Free bet calculator guide: free bets, each way, Patent and Lucky 15
Free bets, each way bets and full-cover multiples like the Lucky 15 all follow their own maths, and this guide works through each with $ examples.
A free bet calculator answers one question: what is this bet actually worth? Sports bonuses usually have lower multipliers than casino ones, and in the UK they're capped at 10×. But they come with their own catches, and multiple bets like a Lucky 15 hide more stakes than people expect.
How to calculate a free bet
With a free bet you keep only the winnings, not the stake. This is often written "stake not returned". A $25 free bet at odds of 2.0 pays $25 profit if it wins, so on average it's worth roughly $12, not $25. Higher odds get you closer to the full value.
Free bet value at different odds
Here's a $10 free bet in a market with a 5% margin:
| Decimal odds | Pays if it wins | Average value |
|---|---|---|
| 1.50 | $5 | $3.17 |
| 2.00 | $10 | $4.75 |
| 3.00 | $20 | $6.33 |
| 5.00 | $40 | $7.60 |
| 10.00 | $90 | $8.55 |
Longer odds keep more of the free bet's value, but they lose far more often, and margins are often wider on outsiders. Our bookmaker margin calculator guide shows how to measure the margin in the market you're betting on.
Rollover, minimum odds and the bookie's margin
"Rollover" is the sports word for wagering. Most offers also set minimum odds, such as 1.50, so you can't clear the bonus with safe bets on heavy favourites. Instead of RTP, sportsbooks have a margin built into the odds. The more you bet, the more the margin eats.
Single and double bets in brief
A single is one selection: return = stake × odds. A double links two selections, and both must win. Multiply the odds together: $10 on 2.0 and 1.8 returns $10 × 3.6 = $36. Trebles and accumulators work the same way with more selections. Our single and double bet calculator guide covers fractional odds and accumulators in more detail.
Each way bet calculator: how each way pays
An each way bet is two bets of the same stake: one on the selection to win and one to place. The place part pays a fraction of the odds, usually 1/4 or 1/5, and how many places count depends on the race and the bookmaker's terms. A $10 each way bet costs $20.
| $10 E/W at 9.0 (8/1), 1/5 odds | Return |
|---|---|
| Horse wins | $90 (win) + $26 (place) = $116 |
| Horse places only | $26 (you lose the $10 win part) |
| Horse loses | $0 |
The place return works like this: 8/1 at 1/5 odds is 8/5, which is 2.6 in decimal, so $10 × 2.6 = $26.
Patent, Yankee, Lucky 15, Lucky 31 and Lucky 63: how many bets?
Full-cover multiple bets combine every double, treble and accumulator from your picks. The "Lucky" versions and the Patent add every single too. Your total stake is the unit stake times the number of bets, and doubles again if you go each way.
| Bet type | Selections | Bets | Includes singles? |
|---|---|---|---|
| Double | 2 | 1 | No |
| Trixie | 3 | 4 | No |
| Patent | 3 | 7 | Yes |
| Yankee | 4 | 11 | No |
| Lucky 15 | 4 | 15 | Yes |
| Super Yankee (Canadian) | 5 | 26 | No |
| Lucky 31 | 5 | 31 | Yes |
| Heinz | 6 | 57 | No |
| Lucky 63 | 6 | 63 | Yes |
| Super Heinz | 7 | 120 | No |
| Goliath | 8 | 247 | No |
Patent bet calculator: a worked example
A $1 Patent on three horses at 2/1 (3.0), 3/1 (4.0) and evens (2.0) is 7 bets and costs $7.
- All three win: singles $3 + $4 + $2 = $9; doubles $12 + $6 + $8 = $26; treble $24. Total return $59.
- Only the first two win: singles $3 + $4 and their double $12. Total return $19.
- Only the 2/1 wins: $3 back from a $7 stake.
Lucky 15, Lucky 31 and Lucky 63 stakes
Add a fourth horse at 4/1 (5.0) and you have a Lucky 15: 15 bets, $15 at $1 a bet. If all four win, the return is $359. A quick check for any $1 Lucky bet where everything wins: add 1 to each decimal price, multiply them together and subtract 1, so 4 × 5 × 3 × 6 − 1 = 359. The same trick gives the Patent's $59: 4 × 5 × 3 − 1.
A Lucky 31 needs 5 selections and a Lucky 63 needs 6. At 50p a bet, a Lucky 63 costs $31.50, or $63 each way. Some bookmakers add extras to Lucky bets, such as bonuses when only one or all selections win; these vary, so check the terms rather than counting on them.
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