What Is a Parlay Bet?
A parlay (also called an accumulator) is a single bet that links two or more individual wagers together. To win the parlay, every single leg must win. If even one leg loses, the entire parlay loses. In return for this increased risk, successful parlays pay out much more than individual bets would combined.
For example: If you bet $100 on a 3-team parlay where each team is -110, and all three teams win, your payout would be approximately $596 — a profit of $496. If you had placed three separate $33 bets at -110 odds and all won, you'd profit only about $90 total.
How Parlay Odds Are Calculated
Parlay odds are calculated by converting each leg's American odds to decimal format, then multiplying all the decimal values together. For example:
Parlay Payout Chart — Common Odds
| # Legs | All -110 | All +100 | All +150 | Win Probability (all -110) |
|---|---|---|---|---|
| 2 Teams | +260 | +300 | +525 | 27.3% |
| 3 Teams | +596 | +700 | +1312 | 13.0% |
| 4 Teams | +1228 | +1500 | +3281 | 6.2% |
| 5 Teams | +2435 | +3100 | +8203 | 2.9% |
| 6 Teams | +4713 | +6300 | +20508 | 1.4% |
Best Parlay Promos Available
Most major sportsbooks now offer parlay-specific promotions to boost your winnings or protect against near-misses:
- Parlay Insurance: If one leg loses by a field goal or less, get a refund
- SGP Boosts: DraftKings and FanDuel regularly offer enhanced SGP odds
- Parlay Loyalty: BetMGM's M life Rewards points on parlay wagers
- One Leg Miss: Caesars often runs promos where missing 1 leg still pays out