50
Selection 2: 1.5$150$50
Selection 3: 1.5$150$50
Selection 4: 1.5$150$50
Selection 5: 1.5$150 $50
Parlay Odds: 7.5938$759.38 $659.38
Examples of five-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed five separate $100 bets on each selection then we would be set to make a $250 profit. This amount goes all the way up to $759.38 if we placed $100 on a single parlay bet.

6-Team Parlay Payout

The payout for a six team parlay bet is determined by the odds of six selections.

OddsPayout (individual bet)Profit
Selection 1: 2.5$150$50
Selection 2: 1.75$175$75
Selection 3: 1.5$150$50
Selection 4:1.4$140$40
Selection 5: 1.4$140$40
Selections 6: 1.4$140$40
Parlay Odds: 18.0$1,800$1700
Examples of six-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed six separate $100 bets on each selection then we would be set to make a $295 profit. This amount goes all the way up to $1700 if we placed $100 on a single parlay bet.

7-Team Parlay Payout

The payout for a seven-team parlay bet is determined by the odds of seven selections. Because the chances of winning a bet with this many selections are unlikely we have decided to choose moderately low odds.

OddsPayout (individual bet)Profit
Selection 1: 1.5$150$50
Selection 2: 1.75$175$75
Selection 3: 1.25$125$25
Selection 4: 1.25$125$25
Selection 5: 1.5$150$50
Selection 6: 1.4$140$40
Selection 7: 1.4$140$40
Parlay Odds: 12.05$1,205 $1105
Examples of seven-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed seven separate $100 bets on each selection then we would be set to make a $305 profit. This amount goes all the way up to $1105 if we placed $100 on a single parlay bet.

8-Team Parlay Payout

The payout for an eight team parlay bet is determined by the odds of eight selections. Because the chances of winning a bet with this many selections is unlikely we have decided to choose moderately low odds.

OddsPayout (individual bet)Profit
Selection 1: 1.4$140$40
Selection 2: 1.5$150$50
Selection 3: 1.25$125$25
Selection 4: 1.5$150$50
Selection 5: 1.4$140$40
Selection 6: 1.2$120$20
Selection 7: 1.2$120$20
Selection 8: 1.2$120$20
Parlay Odds: 9.52$952$852
Examples of eight-team parlay payouts (for a $100 bet).

The table above shows us that if we had placed eight separate $100 bets on each selection then we would be set to make a $265 profit. This amount goes all the way up to $852 if we placed $100 on a single parlay bet.

After this, you should have a better understanding of how parlay payouts are calculated. Now you know the maths behind them you can focus on how or if you want to use this type of wager. We have parlay-specific guides on our website that go into great detail on how we can use parlay bets to our advantage.