Parlay Payout Chart: Quick Reference Table for 2–16 Leg Parlays
- Greg Kajewski
- Dec 18, 2025
- 13 min read
Looking to understand parlay payouts? Here's the core idea: A parlay combines multiple bets into one, where every selection (or "leg") must win to cash out. This high-risk, high-reward approach multiplies odds, drastically increasing the potential payout with each added leg.
Key Takeaways:
Parlay odds multiply (not add), leading to exponential payout growth as you increase the number of legs.
A 2-leg parlay at -110 odds pays about +264, while a 10-leg parlay could hit +64,330.
Risk increases sharply: A 2-leg parlay has a 27.5% win probability, but a 10-leg parlay drops to just 0.2%.
Sportsbooks profit more from parlays due to compounded margins, offering payouts below true odds.
Quick Facts:
$100 on a 3-leg parlay (-110 odds) pays $697 total.
16-leg parlays can offer payouts exceeding $3 million but carry less than a 0.003% chance of winning.
Mixed-odds parlays (e.g., combining -150 and +200) affect both payouts and probabilities - use a parlay calculator for accuracy.
This guide explains how payouts work, why sportsbooks promote parlays, and how to calculate returns for standard and mixed-odds bets. Use this knowledge to make smarter betting choices and weigh risk versus reward effectively.
The Math Behind Parlays - Profitable Sports Betting Strategies
Standard -110 Parlay Payout Chart
If you're diving into parlay betting, understanding standard –110 odds is essential. These odds are a staple in U.S. sports betting, particularly for point spreads and totals in sports like football and basketball. With –110 odds, you're wagering $110 to win $100 - or roughly $1.10 to win $1. This setup helps bettors gauge potential returns on common bet types.
Breaking Down –110 Odds
When you see –110 in American odds, it translates to 1.909 in decimal odds. The negative sign shows how much you need to stake to win $100. For example, a $100 bet at –110 odds returns about $190.91 total - your original $100 plus $90.91 in profit.
Why –110? It’s all about the sportsbook’s margin, often called the "vig" or "juice." While a true 50/50 outcome would pay at even money (+100), sportsbooks use –110 odds to ensure they profit regardless of the result.
2–16 Leg Payout Table
The table below illustrates how payouts grow with each additional leg in a parlay. It uses standard –110 decimal odds (1.909) for calculations, showing the corresponding American odds, implied probabilities, and potential returns for $10 and $100 bets.
Legs | Decimal Odds | American Odds | Implied Probability | $10 Returns | $100 Returns |
2 | 3.64 | +264 | 27.5% | $36.40 | $364.00 |
3 | 6.97 | +597 | 14.4% | $69.70 | $697.00 |
4 | 13.30 | +1230 | 7.5% | $133.00 | $1,330.00 |
5 | 25.40 | +2440 | 3.9% | $254.00 | $2,540.00 |
6 | 48.50 | +4750 | 2.1% | $485.00 | $4,850.00 |
7 | 92.60 | +9160 | 1.1% | $926.00 | $9,260.00 |
8 | 176.80 | +16,680 | 0.6% | $1,768.00 | $17,680.00 |
9 | 337.50 | +33,650 | 0.3% | $3,375.00 | $33,750.00 |
10 | 644.30 | +64,330 | 0.2% | $6,443.00 | $64,430.00 |
11 | 1,230.00 | +122,900 | 0.08% | $12,300.00 | $123,000.00 |
12 | 2,348.00 | +234,700 | 0.04% | $23,480.00 | $234,800.00 |
13 | 4,483.00 | +448,200 | 0.02% | $44,830.00 | $448,300.00 |
14 | 8,558.00 | +855,700 | 0.01% | $85,580.00 | $855,800.00 |
15 | 16,337.00 | +1,633,600 | 0.006% | $163,370.00 | $1,633,700.00 |
16 | 31,187.00 | +3,118,600 | 0.003% | $311,870.00 | $3,118,700.00 |
As you can see, implied probability drops sharply with each additional leg. A 2-leg parlay gives you roughly a 1 in 4 chance of hitting, while a 10-leg parlay has odds closer to 1 in 500. While the payouts are enticing, the chances of winning decrease significantly as you add more legs.
