Free Bet Calculator

Use our free bet calculator to work out your winnings for your bet. Whether it’s a single or a complex multiple, the Racing Post bet calculator will work out how much you stand to win depending on the eventual outcome.


How are betting odds calculated

Betting odds are calculated by the probability of something happening. For example, if the odds are 4-1 this suggests there is a 1 in 5 chance of winning (4+1), or calculated as 1 / (4+1) = 0.2 which means there is a 20% chance of the outcome happening. The winnings you would receive from a bet is calculated by multiplying your stake by the odds. So a stake of £1 would pay £4 profit, plus your stake back, which is a total return of £5.
Calculating your winnings from a single selection is fairly straight forward, however, when placing more complex bets or multiples it’s advised you use an odds calculator.

Bet Calculator Description

Using the reliable Racing Post Bet Calculator will allow you to work out your returns for bets like Lucky 15, Doubles, Yankee, Accumulator and much more. With a bet calculator you can compare different outcomes of the different kinds of bets and how they may affect your profits before you even place your bet!  


How to use the free bet calculator

It’s incredibly simple to use the betting calculator to work out your winnings. The best idea is to start at the top of the page and work your way down through each field. Follow these simple steps to get started:

  1. Choose your bet type
  2. Enter the stake for your bet
  3. Select which odds format you want to use
  4. Toggle the ‘each way’ and ‘rule 4’ buttons accordingly.
  5. Add the odds for each of your selections
  6. You’ll now be able to see your expected return and profit from your bet

How to calculate each way bets

When placing a bet you may have the option to bet ‘each way’ which means you will get paid out as a winner if your selection wins, but will also be paid out if your selection fails to win but does finish in the top 3 places. An each way bet is split into two bets, a win-only bet and a place-only bet, so be careful when placing each way bets as your stake will effectively be doubled.

£5 each way on a selection with odds of 10/1 (⅕ the odds, 3 places) will cost £10 in total (£5 win-only, £5 place-only). The win-only part of the bet (£5 win at 10/1) would return £55. The place-only part of the bet (£5 place at 10/1 at ⅕ odds = 2/1) would return £10. If your selection does win, both bets would cash and your return would be £70 including your original stake. If your selection does not win, but does finish 2nd or 3rd, the place part of the bet would cash and your return would be £15.

Each way place terms vary depending on the market and the bookmaker, and this will impact the odds of your selection.

How to calculate rule 4 deductions

A rule 4 deduction is a commonly invoked rule that deducts a percentage of punters’ winnings owing to the withdrawal of a contender in the betting market. For example, if you bet on Horse A at 2/1, but then Horse B who is priced at 1/1 is withdrawn from the race, the bookmakers won’t offer you the same odds on Horse A to win the race because the market needs to be re-formed. Therefore the bookmakers will invoke a rule 4 deduction on the odds you were offered, to reduce the potential winnings in line with what a re-formed market would look like. The rate of deductions is proportional to the offs of the non-runner(s) at the time of the withdrawal.

Odds of withdrawn runner

Rule 4 Deduction (£)

1/9 or shorter


2/11 to 2/17


1/4 to 1/5


3/10 to 2/7


2/5 to 1/3


8/15 to 4/9


8/13 to 4/7


4/5 to 4/6


20/21 to 5/6


Evens (1/1) to 6/5


5/4 to 6/4


13/8 to 7/4


15/8 to 9/4


5/2 to 3/1


10/3 to 4/1


9/2 to 11/2


6/1 to 9/1



5p or None


Benefits of Bet Calculator

At its most basic level, the purpose of bet calculators is to assist you in comprehending the implications of your wagers and ultimately determine the potential returns you could receive if your bet is successful. These calculators typically follow a standard procedure, where they initially prompt you to indicate the type of bet you have made or intend to make, ranging from a single bet to more complex bets like accumulator. Once you have input this information, the calculator will request the bet and stake amount. You will have to repeat this process for each bet you have placed, including additional information.

What is a Bet Calculator?

