How do I work out my bet winnings is a common question from novice punters. And the question alone shows a lack of knowledge of the betting world, as there are so many different bet types. But it should never be looked down on when someone requires help in a field they are new to, so let’s look at the basics of how to work out a bet, and then look at the some of the many different bet types that this can be applied to.
So back to the question, how do I work out my bet? Let’s first look at the very basics of bet calculations. This would be a single bet, the most common type of bet. This calculation also forms the basis for working out betting returns for all other types of exotic bet types, be it a Lucky 15, an accumulator or a Yankee, the underlying principle is the same.
There is no need to draw this out, the calculation to work out a single bet is very straight forward, but there is one step many people forget when they first start working out their own bets (with decimal odds). The easy to remember bit is to simply multiply your stake by the odds, so if you bet £10 on a horse with odds of 3.75 your profit is £37.50. But you mustn’t forget that you also get back your original stake, so total return is £47.50
As you can see the maths behind “How do I work out my bet winnings?” is very easy, and below we make it even easier by giving you a tool to calculate winnings on many different bet types. Also if you wish you can use our search box to find our write up and how to work out your winnings for each individual bet.
Now of course you have just been shown the basics here. There are several other factors that may affect you betting returns and different methods to calculate each of these obstacles. These are
- Each-way bet – If you need to work out a bet that is each way then you will need to do your calculations as if you have made two separate bets. One bet being the win portion of the bet and the other being the place portion. Learn more from our each-way betting article.
- Dead heat results – Dead heats aren’t very common unless you bet on golf outright markets. But they do happen; and if you want to work out bet winnings when this situation occurs you will need to know how it is treated by bookies. Rather than repeat what has been said in a previous article, jump over to our dead heat page for the maths.
- Rule 4 deductions – This deduction is always a pain when it happens, especially when you’ve decided you want to work out your winning on your own. The maths isn’t too tricky, as you will see from our post on Rule 4 deductions, the problems is not all bookies apply the rules as strictly as they should. I say problem, but of course it means a slightly bigger pay-out for you, so it’s the one time I’m happy for my calculations to be slightly wrong.
That’s all the basics covered, and in most situations will suit the needs of a novice punter. But if this hasn’t answered your question on how do I work out my bet, we have many more advanced article throughout this site, so feel free to browse at your leisure.