You can place so many types of bets that it can be confusing for those only used to place single bets, like which team will win a football match. A Yankee, a Heinz, or a Trixie might make no sense to you, but that's where a free online betting calculator helps make everything simple. 

Betano has a free odds calculator to calculate how much you'd win from placing a specific bet and the number of selections you must make for a particular bet. As the list of Premier League betting markets for the upcoming season is here, what better time to understand all the betting terms and what winnings you could receive via the help of a free online betting calculator?  

A bet calculator helps you understand the total potential winnings from your bet. It’s not always clear how much money you must wager and the total you could win from each outcome, so a bet calculator gives you all the clarification you need. 

For example, if you enjoy golf betting, there are many different tournaments worldwide, and you might want to bring together winner or each-way bets onto one bet slip. A bet calculator will ask you what type of bet you plan to place, the odds, the stakes you wagered, and any other special terms you include (e.g. each way). You’ll then see a calculation of the total amount you should receive if you’re successful. 

Having a tool like this clears up any mathematical mistakes you might have calculated and advances your understanding of football betting, among other sports, so you're more informed before you bet in future. 

Few bookmakers provide bet calculators for customers. Instead, only ask for the type of bet you want to make and show you the potential winnings without any explanation or breakdown. At Betano, we feel you should be able to understand how you win and what you could receive from different outcomes on your bet slip. 

Bet calculators are straightforward and only require basic information on your bet slip. Click on the type of bet you're interested in (e.g. each-way, accumulator, Trixie), enter the stake you want to bet, and put in the odds you've been given (this might be numerous odds depending on the bet type). The calculator identifies the potential winnings you'd receive and the number of selections you'd need to wager on for an applicable bet. 

For example, it's easy to calculate a single when betting on cricket, and most bookmakers will give you the potential winnings before you place the bet, e.g. if you put a £5 bet on 2/1 odds, you'd get £10 in winnings back plus your £5 stake. 

Singles are easy to calculate and won't usually require a bet calculator. However, the more advanced bets require mathematics that you might not be able to calculate in your mind, like a Canadian bet, which consists of 26 bets on five selections. 

If all those selections had different prices and you won some but not all of them, you might feel confused about the outcome. With Betano’s bet calculator, you won't need to worry about being left in the dark, and the betting formula is explained and calculated for you. 

Bet calculators let you calculate whatever type of bet you want to break down, the potential winnings, and the stake needed to accumulate a specific amount of money. 

For example, there are various markets you can choose from when boxing betting, and you might want to place several bets on the same fight. Knowing the number of selections you need to make and the different bets within your overall stake is crucial before proceeding. 

Here are the various types of bets you can calculate for a better understanding. 

• Single, Double, Treble  
• Each-way 
• Accumulator 
• Trixie 
• Patent 
• Yankee, Super Yankee 
• Canadian 
• Heinz, Super Heinz 
• Lucky 15, Lucky 31, Lucky 63 
• Goliath 
• Alphabet 
• Round Robin 
• Flag, Super Flag, Heinz Flag, Super Heinz Flag, Goliath Flag 
• Union Jack Trebles, Union Jack Trixie, Union Jack Patent, Union Jack Round Robin 

 Learning what these mean with the help of a free online betting calculator opens up more gambling avenues that could benefit you. 

As an explanation, let's use Trixie and a Patent to calculate what winnings you might receive for your wager. 

If you plan to bet on horse racing, a Trixie requires three selections for horses in three separate races. You're placing four bets because it creates every combination of two of the three horses (Horse 1 + Horse 2 = one double, Horse 1 + Horse 3 = one double, Horse 2 + Horse 3 = one double), as well as a treble for all three horses to win their respective races. 

Because each horse is likely to have different odds, and you're unlikely to get a break-down like this on your bet slip, a bet calculator can tell you what you'd win from your stake if one or two doubles come in, rather than just the potential entire winnings. 

A Patent is the same type of bet as a Trixie, but includes three singles on top of the doubles and treble you'll have placed. Therefore, if only one horse wins its race, you'll still get something back from your stake, but you're effectively placing seven bets. 

Understanding the terms gets even more complicated with the greater number of bets and selections you need to make because there are far more outcomes, but a bet calculator can help you. 

You are better prepared for the financial outcome when using Betano's free online bet calculator for sports betting. Rather than betting a large amount of money on an accumulator, for instance, you could spread the bets across different combinations to potentially win on several outcomes with the help of a betting calculator. 

Check out all the sports odds on our site, and please remember to gamble responsibly.