How Much Does a $10 Parlay Pay? Payout Examples for 2–10 Legs
- Greg Kajewski
- 2 days ago
- 16 min read
A $10 parlay can turn small bets into big payouts - but only if every leg you bet on wins. Here's a quick breakdown of what you can expect:
2-leg parlay (-110 odds each): $36.40 payout ($26.40 profit)
3-leg parlay (-110 odds each): $69.60 payout ($59.60 profit)
5-leg parlay (-110 odds each): $253.60 payout ($243.60 profit)
10-leg parlay (-110 odds each): $6,452.00 payout ($6,442.00 profit)
Parlays multiply the odds of each individual bet, creating exponential payouts as you add more legs. However, the chances of winning drop sharply - e.g., a 10-leg parlay has less than a 0.1% chance of hitting.
Mixed-odds parlays or same-game parlays can adjust payouts based on the odds or correlation of your picks. Tools like a parlay calculator can help you see exact payouts before placing your bet.
Parlays are high-risk, high-reward. While they promise massive wins, sportsbooks profit significantly from them due to the low probability of success. Use them sparingly and balance them with single bets for a steadier betting strategy.
Calculate Your Parlay Odds Instantly If you want better payouts on your parlay, jump on into BettorEdge, a peer-to-peer marketplace helping you get better odds on bets. Further, to see any exact payouts, probabilities, or profits, use the Parlay Calculator.
PARLAY BETS EXPLAINED: Easy Money or Dangerous Trap?
Payout Examples for 2–10 Leg Parlays at -110 Odds
When it comes to calculating parlay payouts, most point spreads and totals use -110 odds. To figure out your potential winnings, convert -110 into 1.909 and raise that number to the power of the parlay's total legs. Multiply the result by your stake - say $10 - and you've got your total payout.
Here’s a breakdown of what a $10 parlay pays at different leg counts, along with the implied probability of winning. These numbers highlight why parlays are so tempting, yet so challenging to hit.
2-Leg Parlay Payouts
A 2-leg parlay is the simplest multi-leg bet. With both legs at -110 odds, you're essentially combining two coin-flip bets.
Convert -110 to 1.909.
Multiply 1.909 × 1.909 = 3.64.
Multiply the 3.64 multiplier by your $10 stake to get a $36.40 total payout ($26.40 profit).
The implied probability of winning is 25%. To break even over time, you’d need to win one out of every four 2-leg parlays. While a 25% chance might sound manageable, it’s a significant drop from the roughly 50% odds of winning a single -110 bet.
If you’re curious about other odds, a parlay calculator can help you explore exact payouts before placing a bet.
3 to 5-Leg Parlay Payouts
This is where things start to get interesting. The payouts increase sharply, but so does the difficulty of winning.
A 3-leg parlay pays $69.60 total ($59.60 profit) on a $10 bet. However, the implied probability drops to 12.5% - you’d need to win one out of every eight parlays to break even.
A 4-leg parlay offers a $132.80 total payout ($122.80 profit), with the implied probability shrinking to 6.3% - about one win in 16 attempts.
For a 5-leg parlay, the payout jumps to $253.60 total ($243.60 profit), but the win probability plummets to 3.1%, or one in 32.
Number of Legs | Total Payout | Profit | Implied Probability |
3-Leg | $69.60 | $59.60 | 12.5% |
4-Leg | $132.80 | $122.80 | 6.3% |
5-Leg | $253.60 | $243.60 | 3.1% |
As the payouts grow, the odds of winning drop significantly. A parlay calculator can help you weigh the risk and reward for different leg counts.
6 to 10-Leg Parlay Payouts
Adding more legs amplifies the multiplier effect, but it also drastically lowers your chances of winning. Once you get to 6 legs or more, you're venturing into longshot territory.
A 6-leg parlay pays $484.20 total ($474.20 profit) on a $10 bet, with a 1.6% implied probability - about one win in 63 attempts.
At 7 legs, the payout climbs to $924.40 total ($914.40 profit), but the win probability drops to 0.8%, or one in 125.
By the time you reach a 10-leg parlay, the payout skyrockets to $6,452.00 total ($6,442.00 profit). However, the implied probability is just 0.098% - about one win in 1,024 attempts.
Number of Legs | Total Payout | Profit | Implied Probability |
6-Leg | $484.20 | $474.20 | 1.6% |
7-Leg | $924.40 | $914.40 | 0.8% |
8-Leg | $1,764.70 | $1,754.70 | 0.39% |
9-Leg | $3,369.10 | $3,359.10 | 0.195% |
10-Leg | $6,452.00 | $6,442.00 | 0.098% |
These numbers show the trade-off between massive payouts and razor-thin odds. A 10-leg parlay may promise over $6,400 in profit, but you're essentially betting on 10 coin flips all landing in your favor. For most bettors, these longshot parlays are more about the thrill than a sound strategy.
