Bet calculator – Quickly work out your sports bet returns... (original) (raw)

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• Published: 9:42, 2 May 2024
• Updated: 14:18, 9 Sep 2024

THERE are hundreds of potentially lucrative bets available online every day, but how do you know which ones they are? Lots of punters fall at the first hurdle when it comes to finding value because they don’t know how to calculate odds or determine their potential returns.

Fortunately, you don’t have to be a mathematician to find out what you could win. Our betting calculator gives you instant answers for every scenario in sports and horse racing. I’ll show you how to use our bet calculator for major events such as the Cheltenham Festival and, importantly, how it can help you make better decisions that might help you win more.

Bet types

Here are the most popular horse racing bet types and the outcome you’re wagering money on:

• Single = pick the winner of a race.
• Each Way = pick a horse to finish first, second, third (fourth, or fifth, depending on the race).
• Double = pick the winner of two separate races – both picks must win to get a return.
• Treble = pick the winner of three separate races – all picks must win to get a return.
• Accumulator = picking the winner of multiple races - all picks must win to get a return.
• Trixie = pick three horses in three different races to make four different bets: three doubles and a treble.
• Patent = pick three horses in three different races to make seven different bets: three singles, three doubles and a treble.
• Yankee = pick four horses in four different races to make 11 bets: six doubles, four trebles, and a fourfold (each of the four horses to win its race).
• Super Yankee (aka a Canadian) = pick five horses in five different races to make 26 bets: 10 doubles, 10 trebles, five fourfold bets, and a fivefold accumulator.
• Heinz = pick six horses in six different races to make 57 bets: 15 doubles, 20 trebles, 15 fourfold bets, six fivefold bets, and one sixfold.
• Super Heinz = pick seven horses in seven different races to make 120 bets: 21 doubles, 35 trebles, 35 fourfold bets, 21 fivefold bets, seven sixfold bets, and a sevenfold accumulator.
• Goliath = pick eight horses in eight different races to make 247 bets: 28 doubles, 56 trebles, 70 fourfold bets, 56 fivefold bets, 28 sixfold bets, eight sevenfold bets, and an eightfold accumulator.
• Lucky 15 = pick four horses in four different races to make 15 bets: four singles, six doubles, four trebles, and a fourfold.
• Lucky 31= pick four horses in four different races to make 31 bets: five singles, 10 doubles, 10 trebles, five fourfold bets, and a fivefold accumulator.
• Lucky 63 = pick six horses in six different races to make 63 bets: six singles, 15 doubles, 20 trebles, 15 fourfold bets, six fivefold bets, and one sixfold bet.
• Alphabet = a single wager on six selections covering 26 different bets: two patents (14 bets), a Yankee (11 bets), and a sixfold accumulator (one bet).
• Single Stakes About = two picks from two different events are combined to produce a cross bet (aka up and down bet). Any return up to the value of the original stake for one single is used to fund a second single on the other selection.
• Double Stakes About = two picks from two different events are combined to produce a cross bet (aka up and down bet). Any return up to double the value of the original stake from one single is used to fund a bet on the second single.
• Round Robin = pick three horses from three races to make a ten-part wager that consists of three doubles, one treble, and three up-and-down Single Stakes About bets.
• Flag = multipart wager consisting of six doubles, four trebles, one fourfold bet, and six up-and-down Single Stakes About bets.
• Super Flag = multipart wager consisting of 10 doubles, 10 trebles, five fourfold bets, a fivefold accumulator, and 10 up-and-down Single Stakes About bets.
• Heinz Flag = multipart wager consisting of 15 doubles, 20 trebles, 15 fourfold bets, six fivefold accumulators, a sixfold bet, and 15 up-and-down Single Stakes About bets.
• Super Heinz Flag = multipart wager consisting of 21 doubles, 35 trebles, 35 fourfold bets, 21 fivefold accumulators, seven sixfold bets, and 21 up-and-down Single Stakes About bets.
• Goliath Flag = multipart wager consisting of 28 doubles, 56 trebles, 70 fourfold bets, 56 fivefold accumulators, 28 sixfold bets, eight sevenfold accumulators, an eightfold, and 28 up-and-down Single Stakes About bets.
• Union Jack Trebles = pick nine horses to make eight treble bets. The trebles are formed by grouping the picks into a 3x3 grid.
• Union Jack Trixie = pick nine horses to make 32 trebles and 24 doubles.
• Union Jack Patent = pick nine horses to make eight trebles, 24 doubles, and 24 singles.
• Union Jack Round Robin = pick nine horses to make eight trebles, 24 doubles, and 24 up-and-down Single Stakes About bets.

What is a bet calculator?

A bet calculator tells you what a bet is worth if your picks are correct. If you’re completely new to sports betting, bet calculators are essential because you probably can’t calculate your potential returns for simple scenarios. For example, could you calculate the possible winnings from a £10 stake on a 6/4 shot at Cheltenham?

