What is a bet calculator?
Using a bet calculator gives you a simple yet powerful way of fully understanding your wagers. This easy-to-use tool lets you see in a flash how much you could win if your prediction comes true. Just fill in a few basic details and you’ll instantly see the potential winnings so that you can then decide if it’s worth a flutter or not. Paddy’s bet calculator includes all the bet types and conditions that you’ll find across our site. This includes each-way bets, accumulators, and the rest. So, let’s see how it works for you to understand the full value of any punts placed.
How does the bet calculator work?
At the heart of our brainy bet calculator is a tool that works out all the figures you need to know. It takes into account the following factors that you’ll be asked to enter:
- Bet type – for example, a single bet on a particular race or event, an accumulator covering several events or a more complex wager like Yankee or Super Heinz
- Odds type – choose for the odds to be represented in fractional (e.g. 2/1) or decimal (e.g. 3) format
- Stake – this is how much you plan to wager on the bet
- Conditions – you have the chance to add any special terms you want to include
You can then look at the win/lose/void section, which is automatically set to ‘win’ when you start.
Naturally, if you work out the figures for a losing bet, the profit or loss result will be a loss of your stake. A voided bet will see your stake returned to you, but in the case of an accumulator, the rest of the bet will stand.
If you mark the bet as a win, the calculator will take into account the different factors to tell you how much you would pocket. In those cases where you mark it as an each-way bet, a dead heat or rule 4, you’ll be asked for some more information to make the result completely accurate.
How to use a bet calculator
You don’t need to be a tech wizard to use our bet calculator, even Paddy himself can use it, but you do need to take a moment to make sure that the details you put into it are all bang on. The best idea is to start at the top of the page and work your way down through each field.
Let’s start with the easiest example of a single bet, where you need to complete the following fields:
- Choose the bet type as ‘single’ using the drop-down list
- Select the odds type as fractional or decimal
- Enter the amount you might stake
In this way, we see that a £10 stake at odds of 2/1 gives you a potential return of £20. Just change the stakes or the odds to see how this changes the winnings. If you want to work out the numbers for an accumulator, choose ‘accumulator’ as the bet type and then select the ‘add row’ button until you’ve included all of the different parts. Don’t forget to add in the correct odds for each different part of the bet.