If you’re serious about betting, understanding how parlay payouts work can help you make smarter choices. Whether you decide to chase big payouts or stick to fewer legs - or even single bets - knowing the numbers is key to managing your risk.
Mixed-Odds Parlay Examples
Mixed-odds parlays add a layer of complexity compared to standard -110 parlays. Instead of sticking to spreads and totals with the same odds, many bettors mix favorites, underdogs, and even-money picks on a single ticket. For instance, pairing a -150 favorite with a +250 underdog increases both the potential payout and the risk involved.
How Mixed-Odds Parlays Work
A mixed-odds parlay combines bets with varying odds - like a -110 spread, a +120 underdog moneyline, and a +250 longshot. Unlike parlays where all legs share the same odds, mixed-odds parlays require converting each leg's American odds to decimal format. You then multiply these decimal odds together to calculate the combined multiplier.
Here’s how to convert and calculate:
For positive odds (e.g., +120), divide the odds by 100 and add 1.
For negative odds (e.g., -110), divide 100 by the absolute value of the odds and add 1.
Once converted, multiply the decimal odds for all legs, then multiply the result by your stake. From the total payout, subtract your stake to determine the profit. This approach works regardless of whether you’re combining favorites, underdogs, or both. The key difference here is that each leg’s unique odds shape the overall multiplier, which directly impacts your potential payout.
Example: 3-Leg Mixed-Odds Parlay
Let’s break down a 3-leg parlay using the following picks:
Leg 1: NFL spread at -110
Leg 2: NBA moneyline at +120
Leg 3: MLB moneyline at +250
First, convert the odds to decimal format:
-110 becomes 1.909 (100 ÷ 110 + 1)
+120 becomes 2.20 (120 ÷ 100 + 1)
+250 becomes 3.50 (250 ÷ 100 + 1)
Now, multiply the decimal odds:
1.909 × 2.20 × 3.50 = 14.69
Finally, calculate the total payout for a $10 stake:
14.69 × $10 = $146.90 total payout ($136.90 profit)
Compare this to a 3-leg parlay where all legs are -110, which pays $69.60 total. By adding two underdogs, the payout more than doubles. However, the likelihood of winning drops significantly because the implied probability of hitting all three legs decreases. For example, a -110 parlay has a 12.5% chance of success, while this mixed-odds parlay has a much smaller chance due to the inclusion of two underdogs.
Now, let’s adjust the parlay by replacing the +250 underdog with a -150 favorite:
-110 converts to 1.909
+120 converts to 2.20
-150 converts to 1.667 (100 ÷ 150 + 1)
Multiply these odds:
1.909 × 2.20 × 1.667 = 7.00
For a $10 stake:
7.00 × $10 = $70.00 total payout ($60.00 profit)
By swapping the +250 underdog for a -150 favorite, the payout drops from $146.90 to $70.00. However, this change increases your chances of winning, as you’re now betting on a favorite instead of a longshot. This illustrates how the odds of each leg directly affect the payout, making it crucial to balance risk and reward when building mixed-odds parlays.
To simplify the math, you can use a parlay calculator. Input each leg’s American odds and your stake, and it will instantly compute the total payout and profit.
Here’s a quick comparison of different 3-leg parlays with a $10 stake:
Leg 1 Odds | Leg 2 Odds | Leg 3 Odds | Combined Multiplier | Total Payout | Profit |
-110 | +120 | +250 | 14.69 | $146.90 | $136.90 |
-110 | +120 | -150 | 7.00 | $70.00 | $60.00 |
-150 | -180 | -200 | 3.89 | $38.90 | $28.90 |
The last example, often called a "favorites parlay", shows what happens when you combine three short-priced favorites (-150, -180, -200). The payout is smaller - just $38.90 total ($28.90 profit) - but the probability of winning is higher, making it appealing to bettors seeking a safer option.
Mixed-odds parlays offer the flexibility to aim for big payouts or create more cautious tickets. While the math can get tricky, tools like a parlay calculator make it easy to see exactly what’s at stake and what you could win. This approach highlights how each leg’s odds shape both the payout and the probability of success, a concept that also comes into play with same-game parlays.
Same-Game Parlay Considerations
Same-game parlays bring a unique twist to betting by combining multiple wagers from a single event, creating challenges in pricing due to the way outcomes are interconnected.
What Makes Same-Game Parlays Different?
