I use Bos bags to bag up each diaper, and then I have a trash can with a lid in my bathroom. I used to have neither, no bags nor covered trash can, and at that time I timed my usage so it was when the trash was nearly full and I took it out that day or the day after. Now I have more flexibility, a few days to even a week. If I sniff closely with the lid open after it's been like a week, I can smell a bit of the stink (depending how wet I used it too), but it doesn't get too bad until more days later.
I like the regular trash can with lid compared to an adult diaper pail because it is more discreet, I can keep it as my bathroom trash can when guests are over and it doesn't draw any suspicion. I think the diaper pails have added features of double lids to block more odors and some have flexible bag sizes so you can dispose of them whenever and not feel like you're wasting a trash bag. I think my added layer of the Bos bag, any plastic disposal bag, compensates for the lack of a 2nd lid in terms of odor blocking, although a 2nd lid with these plastic bags might block even more odor. And if I did have a diaper pail, since they're larger to be able to fit adult-sized diapers, it would be harder for me to be able to hide, which is why I need the hidden-in-plain-sight option.