Calculate multi-leg combined odds, payout & implied probability
A parlay (accumulator) bet combines multiple selections into one wager. All legs must win for the bet to pay out. Higher risk, but small stakes can produce large returns.
Combined odds = product of each leg's decimal odds. For example, 1.80 × 2.10 × 1.50 = 5.67×. A $100 bet pays $567.
However, implied probability also multiplies, so the chance of winning drops rapidly with each leg. A 3-leg parlay typically has just a 15-25% chance of hitting.
Bookmakers love parlays because the margin on each leg compounds multiplicatively. 2% margin × 4 legs ≈ 8% effective margin. Long-term, single bets have higher expected value.