Betting Odds Calculators
One of the most important things to pay attention to when picking or placing a bet is the odds that are presented to you. With betting odds, there is much to learn in order to fully understand, including how they work, what they mean, how to find the best ones, as well as much more. If you read this piece in detail, you will understand more about the concept, as a betting calculator, depending on the type of bet you wish to place, can be a vital piece of software for anyone wanting to start betting.
What are Betting Odds Calculators?
In general, betting odds calculators are tools that can be used to find out the potential returns from whatever bet you are placing. These calculators, specifically the ones offered here on our site, are easy to use and make the process of choosing the correct type of bet much easier. You can use our Oddsmatcher tool to find which bookmaker is offering the best odds, and then use these odds as your input value when using the calculator. One example is our Single bet calculator, which allows users to enter the odds for 1 singular selection, and then adjust things such as their total stake in order to see the potential returns.
Of course, there is a specific matched betting calculator that is used for bets that require both a Back and Lay selection. If you are wondering, “what is matched betting?”, you can read our detailed introduction and explanation of the process, finding all the information you need through doing so.
One of the most popular options for betting odds calculators that we offer is our Each Way Bet calculator. This is specifically designed for those who enjoy betting on horse racing and want to be able to cover both the Win and Place markets with the most profitable values. Of course, you can take part in horse racing matched betting, but this is different as it involves matched betting rather than just placing regular selections. With this calculator, you can input the total odds of the Win market for your horse, and then choose what fraction the bookmakers are paying for a Place. The calculator then does the heavy lifting for you and calculates the potential returns depending on whether the horse won or placed – it’s as simple as that!
Expanding on the Single bet calculator, there is a tool available on our site that calculates the total odds of an Acca and lets you adjust the different selections within the acca. This is, unsurprisingly, the Accumulator betting calculator, and you can choose how many selections you are going to have in total in your acca, as well as enter the odds for each of these selections individually, adjusting them to match if the bookmaker changes them.
Aside from these calculators, you can also use our Odds Converter to manually change from Fractional to Decimal or American. Most bookies will manually set their odds to Fractional, but you can opt to change them on the site as well as converting them here with this OddsMonkey tool.
Who can use Betting Odds Calculators?
Thanks to the simplistic design and concept of our betting calculators, anyone is able to use them regardless of their experience or skill level. It is possible for newcomers to look at one of our betting odds calculators and easily understand how it works; and if they struggle, there is an explanation written by one of our experts underneath. There is no reason why anyone cannot use our betting odds calculators, whether it’s a veteran horse bettor using the each way bet calculator, or a newcomer just coming to grips with Single betting.
These calculators are built to have no bias, allowing people with even the most minimal maths skills to use them with ease. This is thanks to computer learning, and the fact our calculators do all of the equations automatically. All the user needs to do is enter the details that are asked for on the specific calculators Graphical User Interface.
Why use Betting Odds Calculators?
Betting is supposed to be an enjoyable experience for everyone involved, and one of the main things that ruins this fun for people is the need for them to do mathematical equations before placing their bets. Of course, this takes away from the whole experience of betting, making it much more complex than it ever needs to be. Thanks to these betting calculators, the need to do manual equations is no more, and users can quickly figure out the specifics for their bet using the calculator that applies to their needs.
If this ease of use is not enough reason for you to start using a betting odds calculator, then perhaps you will be convinced by the concept of being able to quickly adjust the odds and selections, and automatically updating the outcomes depending on the inputted values. This, especially when doing a multiple bet like an accumulator, is so useful and increases the overall efficiency massively.
Popular Betting Odds Calculators at OddsMonkey
Aside from the ones we have already mentioned throughout this piece, there are some other betting odds calculators available on our site that could be useful for you.
Dutching is a form of sports betting that allows bettors to place stakes across multiple selections within the same race and potentially minimise the risk of loss. With our Dutching calculator, you can quickly work out how much you would need to place on each selection in order to be covered the most effectively. This is a massive help for events like the Grand National horse race, in which a single race takes place but there are a large number of horses – and therefore, potential outcomes.
One of the most popular forms of multiple used in sports betting is the Trixie, which essentially lets bettors choose 3 selections, and be covered for a return if only 2 of them win. This provides a small safety net to a 3-selection bet, which would otherwise not exist for a regular Treble bet. You can use both our Treble bet calculator and Trixie bet calculator depending on which you are aiming to place a bet for.
Other Betting Calculators