Parlay betting in New York: what a 6-leg ticket really pays

What is a parlay bet? One ticket, every leg must win

A parlay combines two or more bets into one wager. Each bet is a “leg”. The payout is far bigger than the same bets placed singly, because every leg must win for the ticket to cash.

Lose one leg and the whole parlay loses. That single rule explains why parlays pay so much, and why sportsbooks love them.

You can mix markets and sports on one ticket: a Yankees moneyline, a Giants spread and a Knicks over can all go on the same slip.

How parlay odds work: multiply, don’t add

Parlay odds are the product of each leg’s decimal odds. American odds have to be converted first.

• Minus odds: decimal = 1 + (100 ÷ odds). So -145 becomes 1 + 100/145 = 1.690.
• Plus odds: decimal = 1 + (odds ÷ 100). So +125 becomes 2.25.

Worked example: Yankees and Mets two-leg parlay

The Yankees are -145 and the Mets are -135.

1. Yankees: 1 + 100/145 = 1.690
2. Mets: 1 + 100/135 = 1.741
3. Multiply: 1.690 × 1.741 = 2.941
4. Convert back: (2.941 – 1) × 100 = +194

A $100 parlay wins $194. Two separate $100 bets would have won $68.97 and $74.07, or $143.04 combined. The parlay pays more because it is harder to hit.

Add the Bills at -250 (decimal 1.40) as a third leg: 2.941 × 1.40 = 4.118, or +312. A $100 ticket now wins $312, but only if all three teams win.

Parlay payout table: 2 to 6 legs at -110

Most spreads and totals are priced at -110 (decimal 1.909). Here is what a $100 parlay pays when every leg is -110:

Now compare that with fair odds. If each leg were a true 50/50 coin flip, a 2-leg parlay should pay +300, a 4-leg +1500 and a 6-leg +6300.

The gap is the book’s margin, and it compounds with every leg. At 6 legs you get paid +4741 on a bet that should pay +6300. That is why bigger parlays carry a bigger house edge, not a smaller one.

Parlay calculator: work out any ticket by hand

Every NY app calculates your payout on the bet slip. To check it yourself, or to price a ticket before you build it:

1. Convert each leg to decimal odds using the formulas above.
2. Multiply all the decimals together.
3. Multiply the result by your stake. That is your total return.
4. Subtract the stake. That is your profit.

Example: $20 on a 4-leg parlay at -110, +150, -200 and +120.

• Decimals: 1.909 × 2.50 × 1.50 × 2.20 = 15.75
• Total return: $20 × 15.75 = $315.00
• Profit: $295.00

To find the chance you need to break even, divide 1 by the parlay decimal. Here 1 ÷ 15.75 = 6.3%.

What happens when a parlay leg pushes or is voided?

A push does not kill your parlay. The leg is removed and the ticket is recalculated with the remaining legs.

Say you have a 3-leg parlay at -110 each (+596), and one leg pushes. The ticket becomes a 2-leg parlay at +264. If a 2-leg parlay has a leg push, it becomes a straight bet at -110.

Postponed games are usually handled the same way, but check your book’s house rules for timing limits.

Same game parlays: why the odds look smaller than you expect

A same game parlay (SGP) combines legs from one game, such as Giants moneyline, Giants -3.5 and over 41.5 points.

Here the simple multiplication breaks down. Those legs are correlated. If the Giants win comfortably, they are more likely to cover, and a high-scoring game makes the over more likely too. The book knows this and prices the combined ticket below the product of the individual legs.

That is why an SGP of three -110 legs rarely shows +596 on the slip. It is a different product with its own pricing model, not a straight multiplication.

Two practical points for New Yorkers:

• SGP odds vary widely by book. The same three legs can be priced quite differently at FanDuel, DraftKings and BetMGM. Check more than one.
• Rules may change. In November 2025 the New York State Gaming Commission began re-examining game-specific player props and same game parlays, and in February 2026 it invited leagues to request restrictions. No ban had been imposed as of that letter.

Round robins: parlays with a safety net

A round robin splits a set of picks into every possible smaller parlay. Three picks “by 2s” creates three 2-leg parlays on one ticket. At -110 each, a $10-per-parlay round robin costs $30. If two picks win, one parlay returns $36.45, so you finish $6.45 up, where a single 3-leg parlay on the same picks would have lost. If all three win, all three parlays pay $26.45 each, for $79.34 profit. The trade-off: when all three hit, a straight $30 3-leg parlay at +596 would have paid $178.74.

Which parlays make the most sense?

Parlays are a high-variance product. A few habits keep them honest:

• Fewer legs, better math. A 2-leg parlay keeps the compounded margin small. Lottery-style 8- and 10-leg tickets almost always cost you over time.
• Avoid stacking heavy favorites blindly. Three -300 favorites only pay +137 together, and one upset sinks the lot.
• Don’t parlay what you wouldn’t bet singly. A parlay of bad bets is a worse bet.
• Use the right stake. Treat a parlay stake like any other bet. Our props betting guide explains how player props behave inside SGPs.

Best NY betting apps for parlay players

All 8 live NY mobile sportsbooks take parlays and same game parlays on the NFL, NBA, MLB and NHL. Compare them side by side on our NY sportsbooks page.

• FanDuel: NY’s biggest book by 2025 revenue, according to Casinobeats, with a dedicated Same Game Parlay builder.
• DraftKings: the other giant. FanDuel and DraftKings together took 76% of NY’s 2025 revenue.
• BetMGM: the Edit My Bet tool lets you add, swap or remove legs on an open parlay before it settles.
• Caesars: parlays earn Caesars Rewards credits like any other bet.

Want to bet live legs? See our live betting guide. Keep stakes inside a budget you set in advance, and use the tools on our responsible gambling page.

Parlay betting FAQ