Using the Chart to Plan Bets
To use this chart, start by identifying the row that matches the number of legs in your parlay. For instance, if you're placing a 3-leg parlay with all –110 odds, here’s what to expect:
Decimal Odds: 6.97
American Odds: +597
Implied Probability: 14.4%
$10 Bet Returns: $69.70 total
$100 Bet Returns: $697.00 total
This means a $100 wager would return $697 total, netting you a $597 profit. The 14.4% implied probability shows that you’d need to win about 1 in 7 of these parlays to break even over time.
The $10 and $100 return columns offer quick reference points. For other amounts, you can scale accordingly - e.g., a $50 bet would return half of the $100 payout.
Mixing Odds and Other Tools
This chart assumes every leg is priced at –110 odds. In reality, you might combine different odds - like a –110 spread, a +150 moneyline, and a –200 favorite. For these cases, you can use tools like the BettorEdge Parlay Calculator to calculate exact payouts, profit, and implied probability.
Understanding how parlay payouts work can also help you spot discrepancies in sportsbook promotions. For example, a typical 3-team –110 parlay might pay 6 to 1, but the true odds are closer to 7 to 1 if each leg is a 50/50 event. This gap represents the sportsbook’s edge, and it grows as you add more legs - e.g., a 5-leg parlay’s true odds might be 31 to 1, while most sportsbooks offer closer to 20 to 1.
Use this chart as a reference point for standard –110 parlays, but always double-check payouts - especially if you’re mixing odds or chasing promotional boosts. For precise calculations, the parlay calculator is a helpful tool.
Mixed Odds Parlay Payout Examples
Mixed odds parlays add a layer of complexity to the standard –110 payout chart. These parlays combine different types of bets - moneylines, spreads, totals, and player props - each with its own odds. For instance, you might mix a –150 favorite, a +120 underdog, and a –110 spread, resulting in a unique risk-reward profile.
Why Parlays Use Mixed Odds
When building a parlay, you're not limited to a single bet type. You could combine a moneyline favorite (like Chiefs –150), a spread bet (such as Packers +3.5 at –110), and a player prop (e.g., over 250 passing yards at +120). Each market is priced independently, which changes both the payout potential and your chances of winning. Parlays with heavy favorites tend to offer lower payouts but higher probabilities of success, while those stacked with underdogs promise bigger payouts but carry much greater risk.
Sample Mixed Odds Table
The table below highlights how different combinations of mixed-odds parlays impact payouts. Each scenario reflects a unique mix of odds.
Example | Leg Odds (American) | Combined Decimal Odds | Combined American Odds | $10 Returns | $100 Returns |
2-leg mixed (small favorite + underdog) | –110, +150 | 4.77 | +377 | $47.70 | $477.00 |
2-leg mixed (two favorites) | –110, –135 | 3.32 | +232 | $33.20 | $332.00 |
3-leg mixed (favorites + spread) | –160, –110, –110 | 5.92 | +492 | $59.20 | $592.00 |
3-leg mixed (favorite + two underdogs) | –150, +120, +200 | 11.00 | +1000 | $110.00 | $1,100.00 |
4-leg underdog-heavy | +120, +140, –110, +200 | 30.25 | +2925 | $302.50 | $3,025.00 |
For example, a $100 bet on a 2-leg parlay with favorites (–110, –135) returns $332, while a 3-leg parlay with underdogs (–150, +120, +200) offers a much larger return of $1,100.
Step-by-Step Example: 3-Leg Parlay
Let’s break down a 3-leg parlay with odds of –150, +120, and +200:
Convert American odds to decimal odds:
For negative odds: Decimal = 1 + (100 ÷ |odds|).
For positive odds: Decimal = 1 + (odds ÷ 100).
–150 converts to 1.67, +120 to 2.20, and +200 to 3.00.
Calculate combined decimal odds: Multiply the decimal odds: 1.67 × 2.20 × 3.00 = 11.00.
Determine total returns: Multiply your stake by the combined decimal odds:
$10 stake: $10 × 11.00 = $110 total return.
$100 stake: $100 × 11.00 = $1,100 total return.
Convert decimal odds back to American odds: For decimals above 2.00: American odds = +100 × (decimal – 1).
