Odds Calculator – Calculate What You’d Win
As more and more sporting events are sponsored by big betting brands, the practice has only become more popular over time. With Mr Green, Coral, and others placing their ads on TV and online more frequently, even the most experienced of us are now being exposed to new markets and a wider array of options.
Many moons ago, it would be a simple case of choosing a horse and putting down some money. Now, we can play around with single bets, accumulators, and lots of other options. While this may have been confusing at first, it no longer needs to be the case with fantastic online odds calculators. If you haven’t yet tried them and you’re struggling your way through in the traditional style, or even avoiding potential winning bets because of the frustration, now’s the time to get started.
With the very best online calculators, they provide overviews of the available options and help to make good betting decisions. Today, we want to talk more about the idea of odds calculators and perhaps introduce the premise and benefits for those who have avoided them until now (or even for those who didn’t know they existed!).
How Does an Odds Calculator Work?
In simple terms, you want to use an odds calculator to better understand the returns on any given selections. From here, you know the implications of your bet and can make solid betting decisions.
With the majority of calculators, it all starts with you entering the bet type. With so many options, you might fancy anything from a single to a Super Yankee or Lucky 31. For football fans, you might try your hand at an accumulator on Saturdays. Once the calculator knows the bet type, simply enter the odds of your selections and your planned stake. Instantly, you’ll see the combined odds of the bet and the expected return should you win.
Depending on the type of bet and how many you want to research, you can add information such as Rule 4 and Dead Heats. With Rule 4, if a horse withdraws after you’ve paid your money, you’ll get compensation.
Advantages of Working with an Odds Calculator
As the most obvious benefit, odds calculators take away the hard work and maths that come with accumulators and larger bets. You get an overview of your chosen bet, you see how different selections affect the odds of an accumulator, and you learn the potential returns of bets. With this, you’re able to make an informed decision and it takes some of the guesswork or ‘punting’ that comes with betting.
For those who enjoy betting on the horses, an odds calculator is perfect. Whether you just want to check potential winnings on a bet or are researching for future events, it’s the ideal partner. Whatever you need, you can enter the odds and tailor bets to your own liking; you can see an overview of any given combination of selections. Suddenly, you don’t get a headache just trying to work out the potential outcomes of specific bets.
Decimals vs Fractions
If you’ve been betting on horses for a number of years, you’re probably accustomed to using fractions. However, it has been a time of change in recent years and more platforms now embrace decimals too. Why? Because decimal systems actually make the maths much easier. When setting up accumulators, for example, it’s a simple case of multiplying numbers rather than messing around with fractions. If you multiply the decimal by the stake, you’ll work out your potential winnings with ease. Let’s say a horse has odds of 5.00, a €1 stake will return €5 (easy, right?).
Despite being easier in many respects, decimal odds still manage to trip people up for one reason; the stake is factored into the maths much earlier. If we look at a simple example, a horse at 5/1 will bring €5 of profit as well as the €1 original stake. In total, you have €6. With the decimal system, 5/1 is displayed as 6.00. As you can see, your stake is considered within the odds. If you put €2 on at 6.00, this will return €12. For beginners, they often think 6.00 is 6/1, but this isn’t the case.
If you’re using fractions, remember that your stake will ALSO be returned. With decimals, potential winnings include EVERYTHING.
Whether it’s with Coral or Betfair, there are millions of us all over the planet who love betting on horses. While some follow the event on radio or TV, others are lucky enough to attend in person. For some time, people thought horse racing was reserved for those in the know. With an odds calculator, this no longer needs to be the case. Even with no experience, the odds calculator makes horse racing betting far more accessible than ever before.
We aren’t saying that a beginner can go in and make a profit immediately, the risk of betting in any sport will always be present, but the odds calculator makes everything easier. Since they’re easy to navigate and use, you can research how to build good bets and how adding/removing different horses will affect the larger bets. With quick information and an overview of your bets, you make better decisions and are more likely to succeed. Even if you’ve been betting on horses for many decades, we believe this calculator will prove a useful tool.
Why not get started today and try our fantastic online odds calculator? No matter the sport, no matter your experience, it makes betting simple!