Last updated: June 2026
How Much Does a $100 Four-Team Parlay Pay?
The short answer: a $100 four-team parlay at standard -110 odds pays $1,228.64 total — a profit of $1,128.64. But that number changes significantly depending on the odds on each leg. Here's the exact math, a full payout table, and why sportsbooks often pay less than the true calculation.
The Exact $100 Four-Team Parlay Payout at -110
Step 1: Convert -110 American odds to decimal odds.
Formula: 100 ÷ 110 + 1 = 1.9091
Step 2: Multiply all four legs together.
1.9091 × 1.9091 × 1.9091 × 1.9091 = 13.286
Step 3: Multiply the combined multiplier by your stake.
13.286 × $100 = $1,328.60 true payout
However, most major sportsbooks use a fixed payout table for parlays rather than the true multiplication. At the fixed rate, a 4-team parlay typically pays 10x to 12.28x your stake — meaning a $100 bet returns $1,000–$1,228.64.
Key fact: DraftKings and FanDuel both pay 12.28x on a 4-team -110 parlay as of 2026, making the total payout $1,228.64 on a $100 bet.
4-Team Parlay Payout Table — $100 Bet
Payouts vary by the odds on each leg. All legs at the same odds for simplicity:
| Odds Per Leg | True Multiplier | True Payout ($100) | Profit |
|---|---|---|---|
| -120 | 9.81x | $980.60 | $880.60 |
| -110 | 13.29x | $1,328.60 | $1,228.60 |
| -105 | 15.02x | $1,501.60 | $1,401.60 |
| +100 (even) | 16.00x | $1,600.00 | $1,500.00 |
| +110 | 19.45x | $1,944.81 | $1,844.81 |
| +150 | 39.06x | $3,906.25 | $3,806.25 |
* True multiplier = actual math. Sportsbooks typically pay 10x–12.28x on 4-team parlays regardless of true odds, keeping the difference.
How to Calculate Any Parlay Payout Yourself
The formula works for any number of legs and any mix of odds:
- Convert each leg to decimal odds:
- Positive odds (e.g. +150): (150 ÷ 100) + 1 = 2.50
- Negative odds (e.g. -110): (100 ÷ 110) + 1 = 1.909
- Multiply all decimal odds together to get your combined multiplier.
- Multiply the combined multiplier by your stake to get total payout.
- Subtract your stake to get profit.
Example — mixed odds 4-team parlay:
Leg 1: -110 (1.909) × Leg 2: -115 (1.870) × Leg 3: +105 (2.050) × Leg 4: -110 (1.909)
= 1.909 × 1.870 × 2.050 × 1.909 = 13.94x
$100 bet → $1,394.00 total payout ($1,294.00 profit)
Use our free parlay calculator to do this instantly for any combination.
True Payout vs. Sportsbook Payout: The Parlay Hold
This is the most important number most bettors never check.
The true 4-team parlay multiplier at -110 is 13.29x. Most major sportsbooks advertise paying 12.28x — a difference of over $100 on a $100 bet. That gap is the sportsbook's built-in margin on parlays, called the parlay hold.
For comparison:
- A single straight bet at -110 carries roughly a 4.5% house edge
- A 4-team parlay at standard payouts carries roughly a 20–30% house edge
- That's why sportsbooks heavily promote parlays — they're significantly more profitable for the house
Some books (notably DraftKings and FanDuel) offer "no-hold parlays" or "SGP+" promotions periodically that pay closer to true odds. These are genuinely better value when available.
Common 4-Team Parlay Questions
What if one leg pushes (ties)?
A push removes that leg from the parlay. A 4-team parlay with one push becomes a 3-team parlay and is recalculated at the 3-team payout.
What if I use a same-game parlay (SGP)?
SGPs use the same payout formula, but sportsbooks add extra margin for correlated legs. The effective hold on SGPs is typically higher than traditional parlays.
What's the maximum parlay payout?
Most sportsbooks cap parlay payouts at $1M–$2.5M regardless of the true calculation. DraftKings caps at $2M, FanDuel at $1M as of 2026.
Calculate Your Parlay Payout Instantly
Enter your exact odds and stake into our parlay calculator for the precise payout — no math required.
Open Parlay Calculator →Frequently Asked Questions
How much does a $100 four-team parlay pay at -110 odds?
At standard -110 on all four legs, the true mathematical payout on a $100 bet is $1,328.60 (13.29x). Most sportsbooks pay 12.28x, returning $1,228.64. The difference is the sportsbook's parlay margin.
What is the formula for calculating parlay payouts?
Convert each leg to decimal odds (positive: odds/100 + 1; negative: 100/|odds| + 1), multiply all decimal odds together, then multiply by your stake. Subtract your original stake to find profit only.
Does the sportsbook payout match the true parlay calculation?
Usually not. Most sportsbooks use a fixed payout table that pays less than the true calculation, especially on 4+ leg parlays. The gap between true and paid is the sportsbook's parlay hold — typically 20–30% on 4-team parlays.
What does a $100 four-team parlay pay if all legs are +110?
At +110 per leg, decimal odds are 2.10. Four legs: 2.10⁴ = 19.45x. A $100 bet pays $1,944.81 total ($1,844.81 profit).
Is a 4-team parlay a good bet?
From a pure expected value standpoint, no. The sportsbook hold on 4-team parlays is roughly 20–30%, far higher than the ~4.5% on a straight bet. Parlays offer entertainment value and big payouts for small stakes, but they are not a profitable long-term betting strategy.