11.00 converts to approximately +1000.
Reading Mixed Odds Parlays
Understanding mixed odds is crucial for evaluating how different bet combinations affect payouts and risk. For instance, the table above shows that a 2-leg parlay with –110 and +150 pays at +377 (returning $477 on a $100 bet), while a parlay with –110 and –135 pays at +232 (returning $332). That $145 difference highlights the increased risk from including the +150 underdog.
For a deeper dive into these calculations, check out our guide on how parlay payouts work. To calculate your exact returns, use the BettorEdge Parlay Calculator. You can also explore articles like how sportsbooks profit off parlays and parlay betting strategy for advanced tips.
As with any parlay, understanding the impact of mixed odds is key. Sportsbooks promote parlays heavily because the hold rate on multi-leg bets is much higher than on single bets. Adding more legs increases the gap between the true probability of winning and the payout, often leading to a house edge of 10–15% or more. By grasping how mixed odds affect both payout and probability, you can make more informed decisions about when a parlay is worth the gamble - or when it’s better to walk away.
Probability to Payout Conversion Table
Understanding how probabilities translate into payouts is key to evaluating whether a parlay offers fair value or comes with extra margin baked in.
How Probability Converts to Payouts
Implied probability represents the likelihood of a bet winning based on the odds provided. Here's how you calculate it:
For positive odds (underdogs): Probability = 100 ÷ (odds + 100)
For negative odds (favorites): Probability = -odds ÷ (-odds + 100)
Once you have the probability, fair decimal odds are simply 1 divided by the probability.
With this information, you can determine fair payouts. For example:
A 50% probability corresponds to decimal odds of 2.00, or +100. At these odds, a $100 bet would return $200 total.
A 25% probability gives fair odds of 4.00, or +300. A $100 bet would return $400 total.
A 10% probability translates to fair odds of 10.00, or about +900. A $100 bet would return $1,000 total.
A 1% probability equates to fair odds of 100.00, or roughly +9900. A $100 bet would return $10,000 total.
Here’s a quick reference table for common probabilities and their corresponding payouts:
Implied Win Probability | Fair Decimal Odds | Approx. American Odds | Total Return on $100 Stake | Net Profit on $100 Stake |
90% | 1.11 | -900 | $111.00 | $11.00 |
80% | 1.25 | -400 | $125.00 | $25.00 |
70% | 1.43 | -233 | $143.00 | $43.00 |
60% | 1.67 | -150 | $167.00 | $67.00 |
52.38% | 1.91 | -110 | $191.00 | $91.00 |
50% | 2.00 | +100 | $200.00 | $100.00 |
40% | 2.50 | +150 | $250.00 | $150.00 |
33.33% | 3.00 | +200 | $300.00 | $200.00 |
25% | 4.00 | +300 | $400.00 | $300.00 |
20% | 5.00 | +400 | $500.00 | $400.00 |
15% | 6.67 | +567 | $667.00 | $567.00 |
10% | 10.00 | +900 | $1,000.00 | $900.00 |
5% | 20.00 | +1900 | $2,000.00 | $1,900.00 |
2% | 50.00 | +4900 | $5,000.00 | $4,900.00 |
1% | 100.00 | +9900 | $10,000.00 | $9,900.00 |
These figures assume no house edge, but sportsbooks generally offer payouts below these fair values.
Using This Reference Table
This table helps you assess whether a parlay's payout aligns with its true risk. Start by calculating the combined implied probability for your parlay. For instance, if you're betting on a 3-leg parlay where each leg has a 50% chance, the combined probability is 12.5%. Fair odds for this probability fall between +900 and +567. If the sportsbook offers +800, the payout is close to fair value.
Now, compare the sportsbook's actual offer. If they're paying +600, it's below fair value. If they're offering +800, the payout is closer to fair, though the low probability still makes it a long shot.
For example, a 6-leg parlay with odds of +4000 implies a probability of around 2.44%. Use the table to compare this to fair odds for similar probabilities and see if the payout matches the risk.
Combining Charts and Calculators
To fine-tune your analysis, use this table alongside tools like the BettorEdge Parlay Calculator. Here's how to approach it:
Check the payout for your stake using the -110 or mixed odds chart.
