Working out your potential winnings for your bets can be confusing. Are you using decimal, fractional, American or even Hong Kong odds? Is your stake included or not? Does Rule 4 apply? Cut through the confusion by using our exclusive free bet calculator tool, as seen below
Unless you’re a seasoned sports bettor, you may be confused about how you can work out your winnings and returns from a bet – either one you have won, or one that you hope to win. As you are interested in sport and winning money, you don’t really want to be bogged down in all the mathematics surrounding calculating your winnings and returns, in the same way you don’t personally have to calculate the overall cost of your shopping list depending on the individual items you have bought.
We all carry around mini computers in our pockets these days called phones that take the heavy burden of performing calculations, leaving us to use our grey matter on more important affairs. A patent bet calculator is just the same – it’s a cool tool you use to work out your winnings and returns from a winning bet (our tool acts as a winnings and bet return calculator). Just plug in your values, and away you go!
Betting odds are worked out by experienced betting risk assessors who accurately know how to calculate betting odds, although much of the work is now done by algorithms. Huge databases of sporting results are consulted and the competitors assessed based on a number of factors in order to come up with the probability of them being winners.
These probabilities are then converted into odds. If a competitor is assessed as having a 20 percent chance of winning, then that is a 1-in-5 chance. This becomes 5.0 in decimal odds (one chance of happening in five attempts = 5 / 1) or 4/1 in fractional odds. Once the probability rises above 50 percent, the outcome is deemed more likely to happen than not, so the odds become odds-on, or less than evens (less that 2.0 in decimal odds).
You have three options for your bet odds type – fractional, decimal and American. Below is a paragraph explaining each type.
The traditional way of representing odds in the UK. The smaller the fraction, the more fancied the competitor. Any fractional odds where the numerator (first number) is smaller than the denominator (second number) means that the competitor is ‘odds on’ and highly fancied to win.
To calculate winnings from fractional odds, you just have to do the maths (or use our free bet calculator!). A winning £10 bet at odds of 5/2 will win you (5 multiplied by £10, then divided by 2) £25.
Your stake is not included in a fractional odds returns calculation, so to calculate your full returns you need to add on your stake. From the bet above, you will get back £35 (£25 + £10 stake) in total.
Decimal odds are a popular alternative to fractional odds in the UK, mainly, we believe, because nobody likes fractions and decimal odds are easier to calculate.
In our example above, fractional odds of 5/2 would be expressed as 3.50. To translate from fractional to decimal you simply express the fraction as a decimal, and then add one. The adding of one is required as decimal odds calculate your return, as opposed to your winnings.
So, a £10 bet at 3.50 would return you £35. To calculate your profit (if you don’t want to use our free bet calculator), simply subtract your stake. We do recommend using our free bet calculator UK though, as its calculations will be flawless!
We all know Americans like to do things differently, and that includes odds representations. The way that betting odds in America are usually expressed as a three digit number, with a + or – sign. The rules are thus:
If the number is positive, then that is the amount you’d win from a £100 bet.
If the number is negative, then that is the amount of money you’d need to put on to win £100.
So, if you bet £10 at odds of +110, you’d win £11. If you get £10 at odds of -110, you’d win £9.09. American odds do not calculate your return (only your winnings), so add on your stake for your total return.
American odds are difficult to compare to fractional and decimal odds, which is why we recommend the use of our free bet calculator.
There are many different types of bet, naturally. Here is a brief explanation of all the most popular wagers placed at the best UK bookies each and every day.
The simplest bet of all – you bet on your chosen competitor to win.
You bet on your competitor to finish in the ‘place’ finishes. In horse racing this is usually four places, but it may be less if there are a small number of competitors. For greyhounds, it is two. For football and so on, there is no place finish.
A win bet and place bet combined. Half of your stake goes on the win bet, and half on the place bet. We provide an each way bet calculator here.
Two bets combined. Both must win else the overall bet loses.
Three bets combined. All must win for the overall bet to come in.
More than three bets combined. The winnings from the first bet become the stake for the second, and so on. All bets in the chain must win, else the entire acca loses.
A combined bet on four selections – three doubles and a treble.
A combined bet on four selections – six doubles, four trebles and a fourfold acca. A yankee bet does not include any singles (11 bets)
A combined bet on four competitors – four singles, six doubles, four trebles and an acca (15 bets). We have provided a Lucky 15 bet calculator here.
A combined bet on five selections – ten doubles, ten trebles, five fourfold and a fivefold acca (26 bets)
A combined bet on five selections – five singles, ten doubles, ten trebles, five fourfold acca and a single fivefold acca (31 bets).
A combined bet on six selections – 15 doubles, 20 trebles, 15 fourfold accas, 6 fivefold accas, and a sixfold acca. A heinz bet does not include singles (57 bets).
A combined bet on six selections – six singles, 15 doubles, 20 trebles, 15 fourfold accas, 6 fivefold accas, one sixfold acca (63 bets).
A combined bet on seven selections – 21 doubles, 35 trebles, 35 fourfold accas, 21 fivefold accas, 7 six fold accas and a sevenfolds acca (120 bets).
A combined bet on eight selections – 28 doubles, 56 trebles, 70 foldfold accas, 56 fivefold accas, 28 sixfold accas, eight sevenfold accas and an eightfold acca (247 bets).
As you have seen, there is a lot more to betting then just placing win bets! So that you do not have to calculator your potential winnings from a bet that has over a dozen potential smaller bets, we’ve provided a free bet calculator UK tool for most of the betting options we’ve listed above. Just click on the links below to use the tool that’s specific to your bet:
Naturally, the best way to use our free bet calculator tools is when you are using a free bet offer. Here, you stand to win money without actually using any of your own to place a bet! Note, for free bets, it’s only usually your winnings that you need to know, as your free bet stake is not commonly returned.
Here are some of the best free bet offers available at the best UK bookmakers.
A free bet calculator works in the same way the calculator on your phone works. You plug in your values (see the relevant section above) and press the 'calculate' button. If you've filled everything in correctly, then your return and profit is displayed for you.
Sure! The tool on this very page is an each way bet calculator! Just select the 'Each Way' option when you enter your values to show that you want to use the each way bet calculator, as opposed to the single bet calculator.
This bet odds calculator has mainly been designed as a horse bet calculator, but it is fine to use for other sports. Options such as 'each way' and 'rule 4' make this a very useful horse bet calculator.
It can be used as a double bet calculator, but it is easier to use as a single bet calculator. You can use our double bet calculator by clicking the link we've provided above.
Use can use decimal, fractional or American. When you want to calculate a bet, just select the bet calculator odds representation which is the most appropriate. This is how to calculate bet worth overall - make sure you calculate bet payout correctly by setting the correct bet calculator odds format, the correct bet calculator odds and your stake.