Calculate combined odds, potential payout and win probability for multi-leg parlay bets.
A parlay (accumulator) combines multiple selections into one bet. All selections must win for the bet to pay out. The odds multiply together, creating much larger potential payouts — but also much lower win probability.
For example, combining three bets at 2.00 each gives combined odds of 2.00 × 2.00 × 2.00 = 8.00. A €10 bet would return €80. However, the probability of all three winning is only 12.5% (assuming 50/50 each).
Parlays are almost always negative expected value bets. The bookmaker's margin compounds with each leg added — a 5% edge per leg becomes a ~23% edge on a 5-leg parlay. They're fun, but treat them as entertainment, not a strategy.