A 4 leg parlay is a common multi-selection wager that links four outcomes into a single ticket. This article explains the core rules, settlement edge cases, and the exact arithmetic used to calculate payouts so you can check any bet slip confidently. You will learn how sportsbooks typically handle pushes and voids, how to convert American odds to decimal form for multiplication, how the probability math works under the independence assumption, and practical decision criteria and checklists you can apply before submitting a ticket.

A 4 leg parlay combines four selections into one wager and pays only if all four win.

Convert American odds to decimals, multiply them, then multiply by your stake to find total return.

Many operators treat a push as removing that leg rather than voiding the entire parlay.

What is a 4 leg parlay?

A 4 leg parlay is a single wager that links four separate selections into one bet, and the full payout only occurs if all four selections win. Many U.S. house rules treat a push as removing that leg and reducing the parlay rather than turning the entire ticket into a loss, so bettors should expect settlement language to follow that pattern on bet slips DraftKings help center.

Unlike a single bet, which resolves on one selection, a parlay depends on the combined outcome of multiple legs; each leg contributes to the combined odds and the final return, and a single losing selection cancels the full payout. For clarity on how a parlay differs from single wagers and how outcomes are settled, consult sportsbook rule pages that explain parlay mechanics FanDuel support.

On a bet slip a parlay typically shows each leg, the stake, and the potential return as a single line item that reflects combined odds; the displayed potential return equals stake times the combined decimal odds before removing the stake to show profit, and the bet slip is the place to confirm how pushes will be handled for that ticket Action Network parlay guide.

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How sportsbooks settle 4 leg parlays: pushes, voids and house rules

A push occurs when a selection does not win or lose and is treated by many operators as a neutral outcome that removes that leg from the parlay, effectively turning a 4 leg parlay with one push into a 3 leg parlay for settlement purposes DraftKings help center.

A void usually happens when an event is canceled or an applicable market cannot be settled; in many house rule sets a voided leg is removed from the combined multiplier, while a canceled event declared after the ticket is placed may follow different timing rules in the operator's terms FanDuel support.

Because rules vary by operator, the real effect of a push or void can depend on the help-center language and the exact bet acceptance time; always check the sportsbook's settlement rules and any related regulatory guidance if you need a definitive answer for a specific ticket DraftKings help center.

How to calculate a 4 leg parlay payout

Close up digital bet slip showing a four leg parlay with American odds stake and potential return highlighted in pale yellow on a dark Funded Plays style background 4 leg parlay

Calculating a 4 leg parlay payout is a three-step process: convert each leg's American odds to decimal odds, multiply the decimals to get combined decimal odds, then multiply by the stake and subtract the stake to get profit; this workflow is the standard used by educational resources and calculators Action Network parlay odds calculator guide.

Step 1: Convert each American odd to decimal. Use the standard conversion formulas for positive and negative American odds to create decimals that can be multiplied together for a parlay calculation Investopedia parlay definition.

Step 2: Multiply the decimal odds for all four legs to get the combined decimal odds. For reproducibility, keep at least three decimal places during intermediate steps to limit rounding drift, and only round the final displayed number consistent with your sportsbook or calculator Action Network parlay guide.

How does a 4 leg parlay work?

A 4 leg parlay links four selections into a single wager that pays only if all four win; to calculate payout, convert each American odd to decimal, multiply the decimals to get combined odds, multiply by stake for total return, and subtract stake for profit. Pushes commonly remove a leg rather than void the ticket, so check operator rules.

Step 3: Multiply the combined decimal by your stake to get total return, then subtract the original stake to show net profit; many calculators show both values so you can confirm what you will receive if the parlay hits Investopedia parlay guide. For further reading on simulation and evaluation methods see how Funded Plays evaluations work.

Converting American odds to decimals and implied probability

For positive American odds, convert to decimal using decimal = 1 + odds/100, and for negative American odds use decimal = 1 + 100/|odds|; these standard formulas make decimal multiplication straightforward for parlay calculations American Gaming Association odds guide.

Implied probability is derived from American odds as well: for positive odds use 100/(odds+100), and for negative odds use |odds|/(|odds|+100); these conversions let you compare a market's implied chance to your own estimate before combining legs into a parlay Investopedia odds explanation.

Conversion matters because decimal odds are multiplicative while American odds are not, and failing to convert properly or rounding too early can change the combined multiplier enough to produce a noticeably different payout on multi-leg tickets Action Network guidance.

Probability math: how likely is a 4 leg parlay to hit?

Under the standard independence assumption, the probability that a 4 leg parlay wins equals the product of the individual win probabilities for each leg, so the combined hit rate declines quickly as you add legs Investopedia parlay probability.

The independence assumption is an idealization; when legs are correlated, for example multiple bets from the same game or market, multiplying individual implied probabilities overstates or understates the true combined chance depending on the direction of correlation, so adjust your model when correlation is present Wizard of Odds parlay math.

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To put the math in perspective, many educational guides show how the product rule operates and emphasize that the payout rises as risk compounds while the probability of a perfect ticket falls at the same time, a core tradeoff in parlay betting Investopedia parlay overview.

Common mistakes when building 4 leg parlays

A frequent error is overlooking push and void rules; bettors sometimes assume a push voids the whole ticket when the operator will instead drop the leg and recalculate the multiplier, which changes the expected payout and settlement outcome DraftKings help center.

