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Thankfully, that is where online odds calculators come into their own. These handy tools can make a huge difference to your betting activity, providing you with a full overview of the options available and ultimately helping you to place the bet — or combination of bets — that works best for you. In this article, we are going to take a closer look at the concept of odds calculators, how they tend to work, and the key benefits that they can offer in terms of boosting your betting balance.

On the most basic level, odds calculators are designed to help you understand the implications of your bets and ultimately determine what returns you will receive if you are successful. Such tools tend to operate in a standard format, with them first asking you to input the type of bet that you have made or are planning to make.

This could be anything from a single to a Yankee to Super Heinz or an accumulator. The calculator may also ask you to either enter the odds in the decimal or fraction format, but we will touch upon the key issues related to that further on in this article.

You will then repeat that process however many times is necessary — for example, if you have placed multiple bets — and then may also be able to add information related to Dead Heats or any situation when Rule 4 may have come into play.

The latter offers compensation in the event that a horse withdraws from a race after a bet is placed. After providing full information regarding your range of bets, the odds calculator will then take care of the hard work by doing the maths and generating an overview of the bets you have made or are planning to make, as well as the potential returns which will be available if you are successful. Choose your each-way terms with the odds calculator — these vary based on the number of runners and the type of race.

As you may have already realised, such tools offer clear benefits to horse racing fans whether they are planning for future races or even checking what their final winnings will be after placing several bets. The ability to input information on a combination of bets is a particular benefit, as it ensures you do not get a headache while attempting to consider the potential outcomes of the bets you have made.

For a great number of horse racing fans, the use of fractions is the traditional way of viewing the odds for the runners and riders, but the use of decimals is something which has grown significantly across recent years, too. They can be on different sports, on different continents on different days. This is calculated…. Of course, the more parts to the bet, the harder it is for your multiple bet to win… but the more you will collect if it does!

With these bets there is very high probability of failure, and you should also be aware that most bookies have a maximum payout on any single bet. But the higher the number of selections, the bigger the potential returns for a small initial stake. Combinations are a series of multiple bets and sometimes singles that are put together by your bookmaker according to the number of selections involved.

Then there is a yankee. This bet is a combination involving four selections… making for a total of 11 bets. A dead heat is when two or more selections in an event tie. So what are the bookmaker rules when there is a dead-heat?

In simple terms, you will be paid out at the full odds for the bet… but your stake will be adjusted, depending upon the number of competitors golfers, teams, horses etc which are tied in the dead-heat. Your returns are based upon this adjusted stake. The remaining portion of your stake is lost. These dead-heat rules are applied in this way universally across all bookmakers and sportsbooks in fixed odds betting.

Rule 4. Rule 4 is an industry-standard deduction that is made on a horse or it could be a greyhound when there is a non-runner after the final declarations have been made. After all, if the favourite is pulled out of a race at the last minute, the bookmaker is potentially liable for a lot of big-priced bets for other runners… which would have been at much shorter odds had the favourite not been in the original betting market. To allow for that, there is a deduction from the returns of other runners… a Rule 4.

Those punters who backed the withdrawn favourite a non-runner would get their stakes returned. Rule 4 does not apply to any ante-post market. And so if you back a non-runner in an ante-post market you do not get your money back… likewise no Rule 4 is applied to the people who have placed bets on horses that benefit from this non-runner.

Forecast Betting. This is a bet where you pick two selections in the same event, and they need to finish 1st and 2nd in that order for you to win. This can be in a horserace, most often, but can also apply to other markets e. As such a forecast return of 9. In horseracing the returns for a correct forecast FC are based upon the official industry forecast return.

This is based upon an equation taking into account the odds of the horses involved, the number of runners in the race and several other factors. In sports betting, bookmakers often quote on finishing positions e. These bets will be offered with a set price fixed odds payout for the correct prediction of the result.

This involves double the stake but, of course, only one of the forecasts can win. Ante-post Betting. Hence you might bet on the winner of the next soccer World Cup or the winner of the Epsom Derby. Which team will win the baseball World Series. Different rules apply in horseracing and greyhound racing where ante-post betting concerns the fixed odds market prior to the final declaration stage of a race.

This is usually 24 hours before a race, although it can sometimes be more. The main attraction of ante-post betting is that you can often back selections at big odds, well ahead of the match, race or tournament… because, come the day of the competition, they could well start at a very much shorter price. However… there are no Rule 4 deductions in ante-post betting markets.

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You will know betting odds can be displayed in different formats. And if you're a novice, it's worth taking the time to understand odds shown in different formats. Betting Odds Explained, Table & Odds Calculator () Repeat up to 5 times to receive maximum £bonus. Min odds 1/2 (). Exchange. Find below some useful betting charts and tables showing the number of selections for various permutations. Also shown are the numbers of bets for some of the.