Parlays are a staple of sports wagering and prediction challenges because they produce outsized returns for correct multi-selection tickets. This article walks through the exact arithmetic you need to calculate a 6 leg parlay, explains how to convert American odds, and shows a full $100 example so you can reproduce the math. The method is platform agnostic: convert each leg to decimal odds, multiply decimals to form the parlay multiplier, then multiply by the stake for total payout. Where relevant, the article points out operator rules and practical checks you should run before accepting a displayed payout.

A 6 leg parlay multiplies decimal odds and multiplies the result by your stake to yield total payout.

Total payout usually includes your original stake; profit equals payout minus the stake.

Operator rules and maximums can limit theoretical parlay returns, so always check house rules.

What a 6 leg parlay is and how total payout differs from profit

A 6 leg parlay is a single combined wager made of six separate selections where every selection must win for the bet to pay. This combines the individual odds into one multiplier so the final payout can be substantially larger than any single-leg return, but the entire stake is at risk because one losing leg voids the whole bet. For a clear, stepwise definition see the Investopedia parlay guide Investopedia parlay guide.

How much does a $100 6 team parlay pay?

A $100 6 leg parlay payout depends on the decimal odds of each leg; convert each leg to decimal, multiply them to get the parlay multiplier, then multiply by 100 for total payout. Subtract 100 to get profit. Public calculators can validate the final number.

In common usage you will see two related numbers when a parlay is shown: total payout and profit. Total payout normally includes your original stake plus any winnings, while profit refers only to the winnings above your stake. Many educational pages and operator explanations use that same distinction when they show examples for parlays Wikipedia odds conversion page.

Because the math is arithmetic based and platform agnostic, the same three steps apply almost everywhere: convert each leg to decimal odds, multiply those decimals to get the parlay multiplier, then multiply that multiplier by your stake to get total payout. That simple method underlies public calculators and help articles used to validate manual results Action Network parlay math guide.

Quick note: how to read American odds for parlay math

American odds must be converted to decimal odds before you multiply them together. For positive American odds use decimal = 1 + (odds / 100). For negative American odds use decimal = 1 + (100 / |odds|). These two formulas are the standard conversion routes you will see on odds reference pages Wikipedia odds conversion page.

Conversion matters because decimal odds include the stake in the multiplier, which makes the subsequent multiplication straightforward. Decimal odds are directly multiplicative: multiplying decimals gives you the single parlay multiplier that, when multiplied by the stake, yields the total payout Investopedia parlay guide.

Minimalist 2D vector chart showing probability decline across six points illustrating a 6 leg parlay trade off between probability and payout on a dark Funded Plays style background

Short numeric examples: +150 converts to 1 + 150/100 = 2.50; -120 converts to 1 + 100/120 = 1.83. Use these decimals for each leg before multiplying them into a combined multiplier to avoid confusion with American-format arithmetic Covers parlay calculator page.

Step-by-step payout formula for a 6 leg parlay

Follow these three steps for a reproducible calculation: convert each leg to decimal odds; multiply all six decimals to get the parlay multiplier; multiply that multiplier by your stake to get total payout. If you then want profit, subtract the stake from total payout. That workflow is the same method used by tutorials and calculators that explain parlay math Action Network parlay math guide.

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Try the three-step math on a sheet or a simple calculator, then cross-check with an online parlay tool to confirm your final total payout and the profit above your stake.

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Step 1: List each leg and its American odds, then convert to decimal using the formulas above. Step 2: Multiply the six decimal values together to produce the parlay multiplier. Step 3: Multiply the multiplier by your stake to get total payout; profit is payout minus stake. This arithmetic is deterministic, so a correct conversion and correct multiplication produce the theoretical payout regardless of platform Investopedia parlay guide.

One short practical note: when programming this into a spreadsheet or calculator, keep decimals to enough precision to avoid rounding artifacts. Public parlay calculators will typically display the same result and can be used to validate your manual math Covers parlay calculator page.

Common inputs and conventions to watch for

Operators and educational pages vary in how they present payouts. Many sportsbooks show the total payout including the stake, while some lists display winnings or profit separately. That distinction is central when you compare numbers or decide whether a displayed quote already includes your stake DraftKings help center parlay overview.