A bet calculator is a tool that is used to calculate your potential winnings of a bet or multiple bets. It can help a bettor determine the potential payout of their wager, including the total payout and the profit that can be made. A betting calculator can take into account a number of variables such as the type of bet, the odds of the bet, the stake or amount of money placed on the bet, and any potential bonuses or promotions that may be available. Overall, a bet calculator is a useful tool for bettors to help them understand the potential outcomes of their bets and to make more informed decisions when placing bets. 


Who should use a bet calculator?

A bet calculator can be helpful for anyone who is placing bets, whether they are a beginner or an experienced bettor. It can be particularly useful for those who are placing complex bets with multiple selections, such as accumulator bets, to make informed decisions about their bets. Additionally, an odds calculator is a valuable tool for anyone who wants to improve their understanding of the betting process.


Popular Bet Types Explained

Read all about the popular kinds of bets you can use within the bet calculator, how they are composed and how they are calculated. Explained in a simple and easy way for all to understand which bets are suitable. 

What is an Accumulator Bet?
An accumulator within a bet calculator bet also known as acca or parlay is the type of bet that combines multiple individual bets into one single wager. In order to win an accumulator bet, all the individual bets included in the wager must win.

What is a Single Bet?
A single bet within a bet calculator is the simplest and most common type of sports betting. It involves placing a wager on a single event or outcome, such as a particular team to win a game, a player to score a goal, or a horse to finish first in a race. With a single bet, you are betting on a single selection, and if your selection wins, you receive a payout based on the odds offered by the bookmaker.

What is a Double Bet?
A double bet within a bet calculator is a type of sports betting that involves wagering on the outcomes of two separate events or selections. Both selections must win for the bettor to receive a payout. If one of the selections loses, the entire bet is lost. This bet type on a betting calculator is good for bettors who are looking for a higher potential payout than a single bet.

What is a Yankee bet?
A Yankee bet within a bet calculator is a type of multiple bet that involves 11 separate bets on four different selections. A Yankee bet consists of 6 doubles, 4 trebles, and 1 fourfold accumulator, which means that if all four selections win, the bettor will win 11 bets. To place a Yankee bet you must select four different outcomes or selections, for example four horses in different races or four football teams in different matches

What is a Lucky 15 Bet?
A lucky 15 bet within a bet calculator  is a type of wager that involves making four selections and placing 15 bets in total, consisting of four singles, six doubles, four trebles and one four-fold accumulator. This type of bet is popular in horse racing and is also used for other sports and betting events. Since there are multiple bets involved, the total stake for a lucky 15 bet can be relatively high. It’s important to consider the potential returns against the total cost of the bet before placing it.

What is a Lucky 31 bet?
A lucky 31 bet within a bet calculator is a type of full cover bet that involves making 31 bets across 5 selections. 10 trebles, 5 four fold accumulators, and 1 five fold accumulator. The bet is called a ‘lucky’ 31 because it includes an additional five single bets compared to the lucky 15 bet, which covers 15 bets across 4 selections. This type of bet is popular in horse racing and football free bets and can offer high payouts if all five selections win.

What is a Lucky 63 bet?
A lucky 63 bet within a bet calculator is a type of full cover bet similar to the lucky 31 bet that involves 63 bets across 6 selections. The bet includes 6 singles, 15 doubles, 20 trebles, 15 four fold accumulators, 6 five fold accumulators and 1 six fold accumulator. Again this bet is popular with horse racing and football free bets. However, the Lucky 63 requires a higher stake compared to other full cover bets due to the increased number of bets.


Frequently Asked Questions

If you want to manually calculate a double bet, simply multiply the stake by the first set of odds, and then multiply the total return by the second set of odds. If you’re having trouble calculating your bet, why not try our free bet calculator.

The Lucky 15 bet consists of 15 bets on four selections (four singles, six doubles, four trebles and one four-fold accumulator). The return on a Lucky 15 depends on how many selections win. If one selection wins, the return will depend on the odds of a single bet, whereas if three selections win there will be six winning bets that make up the return depending on their respective odds. Use our bet calculator to work out your lucky 15 returns depending on the eventual results.

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