Betting odds can be tricky to work out in your head. So I decided it was time to make it simple to work out how much you can win on a bet!
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I have included the amazing bet calculator below! The bet calculator can work out single bets or multiple selections. You can enter the odds using the fractional UK style or the decimal system favoured by some other people – Johnny Foreigner, in other words!
The calculator can also work out bets which are placed ‘each way’. You must click on the ‘each way’ button to activate this. You can also work out multiple bets using the calculator. Just change the number of selections. This will allow you to work out ‘doubles’ and trebles.
Finally, the bet calculator is designed to give you a good idea of how much you could win on a bet. It will not be 100% accurate – it may well round up or round down some winnings.
Here are a couple of tips for using the bet calculator.
- Enter the amount you will bet into the ‘stake’ box.
- Only enter whole numbers in the ‘Your Stake’ box:- like 4, 10, 16. If you enter 12.50 the calculator will just round it up or down anyway.
- Now you’ll need to enter the odds you will get from the bookies. Let’s say the odds are 10/1 – In the two boxes near ‘outcome’, enter 10 in the first box and 1 in the next box.
- Your winnings are displayed when you click the blue ‘calculate’ button.
- The bet calculator will show total returns once the button is clicked.
If you need to learn more about odds and gambling in general, then I recommend you visit the Wizard Of Odds.
The Game Hunter makes no claims or warranties about the accuracy of the calculator. If you get the calculator in your eyes, rinse immediately with cold water. Serving suggestion only. Objects may appear closer in the mirror than they actually are. Your home is at risk if you do not keep up the repayments on your mortgage or other loans secured on it. No animals were harmed in the making of this bet calculator – I think that covers all the legal stuff!
If you’re new to the world of sports betting, understanding betting odds and how to calculate bet returns can be a bit overwhelming. But don’t worry; we’ve got you covered. Below, we’ll go over the important things you need to remember when it comes to betting odds and calculating bet returns so that you can place your bets with confidence.
What are betting odds?
Betting odds are used to calculate the payout of a winning bet. They represent the probability of an event occurring and can be displayed in a few different formats, such as fractional, decimal, or American.
Fractional odds are commonly used in the UK and are expressed as a fraction, such as 2/1 or 5/2. The first number represents the potential profit, while the second number represents the stake required to win that profit. For example, if you bet £10 at 2/1 odds and win, you’ll receive a profit of £20 plus your original stake of £10, for a total return of £30.
Decimal odds are popular in Europe and Australia and are expressed as a decimal, such as 3.00 or 2.50. They represent the total return, including the stake. For example, if you bet £10 at 3.00 odds and win, you’ll receive a total return of £30, which includes your original stake of £10 and a profit of £20.
American odds are used mainly in the US and are expressed as a positive or negative number, such as +200 or -150. The positive number represents the potential profit on a £100 bet, while the negative number represents the stake required to win £100. For example, if you bet £100 at +200 odds and win, you’ll receive a profit of £200 plus your original stake of £100, for a total return of £300.
How to calculate bet returns
Calculating bet returns depends on the type of odds you’re using. Here’s how to calculate returns using each type of odds:
To calculate returns using fractional odds, simply multiply the stake by the odds. Then, add the stake to the result to get the total return. For example, if you bet £10 at 2/1 odds, your potential profit would be £20 (10 x 2). Adding your stake of £10 to the profit gives you a total return of £30.
To calculate returns using decimal odds, simply multiply the stake by the odds. The result will be the total return, including the stake. For example, if you bet £10 at 3.00 odds, your total return would be £30 (10 x 3.00).
Calculating returns using American odds depends on whether the odds are positive or negative.
For positive odds, divide the odds by 100, then multiply the result by the stake to get the potential profit. Then, add the stake to the profit to get the total return. For example, if you bet £100 at +200 odds, your potential profit would be £200 (2.00 x 100). Adding your stake of £100 to the profit gives you a total return of £300.
For negative odds, divide 100 by the odds, then multiply the result by the stake to get the potential profit. Then, add the profit to the stake to get the total return. For example, if you bet £150 at -150 odds, your potential profit would be £100 (100 / 150 x 150). Adding the profit to the stake gives you a total return of £250.
Important things to remember about odds and calculating bet returns
Here are some important things to keep in mind when dealing with betting odds and calculating bet returns:
- Always check the odds: Before placing a bet, make sure to check the odds offered by multiple bookmakers. Different bookmakers may offer different odds, so it’s important to compare them and choose the best one.
- Understand the odds format: It’s crucial to understand the odds format used by the bookmaker you’re betting with. If you’re unfamiliar with the format, you may make mistakes in your calculations, which can result in losing money.
- Keep track of your bets: It’s a good idea to record them, including the odds, stakes, and returns. This will help you keep track of your betting history and identify patterns in your betting behaviour.
- Don’t chase losses: If you lose a bet, don’t try to recover your losses by placing more bets. This can lead to further losses and a negative cycle of betting. Stick to your betting strategy and avoid making impulsive decisions.
- Understand the implied probability: The odds bookmakers offer reflect the probability of an event occurring. Understanding the implied probability can help you make informed betting decisions and identify value bets.
- Use a betting calculator: If you’re not confident in calculating bet returns, consider using a betting calculator. These tools can help you quickly and accurately calculate potential returns based on the odds and stakes.
FAQs about betting odds and calculating bet returns
- What does it mean if the odds are in favour of a team? If the odds are in favour of a team, it means that the bookmaker believes the team is more likely to win. This is reflected in the lower odds offered for that team.
- What is a value bet? A value bet is a bet where the odds the bookmaker offers are higher than the implied probability of the event occurring. This means the bet has a positive expected value and can result in long-term profits.
- Can you win money in the long run by betting on sports? Yes, it is possible to win money in the long run by betting on sports. However, it requires discipline, patience, and a solid understanding of betting strategy and bankroll management.
- What is bankroll management? Bankroll management is the process of managing your betting funds to minimize the risk of losing all your money. This involves setting a budget for your betting activities, determining the size of your bets based on your bankroll, and avoiding impulsive decisions.
- What is the difference between a stake and a bet? The stake is the amount of money you’re risking on a bet, while the bet is the selection you’re making. For example, if you bet £10 on a football match, your stake is £10, and your bet is the team you’re betting on.
- How do bookmakers make money? Bookmakers make money by offering odds that are slightly lower than the true probability of an event occurring. This ensures that they will make a profit over time, regardless of the outcome of any individual bet.
Betting odds and calculating bet returns can seem daunting at first, but with a little practice and understanding, you can become a successful bettor. Remember to always check the odds, understand the odds format, keep track of your bets, and avoid chasing losses. By following these tips and using your knowledge to make informed betting decisions, you can increase your chances of long-term success.