Calculate your parlay's combined implied probability and compare it to the table to evaluate fairness.
Input your parlay's details into the BettorEdge Parlay Calculator for precise odds and payouts.
For example, if the calculator indicates your 4-leg parlay has a 7% implied probability and pays +1329, refer to the table. Fair odds for 5% are around +1900, and for 10% are about +900, so a 7% chance should yield a payout between +1300 and +1400. If the sportsbook only offers +1100, it’s underpaying relative to the risk.
This method transforms parlays from random bets into informed decisions. Adjust the number of legs, swap selections, or modify your stake to find better-priced parlays. Always compare boosted odds to the table to ensure they're worth the risk. For example, if a 3-leg parlay is boosted from +600 to +650, check if +650 aligns with fair value. Often, these boosts are more about marketing than meaningful improvement.
For more details on how parlay payouts work, check out our guide on how parlay payouts work.
Why Sportsbooks Push Parlays
Sportsbooks prominently highlight parlays because they’re a goldmine for profits. With features like boosted odds, featured picks, and easy-to-use parlay builders, they make stacking multiple bets into one ticket incredibly simple. The bottom line? Parlays are much more lucrative for sportsbooks than straight bets.
Sportsbook Hold Rates on Parlays
Let’s break it down: on a standard -110 point spread, sportsbooks keep about 4.5%–5% of the money wagered as profit after paying out winners. This margin is fairly small for single bets. But with parlays, the math shifts dramatically. Each leg of the parlay includes its own margin, and these margins compound as the odds multiply.
For instance, a 2-leg parlay at -110 odds per side would pay +300 at fair odds (if there were no vig). However, most sportsbooks pay closer to +260, giving them a larger slice of the pie. Add a third leg, and the fair odds for three 50/50 events would be about +700, but sportsbooks typically pay around +600. The more legs you add, the more the sportsbook’s edge grows. Check out the table below for a closer look at how this plays out.
Risk and Reward by Leg Count
While adding more legs increases potential payouts, it also drastically reduces your chances of winning. Here’s how the math looks for parlays at -110 odds:
Leg Count | Win Probability | Fair Payout (No Vig) | Typical Sportsbook Payout | Effective Hold |
2 legs | 25% | +300 | ~+260 | Moderate |
3 legs | 12.5% | +700 | ~+600 | High |
4 legs | 6.25% | +1500 | ~+1200 | Very High |
5 legs | ~4% | +3100 | ~+2400 | Extremely High |
Take a 5-leg parlay, for example. You’d have roughly a 1-in-25 chance of winning, but the payout you’d receive is far below the true odds, giving sportsbooks a significant advantage. Many bettors underestimate how quickly their chances of hitting all legs drop, while sportsbooks make parlay builders visually appealing and easy to use - encouraging players to aim for those big, lottery-like payouts instead of sticking to safer, single bets.
Getting Better Value With Peer-to-Peer Betting
Traditional sportsbooks thrive on these compounded margins, but peer-to-peer platforms like BettorEdge offer a different way to bet. Instead of going up against the house, you’re matched directly with other bettors in a transparent marketplace. BettorEdge charges a small, upfront fee, eliminating the hidden margins that sportsbooks bake into their odds.
Unlike traditional sportsbook grids, which embed a hefty vig in each leg, peer-to-peer platforms minimize these costs. That means the odds on each leg are closer to the actual market probabilities. For example, when building a 3-leg NFL parlay, you might find odds like -108 or -105 on BettorEdge, compared to the standard -110 elsewhere. While it might seem like a small difference, it adds up quickly when compounded across multiple legs, significantly boosting your potential payout.
This setup also gives you more control. On BettorEdge, you can set your own lines and wait for another bettor to match you, or browse existing offers to find better odds. This flexibility, paired with transparent fees, helps you build parlays without the steep house edge weighing you down. If you’re serious about improving your returns, cutting down the vig on every leg is one of the smartest moves you can make - and peer-to-peer betting makes that possible.
For a deeper dive into how sportsbooks profit from parlays, check out our guide: How Sportsbooks Profit Off Parlays.
