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When Can You Use a Betting Calculator?

Published: 2021-03-31 By: The Guru

The use of a calculator was once forbidden in the classroom. Now, they go undetected in the form of a mobile phone or smart watch, but there is one place where a calculator is almost always needed – the betting industry. A betting calculator is an important tool to serious bettors as it offers information on factors such as how much your lay stake should be, how much liability will be and how much profit you can expect to make. Some information will be required from the bettor first; the back stake, the bookmaker odds, the exchange lay odds, the exchange commission and with a press of a button, the betting calculator will work its magic!

Betting calculators come in different shapes and forms but typical calculators provide infor based on three different types of bets: normal, a free bet with stake not returned and a free bet where the stake is returned. But on what betting markets can a calculator be used? There is a vast landscape of betting markets out there and it can be a complex one to navigate, which is why many betting operators offer the tools required to sift through the jargon, and the betting calculator is one of them. The days of scribbling odds on the back of a piece of paper or football card have long gone and the betting calculator was one of the reasons behind this!

How To Use a Betting Calculator

#1 Bet Type: The first piece of info you will need to input into the betting calculator is what type of bet it is. If looking to back a winner based on a free football tip, you’ll be required to select the win bet type. Bets on multiple events will be referred to as a multiple bet. To increase the amount you can win, you can place single, double or triple win bets over many events. 

#2 Odds: Betting calculators require odds to work their magic but these could be shown as fractions 6/2, decimals 5.00 or by the American moneyline format of +400. Coverting fractional odds is done by dividing the first figure of the fraction by the second and then you add 1. Moneyline odds to decimal odds is done by dividing the figure by 100 and then adding a 1. Decimal to fractional is simple; you subtract 1 from the figure to find the whole number, resulting in a 7 becoming 6/1.

Betting Calculator FAQ’s:

Q: What is a Betting Calculator?

A: A tool used to help bettors calculate how much they stand to win should their bet be successful, and you can find more details here on this. In order to achieve this, information will be required on the bet type and the odds. In order to win the sum stated, all betting selections must be correct.

Q: Are All Betting Calculators the Same?

A: In theory yes, but there are variations of the betting calculator which require different info from you. A matched betting calculator is used to determine the profit from a free bet, but remember, free bets have terms and conditions and possibly even wagering requirements that must be met before you can cash out any winnings.

Q: What’s an Odds Calculator?

A: A piece of software that will help determine the best or most profit from a bet. These are typically used for sports betting markets – as opposed to casino sites such as allvideoslots.com which focus on your classic casino games along with the latest cutting edge technology.

Q: Why Use A Betting Calculator? 

A: It’s important to know what you can win before you place a bet and a betting calculator does just that. You wouldn’t buy a a car without taking it for a test drive so why should placing bets be any different?

What Does it Mean?

Action: A bet or wager.

Accumulator or ACCA refers to a bet with four or more events and is hugely popular in football betting. These types of bets welcome small stakes with eye-watering results if all predictions are correct.

Against the Spread: A bet similar to a handicap with additional goals or points awarded to a team. 

Ante-Post: A bet placed before the horse racing runners have been confirmed.

Best Odds Guaranteed: A phrase coined by bookmakers to promise the best possible odds. If the odds are greater than those you chose when the event got underway, the bookmaker will pay the start price odds.

Cash Out: A feature allowing you to cash in your bet if you feel it will let you down before the full time whistle is blown.

Decimal Odds: Betting odds displayed in decimal format.

Double: A single bet made up of two markets.

Draw No Bet: If the event finishes in a draw, your stake is returned. 

Edge: Advantage.

Each-Way: Popular horse racing bet with the bet split into two; one on the horse winning and one on the horse coming in one of the paying places.

Favourite: The most likely to win.

Fractional Odds: Odds in the UK.

Futures Bet: A bet placed on an event that is long-term, example; a bet placed on who will win the Premier League. 

Handicap: Favourites are handicapped a goal or two to balance the event of a tie.

In-Play: Bets placed while the event is live.

Odds: Probability of each outcome coming true.

Pay-Out: The value you receive when you win.

Totals Bet: Wager on the total outcome, example; total goals scored in a game.

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