You put $20 on a parlay. The slip says “potential return: $95.45.” Nice. But how much of that would actually be new money?
The answer is $75.45 in profit. The other $20 is your own stake coming back.
That distinction is easy to miss when the payout looks exciting. Let’s work through one ordinary cash parlay, without needing a spreadsheet or adding another leg.
Sources checked October 19, 2026, at 7:59 a.m. EDT. All selections, prices and stakes below are hypothetical examples, not current offers or picks. Examples assume ordinary cash bets without boosts, taxes or fees.
Start with three different numbers
Stake is the money you put at risk. Profit is what you gain if the ticket wins. Total return is the amount paid back, including your stake.
For a winning standard cash bet:
Total return = stake + profit.
Profit = total return − stake.
Sportsbooks may use labels such as “payout,” “to win” or “return.” Read what that particular label includes. BetMGM’s payout examples, for instance, explicitly include the stake in potential payout.
A $100 return on a $20 cash bet means $80 profit. A $100 profit means $120 returned. Same word problem, very different balance.
Step 1: turn each leg into a decimal
For a standard parlay priced by multiplying its individual legs, decimal odds make the arithmetic easier. They tell you the total return for each $1 staked on a winning bet.
Suppose your two selections are from separate games: a hockey team at -110 and a football team at +150. No real teams or forecasts here—just prices.
| American odds | Calculation | Decimal odds |
|---|---|---|
| -110 | 1 + (100 ÷ 110) | 1.909090… |
| +150 | 1 + (150 ÷ 100) | 2.50 |
For positive American odds, divide the number by 100, then add 1. For negative odds, divide 100 by the size of the number without its minus sign, then add 1.
The “1” represents the stake included in a winning return. It is not an extra dollar of profit. Our odds-reading guide goes deeper into what each format means.
Step 2: multiply the decimals together
Multiply the two decimal prices:
1.909090… × 2.50 = 4.772727…
That is the combined decimal price in this example. Keep the full calculator result until the end; rounding every leg first can move the final cents.
BetMGM describes the same conversion-and-multiplication method for calculating an ordinary parlay payout. The actual sportsbook’s combined offer still matters: a special payout table, boost or other pricing rule can produce a different number.
Do not add -110 and +150 together. And do not add the two single-bet profits. You are pricing one ticket that needs both results.
Step 3: multiply by the stake, then subtract it
Now apply the combined decimal price to the $20 stake:
$20 × 4.772727… = $95.45 total return, rounded to cents.
Then separate your original money from the profit:
$95.45 − $20 = $75.45 profit.
| Ticket result | Money returned | Net result |
|---|---|---|
| Both legs win | $95.45 | +$75.45 |
| Either leg loses | $0 | −$20 |
The $20 is the stake for the whole parlay. You are not putting $20 on each leg. Two separate $20 singles would risk $40, which is a different decision.
Three situations where the shortcut changes
A leg pushes. For a traditional parlay, DraftKings says a pushed selection is removed and the odds are recalculated. Applying that rule to our example, if the -110 leg pushes and the +150 leg wins, the remaining $20 bet returns $50: $30 profit plus the stake. It does not keep the original $95.45 return.
It is a same-game parlay. Standalone prices are not enough to rebuild an SGP’s payout. DraftKings says SGP odds are calculated differently. Use the final combined price shown for that ticket. If it is quoted at +300, for example, an ordinary $20 cash stake would return $80, including $60 profit. Push and void rules can also differ by sport and location.
You used a bonus bet. If the promotion excludes the bonus stake from winnings, the normal cash-return calculation overstates what comes back. A hypothetical $20 bonus bet at +300 would pay $60 under stake-not-returned terms, compared with $80 total for the cash bet. That example assumes the offer is eligible and has no other adjustments. Our bonus-bet payout guide walks through the difference.
A quick check before you place it
Look at the final combined odds, the total stake and whether the displayed amount includes your stake. If your calculation differs by more than rounding, pause and look for a changed price, a special bet type or promotional terms.
After placing a bet, the accepted receipt is the useful record. A price you saw earlier is not necessarily the one you bought.
And remember what this calculation tells you: what a winning ticket pays. It does not tell you how likely the ticket is to win or whether the price is good. Our parlay probability guide tackles that separate question.
A bigger potential payout can simply mean more things have to go right. Understanding the return is a good habit; increasing the stake to make it look more exciting is not part of the math.
For a supported slip placed elsewhere, BetSlip Live can help you import it, review the legs and follow supported live progress. Coverage varies by event and market. The app tracks bets; it does not accept wagers.