Parlays explained

A parlay links several selections into one bet. Every leg has to win, and the prices multiply. That creates big potential returns, along with a bigger built-in cost than most people realise.

How the payout works

Multiply the decimal prices together, then multiply by your stake. Three legs at 1.80, 2.00 and 1.90 give 1.80 × 2.00 × 1.90 = 6.84, so $10 returns $68.40 if all three win. If any leg loses, the whole bet loses.

The hold compounds

Each leg carries its own hold, and those multiply as well. With every leg priced at a payout of 95.5%, a typical two-way figure, here is what the whole bet is really paying:

More legs mean a much larger share of your stake goes to the sportsbook on average, which is one reason parlays are promoted so heavily.

Why the best price matters more here

Price differences compound in your favour too. Four legs that are each 5% better return 21.6% more. Because the best sportsbook often differs from leg to leg, it is worth comparing the whole bet, not one leg at a time.

Add selections to the coupon on this site and it shows what each sportsbook would pay for the full parlay, using only sportsbooks that price every leg.

Parlay insurance and boosts

Many sportsbooks offer money back if one leg lets you down, or a percentage boost on winnings. Read the terms: refunds are often paid as a bonus rather than cash, and minimum leg and price rules usually apply.

Same-game parlays combine selections from one match. Each sportsbook prices these with its own model, because the legs are connected, so they cannot be compared by multiplying prices. We do not compare them yet.

Parlays are fun, but they are a high-margin product. Only stake what you are happy to lose.