How do I work out the return on a winning double?
How to calculate the return from a winning double, with an illustrative example and distinctions between stakes, profit and total return.
By Sarah MitchellBetting & Tips EditorPublished · Updated · 872 words · 5 min read
The short answer
A double is a two-leg accumulator where winnings from the first successful selection are staked on the second. To work out the return: convert each selection's price to the total-return form (decimal odds or fractional total-return), multiply the first selection's total return by the second selection's total-return factor, and include your original stake. Use the bookmaker’s quoted fixed odds or the Starting Price if you took SP. Remember deductions such as Rule 4 or pool deductions on Tote bets can change the final dividend [jc-glossary] [jc-jargon].
What a double is and the decision you actually face
A double is a single bet that links two selections in different events; both must win for any return. Practically you face a two-stage decision: choose a first-leg selection and a second-leg selection, and decide whether to place a fixed-odds bet at the price offered or to request Starting Price (SP). The Jockey Club glossary defines an accumulator and explains that with doubles the winnings from the first selection go on to the second, and that all selections must succeed to receive anything back [jc-glossary]. The Jockey Club jargon page clarifies price and fixed-odds terminology to help you choose whether to lock in a displayed price or take SP [jc-jargon].
How to convert odds to the multiplier you actually multiply
To calculate a double you must convert the quoted odds into a total-return multiplier. The Jockey Club glossary explains decimal odds as a figure representing the potential total winning return, inclusive of stake, for the unit staked; fractional odds can be converted into the same total-return figure. For example, fractional 3-1 equals a decimal total-return factor of 4.0. If you have two selections with decimal factors D1 and D2, the combined total return for a unit stake is D1 multiplied by D2. Use the bookmaker’s fixed-odds price if you took it, or the SP if you asked for Starting Price, because the number you convert must reflect the price you actually took [jc-glossary] [jc-jargon].
Step-by-step math: multiplying leg one into leg two
Start with your stake S. Convert leg one price to its decimal total-return factor D1 and leg two price to D2. First-leg return equals S times D1; that amount becomes the stake on leg two. Final total return equals (S × D1) × D2 which simplifies to S × (D1 × D2). If you want net profit, subtract the original stake S from that total. The Jockey Club glossary describes that winnings from the first selection go on to the next, which is exactly this multiplication process. If you place unit calculations, set S equal to 1 to produce the per-unit total return, then scale by your actual stake [jc-glossary] [jc-jargon].
Practical checks: SP versus fixed odds and Rule 4 implications
Before you trust the multiplication result, check which price applies. The Jockey Club jargon entry distinguishes fixed-odds (the price you were given when placing the bet) from SP, which is the starting price the race actually began at. If you asked for SP you use that dividend instead of the quoted fixed odds. Also be aware of late withdrawals and Tattersalls Rule 4 deductions explained in the glossary: if a non-runner is withdrawn after you placed a winning double with pre-withdrawal prices, a Rule 4 deduction may reduce payouts in proportion to the non-runner’s odds. For pool bets like Tote, the glossary notes deductions are taken from the pool and the declared dividend is inclusive of those deductions; both Rule 4 and pool deductions change the final cash returned versus the raw multiplication [jc-glossary] [jc-jargon].
How to report your return and interpret bookmaker displays
When you report the return from a winning double be explicit whether you mean total return (stake plus winnings) or profit. The Jockey Club glossary uses return to mean total amount received for a winning bet inclusive of stake. Using decimal total-return factors keeps that clarity: multiply the two decimals and then multiply by your stake to get the total cash returned. If a bookmaker displays fractional odds, convert them first to decimal total-return factors so you don’t forget to add stake. Small practical checks include ensuring your calculator uses enough precision so rounding at each leg doesn’t materially change the final number, and confirming that you applied any Rule 4 or Tote dividend adjustments specified in official results [jc-glossary] [jc-jargon].
Worked example
hypothetical Suppose you stake £10 on a double. The bookmaker offers 3-1 on the first selection and 5-2 on the second, and you take the fixed prices. Convert 3-1 to its decimal total-return factor of 4.0 and 5-2 to 3.5. First-leg return is £10 × 4.0 = £40. That £40 becomes the stake on the second leg, so final total return is £40 × 3.5 = £140. Your net profit equals £140 minus your original £10 stake, so £130. If instead you took SP on either leg or if Rule 4 applied because a different race had a late withdrawal, the actual cash received would be adjusted; use the declared SP/dividend or the Rule 4 deduction announced for the race to revise the numbers accordingly [jc-glossary] [jc-jargon].
Related questions
If one selection is odds-on how does that affect a double return?
An odds-on selection reduces the multiplier on the initial stake because total-return factors are less than two; you still multiply the first selection’s decimal return by the second selection’s decimal return. The profit from the odds-on leg will be smaller, so the compounded return on the double shrinks accordingly [jc-jargon] [jc-glossary].
Do I include my stake when reporting the return?
Yes. Return normally means total returned cash, which includes your original stake plus winnings. When you convert fractional odds to a decimal total-return factor, that factor already represents stake plus winnings, so multiplying decimal factors gives the total return directly [jc-glossary] [jc-jargon].
Sources
- The Jockey Club: Get Past the Jargon — accessed
- The Jockey Club: Racing Explained Glossary — accessed
For education, not betting advice. No bet is guaranteed. Gamble responsibly.
Back to Racing Questions