Parlay Payout Chart: 2 to 10 Team Payouts Explained
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Understanding Parlay Payouts: How Much Does a 2 to 10 Team Parlay Pay?
A 2-team parlay at standard -110 odds pays about 2.6:1, a 5-team parlay pays about 20:1, and a 10-team parlay pays roughly 640:1, but win probability drops sharply with each added leg. Parlay betting can be lucrative, but it is also risky since all of the legs within a parlay must hit for the entire parlay ticket to be paid out.
Most sportsbooks use decimal odds for calculations, converting American odds to decimal format to determine payouts.
The most common question in parlay betting is simple: how much does it pay? The answer depends on the odds of each leg, but for standard -110 spreads and totals, the payouts follow a predictable pattern. To calculate a parlay payout, you first convert American odds to decimal odds using a formula: for positive odds, decimal = (American odds / 100) + 1; for negative odds, decimal = (100 / abs(American odds)) + 1. Once you have decimal odds for each leg, simply multiply the decimal odds together to get the combined odds. Then, multiply the combined odds by your bet amount to determine your potential winnings. The total profit is your potential winnings minus your original stake.
,According to VegasInsider’s parlay calculator, you can input your bet amount and odds to see your potential winnings, total profit, and how much will be paid if all legs win. The calculator shows both potential winnings and total profit based on the bet amount and odds. Sportsbooks automatically calculate parlay payouts for you, or you can use a parlay calculator to do it yourself.
Sportsbooks often promote parlays heavily because they generate significant revenue from them. Parlays have become more common with the introduction of Same Game Parlays, where users can add multiple outcomes of the game including team and player props to their parlay.
But most bettors want a quick reference, so we’ve built the complete payout chart below. For the full strategy behind building profitable parlays, check out our parlay betting guide.
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Introduction to Parlay Betting
Parlay betting is one of the most exciting ways to engage with sports betting, offering sports bettors the chance to combine multiple individual wagers into a single parlay bet. The main appeal of a parlay is the potential for a much higher payout compared to placing a single wager on each event. However, this comes with increased risk: for the entire parlay to win, every individual wager within it must be successful. If even one leg of your parlay loses, the entire parlay loses, and you walk away with nothing. This all-or-nothing aspect is what makes parlays both thrilling and challenging. Understanding how to calculate parlay odds and assess the risk versus reward is crucial for bettors who want to maximise their potential payout while managing their exposure. Whether you’re new to sports betting or looking to refine your strategy, learning how parlays work can help you make smarter, more informed wagers.
Standard Parlay Payout Chart (-110 Odds)
This chart shows payouts for parlays where every leg is at standard -110 odds (typical for point spreads and totals). All payouts include your original stake.
Legs | True Odds | $10 Bet Pays | $25 Bet Pays | Win Probability |
|---|---|---|---|---|
2 | +264 | $36.41 | $91.03 | 27.47% |
3 | +596 | $69.61 | $174.03 | 14.37% |
4 | +1228 | $132.84 | $332.10 | 7.52% |
5 | +2435 | $253.50 | $633.76 | 3.94% |
6 | +4741 | $484.13 | $1,210.32 | 2.06% |
7 | +9145 | $924.54 | $2,311.35 | 1.08% |
8 | +17555 | $1,765.54 | $4,413.85 | 0.56% |
9 | +33596 | $3,369.65 | $8,424.13 | 0.30% |
10 | +64178 | $6,427.82 | $16,069.56 | 0.16% |
Keep in mind that the lines offered by sportsbooks can vary, so finding the best price on your parlay can significantly impact your potential payout. Comparing lines across sportsbooks is a key strategy for maximising your returns.
Different bet types, such as parlays, teasers, and straight bets, attract bettors and are a major source of revenue for sportsbooks. Parlays, in particular, are popular because of their high potential payouts, but they also come with increased risk.
Notice how the payout roughly doubles with each additional leg, but so does the risk. A 2-team parlay wins about 27% of the time, which is reasonable. By the time you hit 5 legs, you’re winning less than 4% of the time. At 10 legs, you’re looking at roughly 1 in 625 attempts. The house edge generally increases with more teams in a parlay, often exceeding 20% for 5-leg parlays, compared to 4.55% for a standard single bet at -110.
How Parlay Payouts Are Calculated
Parlay payouts use multiplicative math, you convert each leg’s American odds to decimal odds, then multiply them all together. For a -110 bet, the decimal odds are 1.909. Two legs: 1.909 × 1.909 = 3.644 (so a $10 bet returns $36.44). Three legs: 1.909 × 1.909 × 1.909 = 6.961 (so a $10 bet returns $69.61). The multiplication means each leg compounds the previous ones, which is why payouts grow so quickly. Most sportsbooks do not allow correlated parlays, which are bets where the outcomes are linked, as these differ from standard parlays.
For mixed-odds parlays (combining favourites and underdogs), the math works the same way but the odds conversion differs. According to Action Network’s parlay payout guide, the key is converting each leg to decimal format first, then multiplying straight through. If one of the bets in your parlay is suspended or canceled, the odds for that wager are calculated at 1.00 odds.
Parlays are just one of many bet types available to bettors, and sportsbooks offer a variety of other bet types to suit different strategies.
Mixed-Odds Parlay Example
Most real parlays include legs at different odds. Here’s how a 3-leg mixed parlay calculates, using an NFL example: imagine you bet on three NFL teams with odds of -110, +150, and -200.