A same-game parlay (SGP) bundles bets like spreads, totals, moneylines, and player props from the same event. The main distinction between SGPs and traditional parlays lies in correlation. In a standard parlay, each event's outcome is independent of the others. But with SGPs, the outcomes are often linked. For instance, if you bet on the Chiefs -9.5 spread, Patrick Mahomes to throw over 2.5 touchdowns, and the Chiefs to score over 27.5 points, all these outcomes are tied to the same potential game scenario. A Chiefs blowout, for example, makes all three bets more likely to hit together.
Sportsbooks factor in this correlation when setting payouts. Unlike traditional parlays, where odds are simply multiplied, SGPs use advanced pricing models to adjust for the likelihood of correlated bets winning or losing together.
Correlation can work in two ways. Positive correlation occurs when bets are more likely to win together, such as a quarterback's passing yards and a receiver's catching yards in a high-scoring game. On the other hand, negative correlation happens when one outcome reduces the likelihood of another, like betting the under on a game total while also wagering on a player to score multiple touchdowns. Sportsbooks typically shorten payouts for positively correlated bets, as they represent a higher risk for the house.
The advantage of SGPs is they allow you to craft bets around a specific game script - your prediction of how the game will unfold. For example, if you expect a high-scoring shootout, you can combine the over, several player props, and a favorite to cover. While the payout may not be as high as a traditional parlay, you're betting on a cohesive narrative rather than unrelated outcomes.
Example: Same-Game Parlay Payout
Let’s take a closer look at how payouts differ for an SGP. Imagine a $10 bet on the following three legs for an NFL game between the Kansas City Chiefs and Denver Broncos:
Chiefs -9.5 spread at -110
Patrick Mahomes over 2.5 passing touchdowns at +175
Chiefs team total over 27.5 points at -125
If calculated like a traditional parlay, you’d convert the odds to decimals: -110 becomes 1.91, +175 becomes 2.75, and -125 becomes 1.80. Multiply these values, and you’d get around 9.45. A $10 stake would theoretically yield a total payout of about $94.50 ($84.50 profit).
However, sportsbooks adjust for the correlation between these bets. When you enter this SGP into a sportsbook, the actual payout might range from $60 to $70 total ($50 to $60 profit). This difference, often called the "correlation tax", reflects the premium you pay for combining bets that are more likely to win together.
Now, consider a less correlated SGP. Instead of stacking bets tied to one team, you might mix in an opposing player prop:
Chiefs -9.5 spread at -110
Denver QB over 225.5 passing yards at -110
Game total over 47.5 points at -110
This combination is less correlated since, for instance, the Denver quarterback could rack up passing yards even in a game where the Chiefs dominate. As a result, the sportsbook might price this parlay closer to a traditional one, with a payout of around $65 to $70 total.
To better understand how sportsbooks price your SGP, you can use tools like the parlay calculator. Comparing the SGP payout to a traditional parlay payout can reveal how much correlation is affecting your potential winnings, helping you refine your bet selection.
Key Takeaways for Same-Game Parlays
Sportsbooks heavily promote SGPs because they typically have higher hold percentages than standard bets or traditional parlays. While a typical spread bet might carry a 4–5% hold, SGPs often exceed 10% due to correlation adjustments. For bettors, this means SGPs are best approached as high-risk, entertainment-focused wagers rather than a strategy for consistent profit.
The key to building smarter SGPs is avoiding redundant bets that don’t add real value. Instead, focus on a few well-thought-out legs that align with your game script. Understanding how correlation impacts pricing can help you make more informed choices and avoid overpaying for bets that don’t significantly improve your chances.
For further insights into sportsbook pricing and the risks of parlays, check out this discussion on why sportsbooks promote parlays.
Why Sportsbooks Promote Parlays
Sportsbooks love to spotlight parlays in their marketing. You’ll see them featured in flashy campaigns, complete with stories of small bets turning into massive payouts. Why the focus? Simple - parlays are far more profitable for sportsbooks than single bets.
How Sportsbooks Profit from Parlays
Every bet you place includes a built-in vig, or house edge, which ensures the sportsbook makes money over time. For a standard -110 bet, the sportsbook’s hold - essentially their profit margin - hovers around 4–5%. But with parlays, the vig compounds across every leg of the bet, significantly increasing the house's advantage.
Let’s break it down. On a 3-leg parlay with -110 odds, the sportsbook’s hold jumps to about 13%. A 5-leg parlay? Around 21%. And for a 10-leg parlay, the hold skyrockets to over 37%. Now, consider the payouts: a 3-leg parlay pays roughly +596 (about a 7× multiplier on your stake), a 5-leg parlay pays around +2436 (a 25× multiplier), and a 10-leg parlay offers an eye-popping +64220 - a 643× multiplier.