Other formatting differences to watch for include odds displayed in fractional, decimal, or American format. Make sure you know which format the operator uses before you convert or enter values into a calculator, because converting from the wrong base will produce incorrect multipliers. When in doubt, work from decimal odds to keep the math straightforward Wikipedia odds conversion page.

Converting American odds to decimal with examples

Positive example: convert +200. Decimal = 1 + 200/100 = 3.00. That means a $1 stake returns $3.00 total at those decimals. Use this converted number as one factor in the parlay multiplier Wikipedia odds conversion page.

Validate three sample conversions before multiplying

+200 conversion
-150 conversion
+100 edge case

Keep conversions to two decimals

Negative example: convert -150. Decimal = 1 + 100/150 = 1.67. That shows how favorites convert to decimals below 2.00 and why multiple favorites in a parlay often still produce modest multipliers compared with combining plus-money underdogs Investopedia parlay guide.

Edge cases: +100 converts to 2.00 and -100 converts likewise to 2.00 if shown that way, because both cases represent even money in decimal format; treat these as straightforward numeric factors when they appear in legs Wikipedia odds conversion page.

Tool placement: validate calculations with a parlay calculator

Use a parlay calculator to confirm your arithmetic when you have more than a couple of legs, since multiplying many decimals can introduce small rounding errors. Public calculators replicate the same conversion and multiplication steps and are useful for a quick check against manual work Covers parlay calculator page and Action Network's parlay calculator Action Network parlay calculator.

What to cross-check: first verify each decimal conversion, then confirm the final multiplier produced by the calculator, finally check whether the calculator displays total payout or just winnings. If results differ from your manual math, recheck your conversions and the order of operations Action Network parlay math guide.

Quick question for readers to check their assumptions

Before you multiply decimals, confirm that each leg's odds and implied probability are correct and up to date. Operator odds can change up to the moment you submit the parlay, so the inputs you use determine the theoretical payout and must match the final posted odds Wikipedia odds conversion page.

Also ask whether the legs are independent. Correlated outcomes can change how an operator treats a parlay and may lead to altered rules or rejection of the bet, so check house rules when legs are linked by the same event or game DraftKings help center parlay overview.

Example calculation: How much does a $100 6 team parlay pay?

Below is a full worked example with assumed American odds for six legs. We convert each to decimal, multiply decimals to get the parlay multiplier, then multiply by a $100 stake to show total payout and profit. This mirrors the standard arithmetic approach used in educational walkthroughs Action Network parlay math guide.

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Assumed example American odds for six legs (example only): Leg 1 +150, Leg 2 -120, Leg 3 +200, Leg 4 -110, Leg 5 +130, Leg 6 -105. Step A: convert each to decimal as follows: +150 -> 2.50, -120 -> 1.83, +200 -> 3.00, -110 -> 1.91, +130 -> 2.30, -105 -> 1.95. These conversions follow the standard positive and negative formulas for American to decimal conversion Wikipedia odds conversion page.

Step B: multiply all six decimal values to find the parlay multiplier. Using the example decimals, multiplier = 2.50 * 1.83 * 3.00 * 1.91 * 2.30 * 1.95. Carrying that multiplication through produces the combined multiplier you will apply to your stake. If you prefer, validate this intermediate multiplier with a parlay calculator to confirm your arithmetic on the Funded Plays blog Funded Plays blog, or use public tools such as the Covers parlay calculator Covers parlay calculator page or the VegasInsider parlay calculator VegasInsider parlay calculator.

Step C: multiply the multiplier by the $100 stake to obtain total payout. For this set of example decimals the combined multiplier will typically produce a total payout that includes your original $100 stake. To get profit, subtract $100 from that total payout. Because the math is deterministic, any calculator or spreadsheet following the same conversion and multiplication will show the identical theoretical payout, barring rounding or operator-imposed caps Investopedia parlay guide.

To make the example concrete, work the multiplication precisely or with a calculator. If your final multiplier equals, for instance, 50.25 (example illustrative only), a $100 stake would return $5,025 total and $4,925 profit, remembering that the total payout includes the original stake. Use a public parlay tool to confirm intermediate and final numbers if you want a quick verification Covers parlay calculator page.

Probability math: how adding legs changes your chance to win

The probability that a parlay wins equals the product of the individual legs' win probabilities, assuming independence. If leg probabilities are p1 through p6, parlay win probability = p1 * p2 * p3 * p4 * p5 * p6. That fundamental identity is the reason adding legs increases potential payout while lowering the combined chance to win Wikipedia odds conversion page.

