Dead Heat Calculator

When it comes to sports betting, there are a number of different outcomes that can take place, as is the case with the unpredictability involved. However, one such event that is rather rare yet highly impactful on the outcome of a bet is a dead heat. These can impact the potential returns of your selections, with this being the case, especially in certain sports. However, with the dead heat calculator here at OddsMonkey, all of this can easily be calculated to help you understand how a dead heat may affect your matched bet.

What Is A Dead Heat?

Before delving into any specifics, though, we must fully explain what a ‘dead heat’ is. This is something that can occur within the realm of sports betting should two or more of the participants in an event finish with identical results, hence making it impossible to determine an out-and-out winner. 

A dead heat most commonly occurs in sports with a racing format, where closely contested races end with competitors tied neck and neck at the finish line. Due to the disruption this could cause when declaring a winner with sports bets, bookmakers have established dead heat rules to address the outcome should these situations occur.

How Does A Dead Heat Work?

With a dead heat, the way in which any potential payouts are calculated works differently from most other betting formats. In a dead heat, each participant involved in the tie receives a share of the total stake. The odds of the selections involved are also reduced in order to reflect the shared outcome, with these odds being used to calculate the potential returns in proportion to the divided stakes.

This way, bettors tend to receive a fraction of the potential return that could have occurred if the selection in question had won outright in comparison For example, say if you placed a stake on a horse at odds of 6/1, but it came in a dead heat with one other horse, the odds may be reduced to 3/1.. Essentially, the returns would be half of what could have been if the horse had won outright instead. If there is more than one horse involved in this dead heat, the odds will be divided accordingly based on the number of participants.

However, all of this is done automatically when using the dead heat calculator we have at OddsMonkey, which we will touch on next.

How To Use A Dead Heat Calculator 

A dead heat calculator works by inputting a number of key pieces of information related to your betting selections to help determine the potential returns of a matched bet should a dead heat occur, much like all betting calculators on site. 

Before doing this, though, you have the option to select between the type of bet the dead heat is in relation to, with these including win-only, place-only and each-way bets. With these dead heat calculators, though, the back stake and their respective odds are required for all different options, with the same applying to the lay side of the bet, too. In addition to this, any potential commission taken by the exchange can be input within the lay section of the calculator. 

From here, the place where your selection finished can be input into the dead heat calculator, as well as the number of participants that have been involved in the dead heat.

With the place-only and each-way dead heat calculator, though, bettors can also input the number of places paid in order for the tool to calculate any potential returns in line with the type of bet you have placed.

The Benefits Of Using A Dead Heat Calculator

By employing a dead heat calculator this could potentially yield a whole host of advantages, one of those being its overall precision. By inputting the relevant pieces of information that we have already touched upon, the calculator guarantees accurate calculations, mitigating the risk of any potential errors that could be made if choosing to do the calculations manually in comparison. By having these more accurate calculations, betters can develop more strategic approaches in regard to dealing with dead heat.

Tying back to the automatic calculations, the dead heat calculator can streamline the overall process, saving impressive amounts of time in both the short and long term, should this tool be used frequently.

Who Can Use The Dead Heat Calculator? 

Thanks to the overall versatility of the dead heat calculator, anyone who may wish to use it can. However, there are certain audiences for which this tool is tailored specifically, one of those being horse racing enthusiasts. As this sport is where dead heats are most likely to occur due to the nature of closely contested races, having this tool at your disposal when horse racing betting can be extremely useful to accommodate for these occurrences.

However, the dead heat calculator is not only limited to horse racing, as fans of greyhound betting and golf betting could also come into contact with dead heat. With greyhound racing, the concept of a dead heat is exactly the same as in horse racing, but with golf, a dead heat can occur if two or more players tie for a certain position on which bettors may have placed a stake.

Anyone who may be involved in matched betting could also find the dead heat calculator indispensable. As all outcomes are covered with this betting strategy, matched bettors could still lock in margins of profit should a dead heat occur. However, the portions of your back and lay bet stakes will be divided proportionally in relation to the winners of a race.

More Betting Calculators at OddsMonkey 

It is not just the dead heat calculator that we have available at OddsMonkey either, with an abundance of other betting calculators on site that can help you streamline your betting experience.

One of the more useful options that can tie into horse racing is the accumulator calculator. With horse racing, a popular thing to do is to combine multiple different selections on a single bet slip. With accumulators, usually, all selections have to win to be deemed a winner; however, this is a little different when it comes to horse racing. 

This is because each way betting is a possibility with horse racing bets, essentially meaning a horse can finish within a certain amount of places and still produce a return, albeit at lower odds. Therefore, using the accumulator calculator can allow you to input all the relevant information, including each way selection, to determine any potential returns.

If you wish to get the most out of any free bets you may have to place on a horse race, then you could potentially utilise matched betting, using the free bet to cover the back side of your bet. Using the matched betting calculator in tandem with this, you could potentially lock in a profit margin if the lay bet odds are equal to the back ones!