How it works
In a parlay the total odds are the product of every price, and one losing leg loses the bet. A push usually counts as odds of 1.00 (it drops out and the rest stand); check each book’s rules.
A round robin covers every combination of a given size: with 4 selections there are 6 doubles, 4 trebles and 1 four-fold. The stake you enter is per bet, so the total cost is number of bets × stake.
Trixie, Yankee, Canadian, Heinz, Super Heinz and Goliath include every combination of 2 or more selections. Patent, Lucky 15, Lucky 31 and Lucky 63 add the singles too, so they return something with just one winner.
Some bookmakers pay extra bonuses on Lucky 15/31/63 bets when only one selection or all of them win. Those bonuses vary by operator and are not included here.
Formulas
Parlay odds = o₁ × o₂ × … × oₙ (push = 1, lost = 0)Parlay return = stake × total oddsBets in a system = sum of C(n, k) for each size kSystem return = Σ stake × product of each combination
Worked example
Three legs at -125, +110, -154 with $10.00: the parlay pays +523 and returns $62.35 if all three win. If the third loses, the whole parlay is lost. With a Trixie (4 bets, $40.00 in total) and the same third leg losing, the double on the first two still returns $37.80.