Numeric illustration: if each leg had an implied probability of 0.60 (60 percent), the six-leg parlay probability would be 0.60^6 = 0.0467, or about 4.7 percent. This shows how quickly combined probability can shrink as you add independent selections, which is the trade-off underpinning all parlays Action Network parlay math guide.

Interpretation: a much larger multiplier and potential payout comes at the cost of a much smaller chance to win. Treat parlays as high variance plays and think about them in the context of bankroll allocation and the likelihood of each selection rather than as a strategy for consistent returns Investopedia parlay guide.

House rules, maximums, and practical limits to theoretical payouts

Bookmakers and operators commonly impose limits on how many legs a parlay can contain or on the maximum payout they will accept. Those house rules mean a theoretical multiplier may exceed the operator cap, and the platform can reduce or reject payouts based on set maximums and exposure controls DraftKings help center parlay overview.

Before relying on a theoretical payout, check the operator help center or terms of service to confirm limits on leg counts, maximum returns, and any rules about correlated events. That precaution avoids surprises when a large computed multiplier exceeds the operator's allowable range BetMGM parlay explainer.

If you encounter an operator that blocks or alters a parlay due to correlation or cap issues, the usual steps are to confirm the reason in the help center, adjust your selection set to meet rules, or split selections into separate parlays if permitted. Checking early saves time and prevents rejected bets after stakes are placed DraftKings help center parlay overview.

Common mistakes and how to avoid them when calculating parlays

Confusing total payout with profit is a frequent source of error. Always note whether a displayed quote includes the stake; if it does not, you must add the stake to get the total payout. Many operator help pages and guides explicitly make this distinction to prevent misinterpretation Investopedia parlay guide.

Another common mistake is treating correlated legs as independent. If outcomes are related, a simple product of implied probabilities is not correct and some operators will reject the parlay or apply adjusted rules. When legs share underlying factors, verify operator rules and consider separate tickets or single bets instead DraftKings help center parlay overview.

Practical fixes: double-check American-to-decimal conversions, validate the multiplier with an online calculator, and confirm the operator's payout definition and maximums before committing the stake. These routine checks eliminate the majority of calculation errors and misinterpretations Covers parlay calculator page.

Practical scenarios: when a six-leg parlay might make sense

Six-leg parlays are most appropriate for low-stake, high-variance plays where the bettor understands the long odds and accepts the low probability for a large upside. Many users treat these as entertainment plays or occasional portfolio draws rather than a primary strategy for returns Investopedia parlay guide.

Another scenario is when a bettor has unusually high confidence in all six legs based on research or model conviction. Even then, bankroll considerations matter because the combined probability will usually be much lower than any individual leg's chance. Compare the opportunity cost against placing single bets or smaller parlays before deciding Wikipedia odds conversion page. Learn more in our evaluation post how Funded Plays evaluations work.

Quick checklist and final takeaways

Three-step validation checklist: verify each leg's odds and convert to decimal, multiply decimals to get the parlay multiplier, confirm the multiplier and whether payout includes the stake and check operator limits. These steps cover the most common calculation and interpretation pitfalls and reflect standard educational guidance Action Network parlay math guide.

Final takeaway: the computation for a 6 leg parlay is arithmetic based and consistent across platforms, but always verify the operator's presentation of payout and any house limits. Use a parlay calculator to validate manual math and consider probability trade-offs before placing large or frequent parlays Investopedia parlay guide. Visit Funded Plays homepage for more.

How do I calculate profit from a parlay?

Convert all legs to decimal odds, multiply them to get the parlay multiplier, multiply by your stake for total payout, then subtract the stake to get profit.

Do bookmakers always pay the theoretical parlay amount?

Not always; many operators impose leg limits or maximum payout caps, so check the help center or terms before assuming the theoretical amount applies.

Can correlated legs affect my parlay?

Yes. Correlated outcomes can be treated differently by operators and may reduce, adjust, or cause rejection of the parlay; verify house rules for correlated events.

A six-leg parlay is simple to compute yet hard to win. Use the arithmetic carefully, validate with a calculator, and respect operator limits and probability trade-offs when you allocate bankroll. If you want to practice without risking funds on unfamiliar platforms, treat small-stake parlays as education plays and confirm every conversion and operator rule first.