How are betting odds calculated
Betting odds are calculated by the probability of something happening. For example, if the odds are 🌞 4-1 this suggests there is a 1 in 5 chance of winning (4+1), or calculated as 1 / (4+1) = 🌞 0.2 which means there is a 20% chance of the outcome happening. The winnings you would receive from a bet 🌞 is calculated by multiplying your stake by the odds. So a stake of £1 would pay £4 profit, plus your 🌞 stake back, which is a total return of £5.
Calculating your winnings from a single selection is fairly straight forward, however, 🌞 when placing more complex bets or multiples it’s advised you use an odds calculator.
Bet Calculator Description
Using the reliable Racing Post 🌞 Bet Calculator will allow you to work out your returns for bets like Lucky 15, Doubles, Yankee, Accumulator and much 🌞 more. With a bet calculator you can compare different outcomes of the different kinds of bets and how they may 🌞 affect your profits before you even place your bet!
How to use the free bet calculator
It’s incredibly simple to use the 🌞 betting calculator to work out your winnings. The best idea is to start at the top of the page and 🌞 work your way down through each field. Follow these simple steps to get started:
Choose your bet type Enter the stake 🌞 for your bet Select which odds format you want to use Toggle the ‘each way’ and ‘rule 4’ buttons accordingly. 🌞 Add the odds for each of your selections You’ll now be able to see your expected return and profit from 🌞 your bet
How to calculate each way bets
When placing a bet you may have the option to bet ‘each way’ which 🌞 means you will get paid out as a winner if your selection wins, but will also be paid out if 🌞 your selection fails to win but does finish in the top 3 places. An each way bet is split into 🌞 two bets, a win-only bet and a place-only bet, so be careful when placing each way bets as your stake 🌞 will effectively be doubled.
£5 each way on a selection with odds of 10/1 (⅕ the odds, 3 places) will cost 🌞 £10 in total (£5 win-only, £5 place-only). The win-only part of the bet (£5 win at 10/1) would return £55. 🌞 The place-only part of the bet (£5 place at 10/1 at ⅕ odds = 2/1) would return £10. If your 🌞 selection does win, both bets would cash and your return would be £70 including your original stake. If your selection 🌞 does not win, but does finish 2nd or 3rd, the place part of the bet would cash and your return 🌞 would be £15.
Each way place terms vary depending on the market and the bookmaker, and this will impact the odds 🌞 of your selection.
How to calculate rule 4 deductions
A rule 4 deduction is a commonly invoked rule that deducts a percentage 🌞 of punters’ winnings owing to the withdrawal of a contender in the betting market. For example, if you bet on 🌞 Horse A at 2/1, but then Horse B who is priced at 1/1 is withdrawn from the race, the bookmakers 🌞 won’t offer you the same odds on Horse A to win the race because the market needs to be re-formed. 🌞 Therefore the bookmakers will invoke a rule 4 deduction on the odds you were offered, to reduce the potential winnings 🌞 in line with what a re-formed market would look like. The rate of deductions is proportional to the offs of 🌞 the non-runner(s) at the time of the withdrawal.
Odds of withdrawn runner Rule 4 Deduction (£) 1/9 or shorter 90p 2/11 🌞 to 2/17 85p 1/4 to 1/5 80p 3/10 to 2/7 75p 2/5 to 1/3 70p 8/15 to 4/9 65p 8/13 🌞 to 4/7 60p 4/5 to 4/6 55p 20/21 to 5/6 50p Evens (1/1) to 6/5 45p 5/4 to 6/4 40p 🌞 13/8 to 7/4 35p 15/8 to 9/4 30p 5/2 to 3/1 25p 10/3 to 4/1 20p 9/2 to 11/2 15p 🌞 6/1 to 9/1 10p 10/1+ 5p or None
Benefits of Bet Calculator
At its most basic level, the purpose of bet calculators 🌞 is to assist you in comprehending the implications of your wagers and ultimately determine the potential returns you could receive 🌞 if your bet is successful. These calculators typically follow a standard procedure, where they initially prompt you to indicate the 🌞 type of bet you have made or intend to make, ranging from a single bet to more complex bets like 🌞 accumulator. Once you have input this information, the calculator will request the bet and stake amount. You will have to 🌞 repeat this process for each bet you have placed, including additional information.
