A 3-team parlay combines three bets into one, multiplying the odds together. All three legs must win for the parlay to pay out.
How the Math Works
At standard -110 juice, each leg is implied at ~52.4% win probability. A 3-team parlay:
- True win probability: 52.4% × 52.4% × 52.4% = 14.4%
- Standard payout: 6/1 or +600
- Fair payout at true odds: ~$694 on a $100 bet
The gap between 6/1 payout and 6.94/1 fair value is the house edge — roughly 12-14% on a 3-team parlay.
Typical Payout Chart (All -110 legs)
| Teams | Odds | Payout on $100 | |———-|———|————————-| | 2 | +260 | $360 | | 3 | +600 | $700 | | 4 | +1228 | $1,328 | | 5 | +2435 | $2,535 |
When Parlays Have Value
- When legs have positive odds (+130, +150) and increase the true expected value
- When you're confident enough in multiple bets to justify the correlation risk
- Never as a primary strategy — the house edge compounds with each leg
[See the true EV on any parlay before you place it with Oddible →]
