How A Horse Race Betting Calculator Works?

Betting can often be complex, especially when it comes to wagering on the latest horse racing action across the globe. While singles are easy to work out when it comes to the potential returns that you stand to win, many sportsbooks also list the funds that you stand to return if your selection is correct.

However, multiple betting and each-way punting are exceptionally popular when it comes to betting on horse racing, but the returns from these wagers can be slightly more challenging to determine your returns. Therefore, bet calculators have been an excellent addition that bettors only can use to do quick math to work out potential returns.

What Is A Horse Betting Calculator?

A betting calculator is very straightforward to understand, as it is simply a tool that punters use to work out their returns when making multiple bets. As you can see in this example from a horse racing calculator by TwinSpires.com, it is mostly effective to use when trying to examine the potential payout of the wager, and the profit that can be achieved from your selection.

The betting calculator will take into account a number of different factors, including the type of bet that has been placed, the odds that the bettor has taken, and the money that has been staked on the wager. It will also take into account variables such as potential bonus cash used and any potential rules that need to be followed due to non-runners.

Benefits of Using A Bet Calculator

There are a lot of benefits that come with using a bet calculator. Among those include the fact that bettors will be able to examine the potential returns that they need to ensure that they stand to win profit from their selection.

It is a hugely beneficial tool that is being used by bettors across the world, and they are straightforward so that all players can fill in the sections required with ease no matter what their experience level when it comes to betting on horse racing. Once all the information has been included, the calculator works its magic, and the results are clear to see after a second.

How To Use A Horse Racing Bet Calculator

Horse racing bet calculators are straightforward to understand, and the layout of the majority remain the same. First, bettors will need to enter the bet type that they wish to make, determining whether it is a single, each-way, lucky 15, or Trixie bet etc.

Then, you will enter the number of selections that you have made on the bet, and whether the wager is an each-way gamble or not. Most calculators will also enable bettors to decide whether they wish to see the odds in a decimal or fractions format.

After filling out the first selection, you will then enter the odds of the selections that you have included in your bet. Here, you will also be asked whether a rule 4 has been applied, which will determine the returns that you will expect to return from your wager.

After all the outcomes and odds have been included, you will then need to include the total stake or stake per bet that you have made on the wager. Once this has been included you can confirm the selections and the calculator will determine the potential returns from your selections.

Example Bet Calculator

As an example, we will use a Lucky 15 bet type with selections priced at 2/1, 14/1, 3/1, and 2/1. A total bet of $15 on these selections would see a bettor potentially return $260.82 from the sportsbook, meaning that a winning Lucky 15 could see the bettor win $245.82 in profit for their selections.

However, in this example, you can see the returns if the 14/1 shot loses their race. The calculator shows that three winning selections would still return $79.00, meaning a profit of $64.

Who Uses Bet Calculators?

Bet calculators are exceptionally popular with both experienced and newcomers to betting, as it saves time working out the math. Experienced bettors will use the calculator to ensure that they can spend more time looking at the runners involved in the race, while it is an excellent option for novice bettors, who can use calculators to broaden their knowledge and understanding when it comes to reading odds.

Bet calculators are mostly useful for bettors looking to wager on the multiple markets, as it takes into account the selections that have lost or placed before determining the returns that you stand to win on your wager. Therefore, it is an essential tool to use before making any wager on the latest horse racing action.