What is a Bet Calculator?
A bet calculator is a 🌞 tool that is used to calculate your potential winnings of a bet or multiple bets. It can help a bettor 🌞 determine the potential payout of their wager, including the total payout and the profit that can be made. A betting 🌞 calculator can take into account a number of variables such as the type of bet, the odds of the bet, 🌞 the stake or amount of money placed on the bet, and any potential bonuses or promotions that may be available. 🌞 Overall, a bet calculator is a useful tool for bettors to help them understand the potential outcomes of their bets 🌞 and to make more informed decisions when placing bets.
Who should use a bet calculator?
A bet calculator can be helpful for 🌞 anyone who is placing bets, whether they are a beginner or an experienced bettor. It can be particularly useful for 🌞 those who are placing complex bets with multiple selections, such as accumulator bets, to make informed decisions about their bets. 🌞 Additionally, an odds calculator is a valuable tool for anyone who wants to improve their understanding of the betting process.
Popular 🌞 Bet Types Explained
Read all about the popular kinds of bets you can use within the bet calculator, how they are 🌞 composed and how they are calculated. Explained in a simple and easy way for all to understand which bets are 🌞 suitable.
What is an Accumulator Bet?
An accumulator within a bet calculator bet also known as acca or parlay is the type 🌞 of bet that combines multiple individual bets into one single wager. In order to win an accumulator bet, all the 🌞 individual bets included in the wager must win.
What is a Single Bet?
A single bet within a bet calculator is the 🌞 simplest and most common type of sports betting. It involves placing a wager on a single event or outcome, such 🌞 as a particular team to win a game, a player to score a goal, or a horse to finish first 🌞 in a race. With a single bet, you are betting on a single selection, and if your selection wins, you 🌞 receive a payout based on the odds offered by the bookmaker.
What is a Double Bet?
A double bet within a bet 🌞 calculator is a type of sports betting that involves wagering on the outcomes of two separate events or selections. Both 🌞 selections must win for the bettor to receive a payout. If one of the selections loses, the entire bet is 🌞 lost. This bet type on a betting calculator is good for bettors who are looking for a higher potential payout 🌞 than a single bet.
What is a Yankee bet?
A Yankee bet within a bet calculator is a type of multiple bet 🌞 that involves 11 separate bets on four different selections. A Yankee bet consists of 6 doubles, 4 trebles, and 1 🌞 fourfold accumulator, which means that if all four selections win, the bettor will win 11 bets. To place a Yankee 🌞 bet you must select four different outcomes or selections, for example four horses in different races or four football teams 🌞 in different matches
What is a Lucky 15 Bet?
A lucky 15 bet within a bet calculator is a type of wager 🌞 that involves making four selections and placing 15 bets in total, consisting of four singles, six doubles, four trebles and 🌞 one four-fold accumulator. This type of bet is popular in horse racing and is also used for other sports and 🌞 betting events. Since there are multiple bets involved, the total stake for a lucky 15 bet can be relatively high. 🌞 It’s important to consider the potential returns against the total cost of the bet before placing it.
What is a Lucky 🌞 31 bet?
A lucky 31 bet within a bet calculator is a type of full cover bet that involves making 31 🌞 bets across 5 selections. 10 trebles, 5 four fold accumulators, and 1 five fold accumulator. The bet is called a 🌞 ‘lucky’ 31 because it includes an additional five single bets compared to the lucky 15 bet, which covers 15 bets 🌞 across 4 selections. This type of bet is popular in horse racing and football free bets and can offer high 🌞 payouts if all five selections win.
What is a Lucky 63 bet?
A lucky 63 bet within a bet calculator is a 🌞 type of full cover bet similar to the lucky 31 bet that involves 63 bets across 6 selections. The bet 🌞 includes 6 singles, 15 doubles, 20 trebles, 15 four fold accumulators, 6 five fold accumulators and 1 six fold accumulator. 🌞 Again this bet is popular with horse racing and football free bets. However, the Lucky 63 requires a higher stake 🌞 compared to other full cover bets due to the increased number of bets.
