If you have been hanging around on Kalshi like us, you may have noticed that they recently added a new feature called Combos. Combos allow you to tie multiple selections together, just like a Kalshi parlay.
While it’s not referred to as a parlay, it works just like one. If this sounds like something you are excited to get into, then stick with us for a lowdown on how it all works. You can even use the ‘Popular Combos’ section if you want a few tips for what’s trending at the moment.
A standard parlay is easy to learn. It’s when you combine multiple selections into one. The Combos feature at Kalshi is no different in that sense. You can pick multiple outcomes to trade and tie them together.
When you do this, every selection must win for you to see a profit. If one of your predictions wasn’t correct, then it’s a loss.
Prices range between $0.01 and $0.99, depending on the market opinion. Correct predictions settle at $1 per contract, while incorrect trades settle at $0.
For example, the following market: “Will Manchester City win against Arsenal?” A ‘Yes’ contract is $0.54, indicating a rough probability of 54%.
If you think Manchester City will win, you would pay $0.54, and if you win, it settles at $1, and you get a profit of $0.46.
Now, let’s turn that selection into a Combo. To do this, you could add the following selections:
Despite hearing rumors that Combos are only permitted on select NFL games, this has proven to be untrue. We scoured the Kalshi app to reveal the truth, which got us thinking – what else are other traders worried about?
What Markets Is the Combo Feature Available On?
Combos are available on many different prediction markets, including Kalshi sports markets, entertainment, and elections. Kalshi adds markets to the Combo builder on a rolling basis, with many markets only becoming available closer to the event date. So, if you want to add a few additional selections to your trade, your best chances are returning a bit closer to the time.
How Do I Add Multiple Selections?
You can combine multiple selections by using the combo builder, which can be accessed from the eligible event page or live tab. Alternatively, you can tap the ‘+Combo’ button at the top of the page.
Can I Trade on Both Yes and No Outcomes?
Kalshi is a two-way market, so trades always require a pair – a ‘yes’ and ‘no’ contract to be bought. Despite this, the other side must be bought from another trader. It is not possible to take both ‘yes’ and ‘no’ contracts on a Combo.
Can I Combine Multiple Markets from The Same Game?
Yes, you can. You can opt to tie multiple markets from different games or the same game, depending on your interests. For example, you could combine Kalshi election markets, sports, and climate.
How Are Prices Calculated for Combos?
Single contracts are priced by market activity, but Combos are calculated differently. Combo prices are requested through the Request For Quote system, giving you a custom price. Quotes are then generated, which may result in a minor delay.
What Happens if My Event Is Interrupted?
Kalshi has a fair approach when things go wrong. Let’s say you trade on an outcome involving a specific player, who gets injured and doesn’t play. Your contract then resolves to its last traded price instead of $1 or $0. Your Combo isn’t refunded or canceled, but your potential profit is recalculated using the adjustments.
As we reach the end of this guide, let’s summarize a few of the key pros and cons. While there are many reasons why traders opt for using Combos, it does come with some pitfalls, which we’ll highlight below:
Kalshi recently rolled out the Combo feature, which allows traders to combine multiple event contracts into a single trade. While they aren’t referred to as parlays, it’s an easy and recognizable term to use, as Combos are pretty similar.
While adding multiple selections to your trades adds another dynamic, there is a slight delay due to the custom pricing structure. If you are ready to start utilizing the Combo feature, you can get started today by following the promotional banners on this page.
- 💵 How are combos priced at Kalshi?
Kalshi uses the Request For Quote (RFQ) system, which gives you a custom price on your Combos. As such, there may be a small delay while waiting for the quote to get returned.
- 💸 Can I sell a Combo event contract at Kalshi?
Yes, it is perfectly possible to sell your contract early before the official result comes in. Of course, this will be based on liquidity and whether or not you can find a trader who wants to buy.
- 📈 What are the fees at Kalshi?
Kalshi fees are pretty easy to calculate, thanks to an easy-to-read formula on the website. Trading fees are only charged to contracts that are matched immediately, otherwise a maker fee is applied.
- ❓ What if one selection loses in a Kalshi Combo?
If any of your outcomes are incorrect, your entire Combo fails, and you don’t receive a settlement. Each of your selections needs to win in order for you to get a payout. So, if you were on the ‘Yes’ side and one of your selections falls to the ‘No’ side, then you will receive $0.