But here’s the catch - the odds of winning drop dramatically. A 2-leg parlay has about a 25% chance of hitting. Add a third leg, and the probability shrinks to 12.5%. By the time you get to 5 legs, it’s just 3.1%, and for 10 legs, the chance of winning plunges to a minuscule 0.098% - less than one in a thousand.
This compounding math is why sportsbooks can afford to offer such massive payouts. Curious about your potential winnings? Try using a parlay calculator to see how the odds and hold percentages play out for your specific bet. These numbers highlight the sportsbook’s edge while tapping into the allure of big wins.
Why Parlays Are So Tempting
It’s not just the math that makes parlays irresistible - sportsbooks also tap into human psychology of parlays. The idea of turning a small bet, like $10, into thousands is undeniably thrilling. That kind of potential reward creates a powerful draw for bettors.
As illustrated earlier, while longshot bets promise huge payouts, the steep risks involved are part of what makes parlays so enticing. This taps into something behavioral economists call optimism bias. Bettors tend to focus on the massive potential rewards while downplaying the sharp decline in winning probabilities as more legs are added.
Sportsbooks know how to amplify this appeal. They showcase stories of massive parlay wins on social media, run eye-catching promotions, and provide easy-to-use tools like same-game parlay builders. These tools make it simple to stack bets and create a narrative where every outcome feels like a crucial piece of the puzzle.
Adding to the excitement is the emotional rollercoaster of following each leg of your parlay. Near-miss outcomes, where you’re tantalizingly close to a huge win, only fuel the hope that next time, it could all come together. This combination of math, psychology, and marketing makes parlays a win-win - for sportsbooks, at least.
How to Calculate Parlay Payouts
Understanding parlay payouts might seem tricky at first, but the math is pretty straightforward. Once you get the hang of the basic formula, you can estimate potential payouts - whether you're betting on a few favorites or throwing in some riskier underdogs.
Manual Calculation of Parlay Payouts
The process involves converting each leg’s odds into decimal format, multiplying those decimals together, and then applying your stake. Here’s a step-by-step breakdown:
Step 1: Convert American odds to decimal odds
To convert American odds into decimals, use the following quick rules:
For positive odds: Divide the odds by 100 and add 1.
For negative odds: Divide 100 by the absolute value of the odds and add 1.
Step 2: Multiply the decimal odds
Once you've converted the odds for each leg, multiply them together. The result is your parlay multiplier, which shows the total payout per dollar wagered.
Step 3: Calculate your payout and profit
Take the multiplier, multiply it by your stake, and subtract the original stake to find your profit.
Here’s an example of a 3-leg parlay with a $10 stake:
Leg | American Odds | Decimal Conversion |
1 | -300 | 1.33 |
2 | -200 | 1.50 |
3 | -150 | 1.67 |
Multiplier | - | 1.33 × 1.50 × 1.67 ≈ 3.33 |
$10 Payout | - | 3.33 × $10 ≈ $33.30 |
Profit | - | $33.30 − $10 ≈ $23.30 |
In this example, even though all three legs are favorites, the payout is modest - about +233 in American odds. That’s because heavy favorites don’t yield massive returns when combined. Now, compare this to a parlay with two even-money picks at +100 each. Since these convert to 2.0 in decimal odds, multiplying them (2.0 × 2.0 = 4.0) results in +300 odds, offering a bigger return for the same number of legs.
This exponential growth is part of what makes parlays so appealing, but it also explains why they’re challenging to win. For instance, a 3-leg parlay at -110 has roughly a 12.5% chance of hitting, while a 5-leg parlay drops to just 3.1%.
Challenges with Manual Calculations
While the math isn’t complicated, manual calculations can quickly become tedious. Odds like -137 or +215 can lead to rounding errors, and it’s easy to misapply the formulas or forget to subtract your stake when calculating profit. If you’re looking for speed and accuracy, tools like the BettorEdge Parlay Calculator can save you time.
Using the BettorEdge Parlay Calculator
The BettorEdge Parlay Calculator simplifies the entire process. It handles conversions, multiplications, and profit calculations instantly, while also eliminating potential errors.
Here’s how to use it:
Input the odds for each leg. Enter the American odds for all your bets, whether they’re -135, +155, or a mix of both.
Add your stake. Type in your wager amount, like $10.
Hit calculate. The calculator quickly shows your total payout and profit.
Let’s revisit the earlier 3-leg example (-300, -200, and -150 odds) with a $10 stake. Plugging these into the calculator will give you the same payout of about $33.30 and a profit of $23.30 - but in seconds instead of minutes.
