Calculate bet returns for horse racing singles, doubles, trebles, accas, lucky 15s, lucky 31s and all types of multiple bet using the Geegeez bet calculator.

 

What Is a Bet Calculator?

A bet calculator offers you an easy way to calculate your returns from almost any type of bet. This is exactly why we’ve added this odds calculator above to the Geegeez website. 

You can now calculate your betting odds in an instant, taking into account differing bet types, odds, stakes and even rule 4 deductions. 

A bet calculator can calculate odds and returns for bets from any sport so this is not only a bet calculator for horse racing but also for football, tennis, greyhounds, rugby, cricket, darts and all other sports.

This online betting calculator is a great tool for checking winnings from a number of bets. This can be done after all the legs of a bet have run or part way through to predict potential returns.

How To Use the Geegeez Bet Calculator

This odds calculator is extremely easy to use. Simply choose your bet type (all the most popular bet types are listed in a drop down menu) and then enter whether your bet was win only or each way. If you’ve chosen an accumulator bet you’ll also have to tell the accumulator bet calculator how many selections are included in your bet.

One of the best features of the Geegeez Bet Calculator is the fact that you can toggle rule 4 deductions on and off. Rule 4 deductions are fairly common based on the prices of non runners and these can have a huge impact on potential winnings. If you know that there is a rule 4 deduction on one of your bets then select ‘Yes’ for ‘Show Rule 4?’. You can click here for more on rule 4 deductions.

Then for each selection you just need to select if it won, placed or lost, select the odds and then the place terms and rule 4 deduction (if applicable). You can choose your stake per bet or total combined stake (depending on your preference) and once your stake is input the total stake, total returns and most important of all, the total profit will all be displayed at the bottom of the calculator tool.

Fractional Odds v Decimal Odds

The Geegeez Bet Calculator uses fractional odds to determine total winnings. Fractional odds are often more popular in horse racing whereas in football, where accumulators featuring lots of short priced teams are very popular, decimal odds can often be favoured. 

Converting fractional odds to decimal odds is very easy to do. You simply add both the numbers in the fraction together and then divide by the second number. This gives you the decimal odds. As an example for 9/4.

9 + 4 = 13
13/4 = 3.25
9/4 = 3.25 in decimals

However there are a few more steps involved when trying to convert decimal odds back into fractions. For many of the more common fractional odds experienced gamblers will know the decimal odds by heart but if you need to calculate it from scratch you need to keep adding the decimal odds together until you get a whole number (no decimal places). This is much easier to explain using the 9/4 (3.25) example again.

3.25 + 3.25 = 6.5

This isn’t a whole number so we continue until we do reach a whole number.

3.25 + 3.25 + 3.25 = 9.75
3.25 + 3.25 + 3.25 + 3.25  = 13

Finally we get to a whole number, so now it’s time to subtract the number of times we had to add the decimal odds together to get there. In this case that is:

13 - 4 = 9

That gives us the first part of the fraction and the second half of the fraction is that number we have just subtracted from the first whole number we got to. That makes it:

9/4

How To Work Out Lucky 15 Returns

To create a lucky 15 bet calculator you just have to select ‘Lucky 15’ from the bet type drawdown menu. The bet calculator for the lucky 15 will automatically add 4 selections to the calculation area and the results and odds (and place terms and rule 4 if applicable) can all be added.

Once the stake is also added in the relevant field the total return for the lucky 15 bet will be accurately calculated. 

If looking to calculate accumulator payouts it is a very similar process. Instead of selecting ‘Lucky 15’ from the bet type menu you just have to select ‘Accumulator’. This will create an additional field for the number of selections and any number between 2 and 20 can be chosen.The accumulator function will need to be used for doubles and trebles as well as bigger accumulators.

How To Calculate Each Way Returns

To use this as an each way accumulator ‘Yes’ will need to be selected in the ‘Each Way?’ dropdown near the top of the bet calculator. This will populate the bet section of the calculator with fields where the place terms can be added. The most common place terms are usually 3 places, 1/5 odds or 3 places, 1/5 odds but bookmakers are offering more and more places to attract bets at the moment so you will now see 5+ places available, usually at 1/5 odds. 

Whatever the place terms, simply add them to the calculator and select the relevant result to find out what the each way returns are on singles or multiples.

On each way multiples there are win only multiples and place only multiples. The win bets and place bets are never combined. 

When working with fractional odds, the place odds are calculated by multiplying the second number in the fraction by either 4 (if 1/4 odds) or 5 (if 1/5 odds). So if a 7/1 shot places in a race where the place odds are 1/5 odds, this is how the place returns are settled.

1 x 5 = 5

So the place odds are 7/5 where there win odds would have been 7/1.

If calculating place multiple returns without the bet calculator the odds would need converting to decimals and then multiplying by each other. So if two 7/1 chances both place in an each way double where both races are settled 1/5 odds it would be:

7/5 x 7/5
2.4 x 2.4 = 5.6

The place double pays 5.6 as a decimal, or 4.6/1.

How To Calculate Dead Heat Returns

A common mistake when calculating dead heat returns is to work it out as the full stake at half the odds (assuming a dead heat with two participants). This is the incorrect way to settle a dead heat.

It is the stake that gets halved in the case of a dead heat involving two participants and then that is settled at the full odds. Dead heats involving more than two participants in horse racing are rare (much more common in golf) but in that eventuality the stake is divided by the number participants involved in the dead heat.

Fortunately the Geegeez Bet Calculator includes dead heat as a result option to do all the hard work for you with working out dead heat winnings.