Using the Parlay Calculator for Exact Payouts
Payout charts based on standard -110 odds can give you a rough idea, but when you're dealing with mixed odds or real-money bets, precision is key. That’s where the BettorEdge Parlay Calculator comes in handy. It provides accurate calculations tailored to your specific bets.
Main Takeaways
Here are the key points to keep in mind:
Standard -110 payout charts are only approximations.
Parlays compound the sportsbook's margin with each additional leg.
A calculator is essential for precise results, especially when adjusting stakes or combining different odds.
How to Use the BettorEdge Parlay Calculator
Using the calculator is straightforward. Here’s a step-by-step guide:
Open the Parlay Calculator.
Enter your stake amount (e.g., $20.00).
Input the American odds for each leg of your parlay.
Adjust the number of legs (up to 16) to see how payouts and probabilities change.
Click "Calculate" to view detailed results, including total payout, net profit, and implied probability.
Compare these results with the payout charts provided earlier in this article.
For instance, a $20 bet on a 4-leg parlay with odds of -110, -110, +105, and -110 produced Parlay Odds of +1326, an Implied Probability of 7.01%, a Total Payout of $285.27, and a Net Profit of $265.27.
You can experiment with different scenarios using the calculator. For example, try increasing your stake from $10 to $50 to evaluate the risk-to-reward ratio. You can also compare parlays with short favorites (e.g., -150, -160, -170) against those including underdogs (e.g., +140, +180, +220) to see how the payouts and probabilities shift. If you're a rule-based bettor, you can use implied probability to set thresholds - like avoiding parlays with less than a 10% chance of winning.
By using precise calculations, you can fine-tune your parlay strategy and manage your bankroll more effectively.
Final Tips for Bettors
Once you’ve calculated your figures, here are some tips to sharpen your parlay strategy:
Use payout charts to spot trends, but rely on the calculator for exact numbers.
Adjust your stake and the number of legs to align with your risk tolerance and expected reward.
Experienced bettors often steer clear of high-leg parlays with tiny implied probabilities. Instead, they focus on smaller, more strategic parlays that balance payout and probability.
Remember, sportsbooks typically underpay compared to true odds on parlays. While the high payouts might look appealing, they often reflect the compounded house edge. Over time, parlays tend to lose more frequently than single bets. To minimize losses, limit large parlays to a small portion of your bankroll - perhaps a fraction of your monthly betting budget - rather than making them a key part of your strategy.
Before placing any parlay bet, always verify it using the BettorEdge Parlay Calculator. This tool shows you the exact dollar risk, potential payout, and implied probability. You can even set simple rules for yourself, such as capping parlays at three legs or limiting your weekly "longshot" bets to $25. These strategies can help you stay disciplined, reduce risk, and approach betting with greater confidence.
FAQs
Why do sportsbooks promote parlay bets, and how do they make money from them?
Sportsbooks actively promote parlay bets because they bring in a much higher hold percentage - usually between 20% and 30% - compared to the modest 4% to 5% seen with single bets. Essentially, sportsbooks retain a larger portion of the money wagered on parlays, making them a lucrative option.
For bettors, parlays are tempting because they promise the possibility of huge payouts from relatively small stakes, which naturally drives more betting activity. However, the downside is the increased risk. Combining multiple bets into a single ticket drastically reduces the likelihood of winning, which ultimately works to the sportsbook's advantage.
What are some tips for reducing risk when placing parlays with mixed odds?
When building parlays with mixed odds, it's important to find a good balance in your picks. Pairing safer bets, like favorites with higher chances of winning, alongside a few underdog selections can help boost potential payouts without leaning too heavily on risky choices.
Another key tip: keep your parlay simple. The more legs you add, the greater the risk of losing. Stick to a reasonable number of selections to maintain better odds of success.
Lastly, take advantage of tools like a parlay calculator. These can help you estimate potential payouts and assess whether the risk aligns with your comfort level before placing your bet.
What happens to the chances of winning and potential payouts when more legs are added to a parlay?
When you stack more legs onto a parlay, your implied probability of winning drops. Why? Because every single leg has to hit for the entire bet to pay out. But here's the trade-off: the potential payout skyrockets. That’s because the odds for each leg are multiplied, leading to much bigger returns. This mix of higher risk and the lure of greater rewards is exactly what makes parlays so appealing - and tricky - for bettors.