The calculator’s real advantage lies in its flexibility. You can experiment with different combinations - adding a fourth leg, swapping a favorite for an underdog, or mixing odds. This allows you to compare risk and reward scenarios in moments. For example, you can see how a parlay of standard -110 bets compares to one with mixed favorites and underdogs or how adding more legs impacts your payout.
Another helpful feature is the implied probability display, which shows your parlay’s chances of winning. If your 5-leg parlay has a 3% implied probability, you’ll know you’re chasing a longshot, even if the payout looks enticing. This transparency can help you weigh whether the potential reward is worth the risk.
Double-Check Your Results
Even with a calculator, it’s good to have a rough idea of what to expect. For instance, a 4-leg parlay at -110 odds might multiply out to approximately 13.3 in decimal odds, meaning a $10 bet should pay around $133. If the calculator’s result looks way off, double-check your inputs to ensure accuracy.
Before finalizing any bet, use the BettorEdge Parlay Calculator to confirm your math, see precise payouts, and explore how changes in odds or leg count affect your returns. This tool ensures you can make informed betting decisions with confidence.
Conclusion
This guide highlights the thrill and risk of parlay betting, using a $10 parlay as an example. The allure is clear: a 2-leg parlay at standard -110 odds can pay about $26, while a 10-leg parlay might skyrocket to over $6,400 from the same $10. It’s easy to see why parlays attract millions of bettors each week with their promise of massive payouts.
But here’s the catch: with each added leg, the odds of winning drop significantly. To win, every leg has to hit - one misstep, and the entire bet is lost. On top of that, the house edge compounds with every leg, chipping away at your expected returns. Sportsbooks aren’t offering these bets out of kindness; they profit heavily from them, which is why parlays are often promoted with eye-catching ads and boosted odds. This makes it crucial to manage your risk and maintain a balanced betting strategy.
Parlays are all about high risk and high reward, trading consistent wins for the chance at a big payday. On the other hand, single bets offer steadier returns with less risk. Many savvy bettors combine the two approaches. A 2- or 3-leg parlay can add excitement without drastically hurting your chances, while straight bets help keep your bankroll more stable over time.
Before placing your next bet, take a moment to evaluate your strategy. Weigh the risks carefully and use tools like the BettorEdge Parlay Calculator to understand your odds and potential payouts. Experiment with different setups - whether it’s standard -110 bets, mixed-odds combinations, or same-game parlays. You’ll quickly see how adding or removing a single leg impacts both your payout and your chances of winning. The calculator can provide the clarity you need to make smarter, more informed decisions before locking in your bet.
FAQs
Why does the chance of winning drop as more legs are added to a parlay?
The odds of winning a parlay drop sharply as you add more legs because every single leg has to hit for the bet to succeed. With each additional leg, the likelihood of all events aligning decreases, making the bet much riskier.
Take a two-leg parlay, for instance - it might still feel within reach. But once you jump to a 10-leg parlay, the chances of hitting every outcome shrink dramatically. That's the trade-off: as the risk goes up, so does the potential payout. The higher reward is essentially a reflection of the greater gamble you're taking.
What are the pros and cons of using mixed-odds parlays compared to standard parlays?
Mixed-odds parlays bring together bets with different odds, offering the allure of bigger payouts but also introducing greater risk compared to standard parlays. Adding legs with higher odds can dramatically boost your potential winnings, but it also decreases your overall chances of success, as each additional leg increases the unpredictability.
Take a 5-leg parlay with mixed odds, for instance. While it might promise a much larger payout than a standard parlay at -110 odds, the likelihood of hitting all five legs remains quite low. The potential reward may look appealing, but it’s crucial to balance that against the risk involved and to only bet amounts you’re prepared to lose.
Knowing how the math behind parlays works - by converting odds into decimal format and multiplying them - can give you a clearer picture and help you make smarter choices when creating mixed-odds parlays.
What’s the difference between same-game parlays and traditional parlays when it comes to correlation and payouts?
Same-game parlays allow you to combine several bets within a single game, such as the point spread, player props, and total points. On the other hand, traditional parlays involve bets from different games or events.
The main distinction comes down to correlation. In same-game parlays, certain bets are often linked. For instance, if a quarterback racks up a lot of passing yards, it’s likely their top receiver will also hit a high receiving total. Sportsbooks account for this connection by adjusting the odds to reflect the higher likelihood of these related outcomes happening together.
Traditional parlays, however, don’t usually involve correlated bets. The outcomes are independent, so the payout is calculated by simply multiplying the odds of each individual leg. In contrast, same-game parlays often feature adjusted payouts to account for the relationship between bets.
