Single Bet Calculator – How to Work Out a Single Bet
Using our single bet calculator is the quickest way to accurately work out the returns you can expect from a successful wager. It can calculate returns for both win singles and each way singles with ease. And it can handle bets for any sport – even taking dead heats and other special rules in its stride.
What is a Single Bet?
The win single bet is the easiest type of wager that you can make in any sport. For that reason, it’s also the one most commonly made at online betting sites in the UK and around the world.
When you make a single bet to win, you’re betting that your chosen selection will win the event concerned. It could be a horse race, a boxing match, a golf tournament or an esports contest. If your selection wins the event, your win bet will also succeed.
A popular variation of the win single is the each-way single. This is really two bets in one. The first part of the bet functions as a win single as described a moment ago. The second part of the bet is that your selection will get a place – often by finishing in first, second, or third place.
The win part of an each-way single will be paid at the regular win odds. But the place part will be paid at a fraction of those odds. That’s because it’s easier for a selection to get a place than it is to win the event outright.
How to Use Our Single Bet Calculator
Our single bets calculator can be used to figure out what you’ll get back from your bookmaker if your bet succeeds. You can set it to work out a win or each-way bet, as you prefer. Here’s how:
Check Single Bet Selection
The first thing you need to do is check that the Single & Each Way button is highlighted at the top of the betting calculator. This is normally highlighted by default, but it’s always worth checking at the outset. If you want to use the app as an each way single bet calculator, you should also select the Yes button under the Each Way option.Choose the Odds Format
Online bookmakers can publish their betting odds in fractional, decimal or American formats. For that reason, our bet single calculator has been designed to accept odds in any of those same formats. Simply select your preferred option via the Odds Format field.Select the Place Term
If you’re using the app as a single each way bet calculator, you need to tell it what fraction of the odds the bookie will pay for the place part of your bet. Look at the betting market and you’ll see this information presented as something like ‘E/W 1/5 1-2-3’. That means an each way bet in this market will pay 1/5 the odds for the first three places. Simply enter the applicable fraction (in this case 1/5) in the Place Term field.Enter Your Stake
You can now enter your stake for the bet that you want to calculate. Note that you should enter the unit stake in the Stake field. For example, if you are betting £10 each way, you would enter 10 as your stake. The singles calculator will automatically figure out that your overall outlay is £20 and it will display that in the Total Stake window.Enter the Odds
Next, enter the odds for your bet in the Odds window. You have already chosen which format you want to use, so simply enter the odds in fractional, decimal or American format, as given by the bookmaker you’re betting with.Select the Result
The only other piece of information required to work out single bet returns is the result. Use the pulldown Result menu to select Won, Placed, Dead Heat, Lost or Void. If your bet payout will be reduced by a Rule 4 deduction then you should use the Rule 4 pulldown menu to select the applicable deduction.Activate the Bet Calculator
To see the free single bet calculator result, simply press the Calculate button. All of the details you have provided will be used to calculate and display your Total Return and Total Profit. Note that the Total Profit figure is simply your Total Return minus your initial outlay.
How to Work Out a Single Bet Manually
Our single bet calculator eliminates the need for any bettor to work things out manually. However, for those of you who want to know how to do that, we’re happy to explain the process. This, in simple terms, is what the calculator does on your behalf every time you use it.
Starting with a win only single, the formula for calculating your return is simple:
Decimal odds of your bet multiplied by your stake.
For example, let’s assume that you enjoy horse racing betting and you’ve bet £5 at decimal odds of 3.00, your calculation would be:
3.00 x £5 = £15
Each-way singles are a little more complicated. For the win part of your bet, you’d use the formula just given. Then, for the place part of your bet, the formula to apply is:
Fraction of the odds in decimal format multiplied by your stake.
For example, if you’ve bet £5 each way at decimal odds of 3.00, and the place pays 1/5 the odds, your calculation would be:
1.40 x £5 = £7
You would now need to add the win return and place return together, giving you a total each way return of:
£15 plus £7 = £22.
As you’ve seen, figuring out the place return is more involved than the win return. And that’s just one of the reasons why we recommend using our single bet calculator instead of doing things the hard way. That said, if you’d like to know more about odds and how they work in betting, you’ll find the topic discussed in detail in our Betting Odds Explained guide.
Other Free Bet Calculator Apps
You now know how to work out a single bet both manually and by using our single bet calculator. If you’d like to use other calculators for different types of bets, you can do that, too. We have a horse bet calculator, a Lucky 15 bet calculator and more. You’ll find the full range of options listed on our Free Bet Calculator page.
FAQ
What is a single bet?
How do you win a single bet?
Are single bets profitable?
How is a single bet calculated?
How do you calculate each-way return on a bet?
Why use a single bet calculator?
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