When it comes to the world of sports betting, this is a market that is constantly seeing changes and shifts, all whilst innovating and evolving. Originally, betting mainly involved singular betting, with the appropriate technology yet to be utilised. However, since bookmakers transitioned into the online space, this has opened up a plethora of different betting options.
One of the simplest forms of betting options is the double bet. Put in the simplest of terms; this involves placing two individual bets on two different sporting outcomes. However, these two separate bets are combined into one singular wager to increase the overall odds of the double bet.
However, one tool that can help you get the most out of these types of bets is the Double Bet Calculator. This has numerous benefits, both in terms of regular bets and even matched betting, all of which we will be dissecting for you.
What is a Double Bet Calculator?
A double-bet calculator is a simplistic tool that offers ease of use when placing double bets. This tool has one main use: to calculate any potential returns of a double bet. This is achieved by simply inputting a few key details into the double bet calculator.
The first of these required factors are the overall stake of the bet. The next set of information required is the odds of the two separate legs within the double bet. The odds of these can easily be changed between either fractional or decimal, depending on whichever metric you prefer. Finally, the result of the bets. In this segment of the calculator, you can input whether the bet won, placed, lost or was voided, with each way also being an option you can select should you be betting on horse racing. If this is of particular interest, we also have an Each Way Calculator on site.
Once all of this vital information has been given to the calculator, this allows it to simply determine the potential payouts depending on the factors you have given it. This also takes into consideration the stake of the original double bet, displaying the actual profit the respective bet could generate, as well as the overall return.
Why use a Double Bet Calculator
Now that we have broken down what a double bet calculator is and how it works, we can start detailing the numerous benefits this could offer regarding your sports betting experience and why you should generally use one.
First of all, a double bet calculator can ensure that accurate calculations are provided to you before placing your bets. Consequently, by being able to understand what are the potential returns and odds in play, it can allow bettors to make more informed betting decisions, all whilst avoiding any potentially costly mistakes.
Another beneficial reason for using the double bet calculator is its increased efficiency; it can save you quite a lot of time. If you are placing multiple bets, this could be a time-consuming process should you wish to work out the potential returns beforehand manually. However, utilising the double bet calculator, or any of the other Betting Calculators, as a matter of fact, can negate all these necessary calculations as it does all of this for you!
What’s more, using a double bet calculator could potentially help you identify some of the most profitable betting opportunities. In turn, this could also help you to potentially minimise some risk as it allows you to calculate potential outcomes and accordingly adjust any stakes.
Who can use the Double Bet Calculator?
With all the benefits the double bet calculator offers, you may be considering who can use it to their advantage. Simply put, anyone who is interested or involved in sports betting can utilise this useful tool. As previously mentioned, the double bet calculator is easy to use and doesn’t require any previous experience or knowledge of betting. All you need to do is enter the details of your bet, and the calculator will do the rest. Whether you are a beginner or an experienced bettor, the double bet calculator we have at OddsMonkey can be a valuable tool to have in your arsenal.
More Betting Calculators at OddsMonkey
Should you wish to test out some of the many other betting options that are out there, we here at OddsMonkey have a wide range of other betting calculators. Each of these corresponds to various betting situations, but all help to make more informed betting decisions.
One of the most popular alternatives we have on our site is the Single Bet Calculator, which works in an almost identical way to the double bet calculator. However, this simply removes the second leg of the bet. This is great should you wish to place more simplistic bets but still want to make some calculations beforehand; this tool could come into use and aid in your betting experience.
Alternatively, the Matched Betting Calculator could be extremely handy if you want to take things to the next level and maximise profits thanks to deposit bonuses and free bets. Due to the numerous bonuses bookmakers now give out fairly regularly, you can cover both outcomes of an event and lock in profit thanks to this tool.