Ignoring correlation between legs is another common mistake; pairing multiple selections tied to the same game or event can reduce the independence assumption and skew perceived probability in ways that are not reflected by simply multiplying implied probabilities Wizard of Odds parlay math.

Confusing total return with net profit and overlooking rounding differences can lead to bad stake decisions; double-check whether the displayed number on a bet slip is return including stake or profit after subtracting stake to avoid mistakes Action Network payout guide.

Decision criteria: when to include a leg and when to stop

Use a simple checklist when considering a candidate leg: compare your estimated edge versus the market's implied probability, check for correlation with existing legs, verify liquidity or market depth, and ensure adding the leg meaningfully improves combined expected value under your assumptions Investopedia parlay discussion.

Bankroll-aware stake sizing helps manage variance; because parlays raise variance, keep individual parlay stakes a small fraction of your total bankroll and avoid chasing large parlays after losses to limit behavioral risk American Gaming Association responsible play.

quick parlay estimator for four legs

use American odds as input

When correlation makes a leg inadvisable, treat the marginal addition as negative unless you can quantify positive dependence that increases combined probability; stop adding legs when the marginal expected value falls below your risk tolerance or when a leg adds only lottery-style upside without edge Wizard of Odds guidance.

Practical examples: worked 4 leg parlay calculations

Example A: four -110 legs. Convert each -110 to decimal using the negative conversion formula, giving approximately 1.909 for each leg, then multiply 1.909 by itself four times to get the combined decimal odds, which educational calculators use to derive the payout Action Network example.

Following the example, a $10 stake times the combined decimal delivers the total return, and subtracting the $10 stake gives the net profit; the commonly shown result for four -110 legs is about a 13.45 combined decimal, which many calculators reproduce when they show that the $10 stake returns roughly $134.50 in total before subtracting stake for profit Action Network calculation, or check a parlay calculator such as VegasInsider's parlay calculator.

Example B: mixed odds. Convert positive and negative American odds to decimals using the standard formulas, multiply the four decimals, then apply the stake; if a single leg pushes you would remove that leg and recalculate the multiplier as if the parlay had one fewer leg, which typically reduces the payout but still honors the remaining legs Investopedia payout method.

Parlays versus single bets: tradeoffs and variance

Parlays offer larger potential payouts from the same stake compared with single bets because decimal multipliers compound, but they also increase variance and reduce the hit rate, which makes sustained positive results more difficult to demonstrate over time Investopedia parlay overview.

From an expected value standpoint, combining individually positive-edge bets can still produce positive EV, but the low hit rate and higher variance mean that bankroll management and discipline are more important when using parlays versus single wagers Wizard of Odds EV discussion.

Limits, payout caps and responsible play for parlays

Operators commonly impose maximum payout limits or liability caps that can reduce the realized payout on large parlay returns, so check the sportsbook's stated max payout rules before assuming a ticket will pay the theoretical combined multiplier DraftKings help center.

Because parlays involve higher variance, responsible-betting guidance suggests limiting exposure, using small stake sizes relative to bankroll, and treating parlays as an occasional tool rather than a core long-term strategy American Gaming Association responsible play.

Tools and calculators to check your 4 leg parlay

A parlay calculator performs three core tasks: convert American odds to decimal, multiply decimals to get combined odds, and compute total return and net profit from a stake; many education sites offer these calculators to cross-check sportsbook math Action Network calculator, and there are standalone tools such as Action Network's parlay calculator or community writeups on the Funded Plays blog.

Validate a sportsbook payout by re-running the same American odds through an independent calculator and comparing the displayed total return; if the bet slip shows a different value, check rounding policy and whether any leg has been marked as a push or void for settlement Investopedia guide or a calculator such as Covers' parlay calculator.

Quick checklist before you place a 4 leg parlay

Confirm each leg's American odds and, if unsure, convert them to decimal to verify the multiplier you expect to see on the bet slip American Gaming Association odds guide.

Check operator push and void rules, max payout caps, and settlement language so you know how cancellations or ties will change the ticket outcome DraftKings help center.

Decide stake size relative to bankroll and confirm whether the displayed number is total return or net profit before submitting the bet, and save the ticket or screenshot for post-settlement checks Action Network payout checklist.

Summary: key takeaways about 4 leg parlays

All four legs must win for a full payout, and many U.S. operators treat a push as removing that leg and reducing the parlay instead of voiding the whole ticket; confirm the exact treatment in the operator's rule text before you place a bet DraftKings help center.

The calculation workflow is consistent: convert each American odd to decimal, multiply the decimals to get combined odds, multiply by the stake for total return, and subtract the stake to get net profit; use independent calculators to validate bet-slip math and mind rounding and max-payout caps Action Network guide.

What happens if one leg of my 4 leg parlay pushes?

In many U.S. operator rules a push removes that leg and the parlay is recalculated with one fewer leg; check your sportsbook's settlement policy to confirm.

How do I turn American odds into a parlay payout?

Convert each American odd to decimal, multiply the four decimals to get combined odds, multiply by stake for total return, then subtract stake for net profit.

Does adding a fourth leg improve my expected return?

Adding legs raises potential payout but reduces the chance to win; include a leg only if your estimated edge justifies the additional variance.

Parlays can be a useful tool for combining several opinions into a single wager, but they raise variance and require careful checking of rules and math. Use calculators to validate outcome and size stakes to match your bankroll and risk tolerance. If you want structured practice, use simulated challenges to test multi-leg forecasting and bankroll rules before placing live tickets.