Use our betting calculator and see your potential returns. Select your bet type and fill in the gaps. Try Betway’s free bet calculator online today.
What is a betting odds calculator?
Our betting calculator is an easy-to-use tool that gives you a clear overview of what a bet could return. Helpful for those new to betting, as well as seasoned bettors who want quick and accurate answers. Using Betway’s free bet calculator makes things simple and means you don’t need to worry about doing the maths yourself.
How does the bet calculator work?
Behind the scenes of our bet calculator, there’s a bunch of different figures, calculations, and formulas. These are all relevant to the gaps within our calculator that you need to fill in yourself, which include:
· Bet type – Are you betting on a single particular race/event, an accumulator, or something more complex like Yankee?
· Each way – Are you wanting an each-way bet? What positions does it cover?
· Total stake/Stake per bet – How much are you planning to wager on the bet?
· Bet conditions – Are there any special terms you want to include (i.e. Rule 4 or Dead Heat)?
· Odds – What are the provided odds for your chosen bet? Please note, with our betting calculator, you can choose from various formats, including Fractions, Decimals, and Vegas.
Taking these factors into account, our bet calculator is able to instantly give you the answer you’re after. Be sure to use the outcome dropdown to see how your bet will be impacted, whether it’s a win, lose, or place.
How to use our free betting calculator
To use our betting calculator, all you need to do is fill in the relevant boxes with your potential bet options – it’s really as straightforward as that!
What are the benefits of using our betting calculator?
To put it simply, using a bet calculator takes out any guesswork and makes it simple to see what you could win if successful. Working out returns yourself can be tricky, as there are a few factors that can influence potential winnings (e.g. odds, bet type, and whether you opt for ‘each way’ or not). But using a bet calculator takes care of it for you.
Incidentally, our free betting calculator also makes it quick and easy for you to explore different types of bets and betting strategies that you might be curious about.
How are each way bets calculated?
An each-way bet is made up of two different bets – a win bet and a place bet.
1. Win Bet – If the horse wins the race, you win the bet.
2. Place Bet – If the horse ‘places’, you win this part of the bet. The positions that ‘place’ may vary and are decided by the bookmaker (e.g. top 2 or top 3).
Equal value is placed on both bet types. This means a £5 total each way bet would be split up as a £2.50 win bet and a £2.50 place bet. For instance, if betting on horse racing, you’d place a £2.50 stake on a horse to win the race, and a £2.50 stake on it to finish in the designated places. If you win, the bet returns will be paid in full – as both halves of the bet will have been successful.
For more information, we’ve got a whole guide on what each way betting means which goes into further detail. Or discover our article that delves deeper into reading betting odds yourself.