Leg | Odds | Decimal | Implied Prob | Running Payout ($10) |
|---|---|---|---|---|
1 | -110 | 1.909 | 52.4% | $19.09 |
2 | +150 | 2.500 | 40.0% | $47.73 |
3 | -200 | 1.500 | 66.7% | $71.59 |
Total payout on a $10 bet: $71.59. The calculation: $10 × 1.909 × 2.500 × 1.500 = $71.59. Notice how the +150 underdog leg boosts the payout significantly compared to an all -110 parlay, while the -200 favourite barely moves the needle. This is why sharp bettors avoid loading parlays with heavy favourites, they add risk without proportionally increasing the payout.
If one of the NFL games in your parlay is canceled or results in a tie, that leg is removed and your parlay payout is recalculated based on the remaining legs, reducing to the next lowest number of teams. If a leg is a tie or push, the parlay may revert to a straight bet or single bet, depending on the sportsbook’s rules.
Single Wager vs. Parlay
When deciding how to place your bets, it’s important to understand the difference between a single wager and a parlay. A single wager is a straightforward bet on one outcome, such as a team winning a game or a player reaching a certain milestone. The risk is limited to that one event, and if your prediction is correct, you win the payout based on the odds. In contrast, a parlay bet links multiple individual wagers together, requiring all of them to win for the parlay to pay out. While parlays offer a higher payout than single wagers, the risk increases with each additional leg, since every individual wager must be correct. Sports bettors often use a parlay calculator to quickly calculate the potential payout of a parlay bet, helping them determine if the risk is worth the possible reward. By comparing the odds and potential payout of a single wager versus a parlay, bettors can decide which approach best fits their strategy and risk tolerance.
Managing Risk
Managing risk is a key part of successful parlay betting, especially since the potential payout is higher but so is the chance of losing. One effective way to manage risk is by using a parlay calculator to determine the potential payout of your parlay bet and weigh it against the likelihood of winning. Sports bettors should carefully consider the probability of each individual wager within the parlay, if one leg has a particularly low chance of winning, it might be wise to remove it or swap it for a more reliable pick. Additionally, some bettors opt for a team parlay, focusing multiple bets on a single team’s performance rather than spreading risk across unrelated events. This can sometimes improve your chances, depending on the team and the matchups. By analysing each leg, using tools like a parlay calculator, and making strategic adjustments, bettors can better determine the right balance between risk and reward, increasing their chances of walking away with a win.
Why Sportsbooks Love Parlays
Sportsbooks generate a larger percentage of their revenue from parlays than from straight bets because the house edge compounds with each leg. On a single -110 bet, the house edge is roughly 4.5%. On a 2-team parlay, that edge jumps to about 10%. By 5 legs, the effective house edge can exceed 25%. Some sportsbooks also use reduced parlay odds rather than true mathematical payouts, paying +260 on a 2-team parlay instead of the true +264. That difference may seem small, but it adds up across thousands of bets. Additionally, sportsbooks often have a vig on each leg, making your payout significantly less than the true odds. In a parlay, the winnings from the first leg are wagered on the second leg, and this pattern continues for each subsequent leg.
Some sportsbooks, especially in Las Vegas, offer fixed odds parlays with unique payout structures compared to online or other sportsbooks. Users can also benefit from parlay boost tokens or odds boost promos, which enhance the potential payout of parlay bets.
This doesn’t mean parlays are always bad bets, it means you need a genuine edge on each leg to overcome the compounding house advantage. If you’re hitting 55% on individual picks (a strong win rate), your edge survives through 2-3 leg parlays. Beyond that, even a strong bettor faces diminishing returns.
Parlay Payout Tips
Keep parlays to 2-4 legs for the best risk-to-reward ratio. The payout chart makes it tempting to chase 8 or 10 leg parlays, but the win probability is too low for those to be sustainable bets. Treat anything beyond 4 legs as entertainment with small stakes.
Mix in plus-money legs. Adding one underdog at +150 to a 3-leg parlay boosts the payout substantially while only slightly reducing overall win probability. The optimal parlay structure combines a couple of -110 picks with one calculated underdog.
Compare payouts across sportsbooks. Different books offer different parlay odds, some pay true mathematical odds while others use reduced payout tables. Even a small difference in the 2-team parlay payout compounds into a meaningful edge over time. If you want help identifying value legs, AI sports betting tools can flag games where the model finds significant disagreement with the market.
Using AI Projections for Parlay Building
The payout chart tells you what parlays pay, Remi’s projections tell you which legs have the best chance of hitting. When the AI model identifies a game where the true spread should be -7 but the market is offering -3.5, that’s a high-value leg to anchor your parlay around. Building parlays from data-driven edges rather than gut feelings is the difference between entertainment betting and strategic betting. Subscribe now to find those edges and build parlays that are more than lottery tickets.
Frequently Asked Questions
How much does a 5 team parlay pay?
A 5-team parlay at standard -110 odds pays approximately +2435, meaning a $10 bet returns about $253.50 (including your original stake). The exact payout varies based on the specific odds of each leg, mixing in underdogs increases the payout while adding heavy favourites decreases it.
How is parlay payout calculated?
Convert each leg’s odds to decimal format, then multiply them all together and multiply by your stake. For -110 odds: decimal = 1.909. A 3-leg parlay: 1.909 × 1.909 × 1.909 = 6.961. A $10 bet pays $69.61 total. For positive odds like +150: decimal = 2.500. For negative odds like -200: decimal = 1.500.
Are parlay payouts the same at every sportsbook?
No. Some sportsbooks pay true mathematical parlay odds while others use reduced payout tables that shave a few percentage points off each combination. The difference can be significant on larger parlays. Always compare parlay pricing across books before placing multi-leg wagers.
What’s the most profitable number of legs for a parlay?
Two to three legs offers the best balance of increased payout and reasonable win probability. A 2-leg parlay pays about 2.6:1 with a 27% win rate, still within reach for a bettor with an edge. At 4+ legs, the win probability drops so sharply that even strong handicappers struggle to profit long-term.
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