Free Bet Calculator
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A Free Bet Calculator is a tool used to automatically calculate the returns of a bet for a given stake.
How To Use a Free Betting Calculator?
Enter the odds for the type of bet you would like to calculate the payout for. In the case of multiple bets (matched bets), the odds will automatically multiply to give the odds of a parlay bet.
Enter the amount you would like to bet, also known as your total stake. If you would like to make a single bet, enter the stake into the ‘Single Bet’ field. If you would like to make a multiple bet, enter the stake into the double, treble or any other multiple fields.
The potential profit (potential winnings) for your bet should automatically appear in the ‘Payout’ Box at the bottom of your betting calculator.
How Are Free Bets Calculated?
A betting odds calculator uses simple arithmetic to calculate the payout of a wager. For example, if a single bet has 1.50 odds and a stake of $10, then the payout of the bet would be 1.50*10 = $15. Multiple bets must first calculate the odds by multiplying the odds of all chosen bets together.
Example: If three bets are chosen of odds (1.50, 2.50, 1.25) then the odds of betting these three bets as a parlay or multiple bet is 1.50*2.50*1.20 = 4.5. If a stake of $10 was then wagered on the parlay a bettor would receive 4.5*10 = $45 as the payout.
Advanced Free Bet Calculator Functions
Advanced bet calculator functions can be applied to bets with added requirements. Some advanced bet calculator functions include Free Bet, Accumulator Bet, Odds Type and Rule 4 calculators.
Free Bet Calculator
A Free Bet Calculator function allows bettors to calculate the payout from a free bet or bonus. This can be very useful when deciding which bonus to activate at a sportsbook or to calculate the minimum and maximum which can be won using the free bet or bonus.
The way the Free Bet Calculator works is by taking the odds of a given free bet or bonus along with the stake a bettor would like to wager and using them to calculate the eventual payout of bonus. For example, if a bonus offer gave free bet odds of 2.0 on a $20 bet, users could calculate the maximum free bet payout of 2.0*$20 = $40 using a free bet calculator function.
Accumulator & System Free Bet Calculator
An Accumulator Bet Calculator function as mentioned above allows bettors to calculate the payout of parlay bets where the odds are multiplied together to form combined odds for which all selections must win. A System Bet Calculator on the other calculates odds in the case where not all selections are required to win.
Bettors must select the type of system bet they would like to calculate before they can use the function. For example, if a bettor chooses to calculate a 2 from 3 bets, they will be picking from three selections and making two selections for each bet stakes.
Let’s say there are three football teams: Team A, Team B and Team C each trying to win the football league. In a 2 from 3 system bet, bettors may choose to calculate the odds of Team A and Team B, Team A and Team C or Team B and Team C winning the tournament. The payout of each instance can then be calculated.
In the case of postponed matches or omitted selections, a System Bet Calculator function can still be used to calculate the accumulated odds of a bet.
Betting Odds Calculator
Betting Odds Calculators give the option of being used in multiple odds types and will automatically calculate the payout of a bet regardless of the type. The most common odds types are Decimal, Fractional and American.
While the way a payout is calculated for each odds type is different;
Decimal – Payout = [Stake x Decimal Number]
Fractional = [Stake x (Numerator/Denominator)] + Stake
American = A minus (-) sign indicates the amount a bettor would need to stake to win $100 and a positive (+) sign indicates the amount won for every $100 staked.
A betting odds calculator can immediately calculate the payout of a bet by simply entering in the odds and stake into their respected fields.
Rule 4 Calculator
The rule 4 calculator function allows bettors to account for rule 4 deductions in horse races. Rule 4 deductions take non-runners of horse races into consideration when calculating a payout. To use the rule 4 function all bettors have to do is enter in the odds of the non-runner horse or horses and the new odds will be calculated automatically.
Why Use a Free Bet Calculator?
There’s no need to scribble down odds on a piece of paper anymore attempting to calculate the odds of your bets. Most betting calculators can handle any payout calculations you can throw at them within seconds and are very easy to use.
Additionally, with betting calculators, users may calculate a payout regardless of the odds type which may be available at a given sportsbook by simply picking the odds type on the calculator and entering the values of the odds and stake.
More complicated calculations like system bet functions and rule 4 functions are also possible on betting calculators, giving users the ability to figure out payouts even on multiple selections and non-runner horse races. These types of bets can be very tedious to calculate using traditional methods.