The answer is £15 profit + your £10 stake back, for a total return of £25. A bet calculator gives you this answer in less than a second once you’ve entered the necessary variables. That’s great, but you’re probably wondering why you need a bet calculator if you know how to calculate the returns on a single.

The answer is simple: other bet types. I’ve been calculating odds and returns for more than a decade. I can work out the returns on a 6/4 flutter relatively quickly. However, when you start adding extra variables to the bet, things get tricky. This is particularly true for horse racing bets when you need to take into account things such as place payouts, accumulators, and exotic bet types.

That’s why I sometimes struggle to calculate the returns for certain horse racing bets, particularly when Rule 4 deductions need to be factored in. That’s why I still use a bet calculator. Not only are they useful for calculating potential returns, but they also allow you to see whether a bet is worth making, which is something I’ll explain in more detail at the end of this guide.

How to use our bet calculator?

Our bet calculator is easy to use because you only need to enter a few variables. All you have to do is input the following variables, and our betting calculator automatically tells you what you stand to win:

• Bet type: This button allows you to set the type of bet you’re making. There are 30 different bet types you can select, ranging from singles and doubles to exotic multi-way bets such as Yankee, Canadian, Lucky 15, and Union Jack Trixie.
• Each way: You can use this button to check the odds for an each-way bet (i.e. picking a horse to finish within the top three, four or five, depending on the race). Don’t use this button if you want to make a straight-win bet.
• Number of selections: Most horse racing bets you’ll make will be on a single horse, so you enter 1 in this box. However, if you’re placing an accumulator or a multi-way bet, you can increase the number of picks you're making.
• Show rule 4: Rule 4 is a deduction made to winning bets in horse racing. Deductions are made if a horse is withdrawn before the start, and it impacts the odds of other runners. You can use our calculator to show what you’ll win if Rule 4 has to be applied.
• Stake type: Use this button to define whether your stake is going to cover all of the picks/bets (Total Combined Stake) or whether you want to stake individual amounts on each pick (Stake Per Bet).
• Stake: This is where you enter the amount you’re wagering on the bet.
• Outcome: This button allows you to say whether the pick is a Winner, it Lost, it was a Non-Runner/Void, or the race was a Dead Heat.
• Odds: The final variable to enter is the odds. Go to one of our recommended bookmakers, such as Paddy Power or William Hill, and see what odds they’re offering. Put the figures in the box and you’ll be shown the potential returns based on all the variables you’ve entered.

As an added bonus, we also have a wagering requirement calculator. This calculator tells you how much you need to deposit and wager in order to clear bonuses in your betting account. You can use this in conjunction with our calculator to ensure you’re not only getting the best possible odds but betting in a way that allows you to clear bonuses efficiently at our recommended UK betting sites.

FAQ

1. Can a bet calculator determine the probability of winning a bet?

No, a bet calculator only shows you the amount of winnings you stand to receive if a bet is successful. It can’t tell you how likely a pick is to win or lose.

2. What is the most popular bet type in horse racing?

The most popular horse racing bet is a single, aka a win bet. This wager is often referred to as a straight-win bet because you’re picking one horse to win i.e. it’s a straight proposition, rather than an each-way which covers two propositions.

3. What bet type is the most common at Cheltenham races?

The two most common bets customers make at Cheltenham are win and each-way bets. That’s because a lot of people who bet on Cheltenham are casual racegoers, and these are the simplest bet types. More experienced punters will often make trebles.

4. What are the most popular bets in general?

The most popular bets in horse racing are singles, each-way and accumulators. Of these bet types, accumulators offer the biggest returns because you need to pick winners or each-way winners in multiple races.

5. What bet type makes the most profit?

Accumulator bets offer the biggest potential returns in horse racing because you need multiple picks to be correct. For example, trebles combine three outright selections into one bet. All picks need to be right for the bet to be declared a winner.

Can betting calculators give you an edge?

Yes, betting calculators can give you an edge in two ways. Firstly, they’re a great way for novices to understand how returns are calculated. This, in turn, gives you an insight into how bookmakers think when they’re setting odds, which allows you to think more logically about the picks you’re making. I recommend using our calculator in conjunction with this guide to common betting terms to give yourself a solid foundation.

Secondly, I use a bet calculator in conjunction with statistics and research. Basically, I analyse a horse, and one of the variables I use to determine whether it’s worth backing or not is its potential returns. A horse could be an exceptional talent and highly likely to win, but if the returns don’t represent enough value, it’s not worth betting on. By using a bet calculator, I’m able to get a better overview of a race and see where the actual value lies. That’s something that everyone should do when they have a flutter, particularly when it comes to big horse racing events such as Cheltenham.

Remember to gamble responsibly

A responsible gambler is someone who:

• Establishes time and monetary limits before playing
• Only gambles with money they can afford to lose
• Never chase their losses
• Doesn’t gamble if they’re upset, angry, or depressed
• Gamcare – www.gamcare.org.uk
• Gamble Aware – www.gambleaware.org

Find our detailed guide on responsible gambling practices here.

For help with a gambling problem, call the National Gambling Helpline on 0808 8020 133 or go to www.gamstop.co.uk