Discovering how much money you stand to win on a bet can be difficult sometimes; while understanding that a 7/1 winner will return you £70 in winnings for a £10 stake is relatively easy, what happens if you’ve backed a horse £7 each way at 18/11?
Use this simple betting calculator below to work out your bet returns:
How to use the Simple Betting Calculator
Bets also get more complex when you start involving more selections, such as in Doubles, Trebles, Trixies, Patent’s and many more. What you need to remove any doubt about how much you stand to win, or are going to wager, is a simple and reliable betting calculator.
Here’s how to use it:
Step One: The Stake, Each Way and Bet Selection List
The first step of the process is to enter the basic parameters of your bet in the boxes at the top of the page.
– Stake: In this box you simply enter how much you want to bet as your Unit stake (how much it will cost you to make one bet).
– Each Way: If you want your bet to be an each way bet then tick this box.
– Bet Selection List: The final box is the drop down list of available bets. Here you have a list of twelve of the most popular bets you can make. Single, Double, Treble, Accumulator, Trixie, Patent, Yankee, Canadian, Heinz, Super Heinz, Lucky 15, Lucky 31 and Lucky 63. Simply pick which bet it is you are making from the box below and the calculator will do the rest.
Step Two: Entering the Bet Details
The next stage of the process is to enter the details of your bet and you can enter your odds in one of two formats, either as a fraction (such as 11/2) or as a decimal (3.5).
For a fractional bet enter the first number of the odds (the numerator) in the first box and the second (the denominator) in the second.
For decimal odds, simply enter the decimal odds stated for your selection in the box provided.
If you are making multiple selections in a calculation, you must use the same format odds for the calculator to work, so you cannot have a mixture of decimal and fractional odds in one calculation.
After you have entered the odds details, you can then edit the odds that each way bets are paid out.
Most often, each way bets are paid out at ¼ odds, but occasionally bookmakers may offer slightly better odds on races and this can be reflected by altering the each way price.
Of course, you don’t need to alter the each way price if you are not making an each way bet.
The final tick box, labelled 1st, is simply to indicate whether an each way bet selection finished 1st in the race. If it did, then you indicate it here by ticking the box. If it finished in the places, then you leave this box unticked.
Once you have entered the above details, click the blue Calculate button and your bet will be calculated.
Step Three: The Results
The results of the calculation are clearly displayed at the bottom of the calculator. It shows how much the bet cost you (Outlay), how much your winning bet returned in total (Returns) and how much of those returns were net profit (Profit).
Profit is calculated by subtracting your initial bet, from your returns.
– Outlay: One important thing to note about the Calculator and the Outlay box is that if you are placing a bet that contains more than one selection (such as an Each Way bet, a Patent, Trixie, Heinz, Super Heinz, Yankee, Canadian or similar) then the Outlay box will identify how much your bet will cost in total.
Remember, because these types of bets are actual multiple bets all rolled into one, to place these bet will cost the number of bets made, times your stake.
For example, in an each way bet, this is actually two bets, one for your selection to win, and one for it to be placed. As such, an each way bet is 2 x your unit stake. So if you put your stake as £10, a £10 each way bet would actually cost £20.
Things get more complicated with bets with many selections (such as Yankees, Patents and similar) where there can be upwards of 10,20 or even 50 individual bets running on the one wager.
It is a good idea to check the Outlay box therefore if you are going to use the calculator to place these types of bets in particular as they will give you a clear indication of how much they will cost.
For example a £1 Canadian bet would cost £26 to place as it is 26 different bets.