The purpose of this guide is to explain the mechanics of the bet calculator when working out the returns from a sports bet. You can use an odds converter to display the odds in your preferred format for bets placed on the best betting sites in Kenya.
What is a Bet Calculator?
A bet calculator is an online tool to work out any returns from your sports bets. You can use it to simply calculate the return from a single at its most basic level. It can be extended to doubles and trebles. Then, you can go further by applying multiple accumulators and system bets.
The accuracy of the result depends on entering the correct information, which is the following:
- Bet Type
- Odds Type
- Conditions: win or each way, Rule 4, dead heat (covered below).
- Place Terms
When you fill the fields, you click the appropriate button to make the calculation. Most bet calculators show the return and profit. The operation is immediate so speed and accuracy are the main benefits of this type of calculator.
The process requires information about the type of bet: win or each way. If it is an each way bet, the tool must take into account the place terms which depend on the number of runners and type of bet. Typically, place odds are one quarter, one fifth or one sixth of the win odds.
The bet calculator must consider Rule 4 Deductions. This is percentage bookmakers base on the odds of the horse if a horse is withdrawn from a race and bookmakers do not have the time to create a new market. The odds of the other horses are reduced accordingly to maintain a fair book.
You must also accommodate a dead heat. In this, you split the stakes between the two or more horses that were in a dead heat, after a review of a photograph. Dead heat rules apply to win and each way bets so the manual calculation can become complicated but it’s easy using this tool.
Odds makers express markets in odds which reflect the bookmaker’s perceived probability of an outcome to a horse race, sports event or novelty market. The odds create a book and the objective for the bookmaker is to take bets on all the options to balance the book.
They use a betting odds calculator for simplicity but they originally did this manually and more time-consuming. Odds can be displayed in several formats, mainly based on geography. An odds converter can display odds in a format that you most comfortable with using the calculator aid.
There are three Asian formats (Hong Kong, Malaysia, Indonesian) and but we’ll not include them but focus on the three most used. Here are the versions for ‘two to one’ in three formats using an odds converter:
- Fractional: 2/1
- Decimal: 3.00
- American: +200
The main difference is that fractional odds do not include the stake unit but it is part of the decimal and American representation. It is easier to use decimal rather than fractional and American formats when make the entries the odds into the betting odds calculator.
A betting odds calculator can perform the same function as a bet calculator. You can enter the odds in any format and change the format, usually making a selection from a drop down menu. When you have calculated the odds, you put the information into the calculator so you can then use the tool.
Yankee Bet Calculator
The Yankee bet calculator is useful for the system bet that has four selections and 11 permutations: six doubles, four trebles and an accumulator. A win Yankee with a level stake of KES 100 is KES 1,100. An each way Yankee has 22 bets so the total stake for a KES 100 bet is KES 2,200.
So, you should know that there are no singles in a Yankee. If you have two winners, you will be paid out on one double. So, three winners means three doubles and one treble and four winners means all the 11 combinations are successful.
System Bets Calculator
Bookmakers use a system bets calculator to work out the return and any profit or loss from combination bets. These are bets that bring together selections in permutations. They are different to singles, doubles and trebles and accumulators as they are not single line bets.
For example, as we have explained a Yankee is a system bet with four selections. Other system bets include the Canadian (five), Heinz (six) Super Heinz (seven) and Goliath (eight). System bets with singles are: Lucky 15, Lucky 31 and Lucky 63, for the Yankee, Canadian and Heinz respectively.
There are four permutations when you use a Trixie bet calculator. The three selections are combined in three doubles and one treble, so four bets. Hence a KES 100 win Trixie costs KES 400. You can place each way Trixie bets which means eight bets at a cost of KES 800 with a KES 100 stake unit.
You can use the Patent calculator for this system bet. In effect, it is Trixie with singles which equates to seven bets. Also, a Patent can be win or each way. So, the Patent calculator is a great help when you have to consider place terms. A 100 KES win Patent costs KES 700 and KES 1,400 for each way.
Lucky 15 Calculator
As we pointed out, Lucky 15 is a Yankee with singles. So, when you use a Lucky 15 calculator, you must include four selections and select a win or each way bet. Some bookmakers will pay double or treble the odds if you have one winner.
In any case, the Lucky 15 comprises four singles, six doubles, four trebles and one four-fold accumulator. Also, you can have a win or each way Lucky 15. So, a KES 100 win Lucky 15 has a total stake of KES 1,500 and a KES 100 Lucky 15 has a total stake of KES 3,000.
The accumulator (‘acca’), also called a multiple, has four selections or more. That means the accumulator calculator saves a great deal of time. Also, it can handle win and each way bets. That means the total stake is twice the win stake when you place an each way bet.
The accumulator calculator combines the odds to work out the return. The calculator multiplies the odds in this single bet. Bookmakers have payout limit for accumulators which can include four to about 20 selections, depending on the specific rules with different bookmakers.
Bet Calculator FAQs
Here are the answers to popular Frequently Asked Questions about the bet calculator:
How do you work out a single bet?
You multiply the stake by the odds to calculate the profit and add the stake to calculate the total return. Hence, a KES 100 at 4.00 (3/1) produces a profit of KES 300 and a return of KES 400.
How are free bets calculated?
Free bets are calculated using the odds and bet calculator but the return does not include the free bet stake. Hence, a free bet at 5.0 (6/1) for KES 50 equates to a return and profit of KES 300.
How do you convert probability to odds?
A probability of 50% is Evens. A probability of 25% is 3/1 (4.0) as dividing 100 by 25 gives you 4. There is one chance of a specific outcome and three chances of any other outcome in a bet.
What are 75% odds?
A 75% probability converts to 1.33 in fractional odds and 33/100 in decimal odds.