The OddsMonkey website offers a range of essential tools for bettors, prominently featuring a comprehensive selection of betting calculators designed for efficient and precise betting. A standout tool in this collection is the Multi Lay Calculator, which is tailored specifically for facilitating arbitrage betting. This betting strategy entails placing wagers on all potential outcomes of an event across various bookmakers, a method that guarantees a profit irrespective of the event's final outcome.

Incorporating the Multi Lay Calculator into the array of betting calculators available on OddsMonkey represents a significant enhancement of our site's resources. This particular calculator is meticulously crafted to be user-friendly and efficient, ensuring that even individuals new to sports betting can easily utilise it. The primary aim of the Multi Lay Calculator is to simplify the betting process, reducing the learning curve and enabling a seamless betting experience.

What Is A Multi Lay Calculator?

A Multi Lay calculator is an essential tool in sports betting, particularly beneficial for those engaged in lay betting strategies. Lay betting, where a bettor essentially acts as the bookmaker by betting against specific outcomes, requires careful calculation of stakes and potential liabilities. The Multi Lay calculator excels in this aspect, as it is designed to handle several lay bets simultaneously. This functionality is crucial when dealing with multiple events or outcomes, allowing bettors to calculate the stakes and liabilities for each bet in one go. 

This form of betting calculator is slightly more complex than that of an accumulator calculator or any of the other simple options. It is complex in nature but is easy to use, so do not be afraid to try it out for yourself. The calculator only requires a few pieces of input from the user and is useful for trying to figure out what stake to place on various parts of a bet in order to lay every outcome. This covers bet selections such as ‘Match Result and Total Goals, which, when placing a lay bet, would technically be two different selections - NOT total goals and NOT match result.

How To Use A Multi Lay Calculator 

Utilising a multi-lay calculator in sports betting is a straightforward and effective method to identify opportunities for profitable betting. This process begins by acquiring odds for all potential outcomes of a specific sports event from various bookmakers. Multi-lay betting hinges on placing bets on all potential outcomes, making it crucial to have precise and up-to-date odds from a range of sources.

Once you've gathered the odds, the next step involves entering them into the multi-lay calculator. These calculators are adept at managing various types of betting markets, accommodating both two-way and three-way markets depending on the sport and event. In addition to the odds, you should also input your total intended wager – the cumulative amount you plan to distribute across all bets in the multi-lay setup.

Upon entering the odds and your total wager, the multi-lay calculator processes the data to ascertain if a profitable betting opportunity exists. It precisely calculates the stakes for each outcome, designed to guarantee a profit no matter the result of the event. This calculation factors in both the total stake and the odds to ensure optimal bet distribution.

The outcome provided by the calculator is crucial for evaluating the potential profit of the multi-lay opportunity. It advises on the exact amount to bet on each outcome and projects the anticipated profit. Understanding both the practicality and the prospective return of the multi-lay opportunity is vital at this stage.

If the calculator presents a profitable scenario, the subsequent action is to swiftly place your bets with the respective bookmakers as per the calculator's recommendations. Swift action is key in sports betting, as odds can shift quickly. Delaying your bets might mean missing out on the opportunity identified by the calculator.

Why To Use A Multi Lay Calculator

One of the primary functions of this calculator is to determine the liabilities, which is the amount a bettor stands to lose if a lay bet does not go as planned. This aspect is particularly important since liabilities in lay betting can often exceed the stake amount. The calculator also aids in optimising stakes for maximum potential returns while managing risk. It takes into account the odds for each lay bet and the total amount the bettor is willing to risk, offering a clear insight into potential outcomes and helping in efficient risk management. 

The use of a Multi Lay calculator brings significant advantages, such as increased efficiency by automating complex calculations, enabling more informed decision-making, and providing a comprehensive risk assessment. These features make it an invaluable resource for bettors who are serious about optimising their lay betting strategies and effectively managing their risks. Using a multi lay calculator along with other calculators like the implied probability calculator could prove very useful as a combination. Both of these calculators are useful in their own right, but using them together could provide a seamless experience. 

Who Can Use A Multi Lay Calculator

A Multi Lay calculator can be used by absolutely anyone with a bit of practice. Once you understand the basics of how it works, all it takes is inputting some values and hitting ‘calculate’ to see what your output is. This applies to all of the calculators on the OddsMonkey site, as simplicity is at the forefront of our operations, all the way from sports betting calculators to the matched betting tools we have on offer.

More Betting Calculators At OddsMonkey

OddsMonkey extends its range of calculators beyond the realm of sports betting by offering a user-friendly and insightful Blackjack strategy calculator. This tool is particularly helpful for players who want to make informed decisions in Blackjack. It provides guidance based on the cards currently on the table, adhering to the basic Blackjack strategy, which can be complex to memorise.

Our website hosts a variety of tools and calculators tailored to meet different betting needs. Users can easily navigate through our site to select the calculator that best fits their specific betting scenario. Whether you’re looking to place an accumulator bet or simply want to calculate the potential returns from a single wager – for which our single bet calculator is ideal – we have a solution to assist you in making informed betting decisions.

On the OddsMonkey website, a variety of valuable tools are available for bettors. There is an extensive array of betting calculators that are indispensable for time-saving and precise betting strategies. Among these tools is the Arbitrage Calculator, which is especially beneficial for calculating the stakes needed for arbitrage betting. Arbitrage betting, in simple terms, is a strategy that involves placing bets on all possible outcomes of an event across different bookmakers, thereby ensuring a profit regardless of the event's outcome.

The integration of the Arbitrage Calculator into OddsMonkey's suite of betting calculators significantly enhances the resources offered on the site. Each calculator, like the Arbitrage Calculator, is developed with a focus on user-friendliness and efficiency. The goal is to provide a tool that is easy to understand and use, even for those who are new to sports betting, ensuring a straightforward experience with minimal learning required.

What Is An Arbitrage Calculator?

An Arbitrage Calculator in sports betting is a specialised tool that enables bettors to identify and capitalise on arbitrage opportunities. These opportunities arise when there are discrepancies in the odds offered by different bookmakers for the same sporting event. By placing bets on all possible outcomes of the event across various bookmakers, a bettor can ensure a profit regardless of the result. Using an arbitrage calculator when sports betting is a great way to make money online if done correctly. 

The functionality of a sports betting arbitrage calculator revolves around its ability to work out the optimal stakes to be placed on each outcome. Bettors input the odds from different bookmakers, and the calculator assesses whether there is a profitable arbitrage opportunity. It then suggests the amount to be staked on each outcome, considering the total investment the bettor is willing to make.

Using an arbitrage calculator in sports betting comes with significant benefits. The most notable is the ability to secure risk-free profits. It eliminates the need for manual calculations, which are not only time-consuming but also prone to errors. This efficiency makes arbitrage betting more accessible to a wider range of bettors, from beginners to experienced ones. This calculator is more complex than the single bet calculator we offer at OddsMonkey.

However, there are certain considerations to keep in mind. The odds in sports betting can change rapidly, and the calculator provides information based on current odds, necessitating quick action by the bettor. Additionally, to release a substantial profit, a considerable investment might be required. Another important aspect is that bookmakers may limit or close the accounts of bettors they identify as using arbitrage strategies, which is a risk that needs to be considered.

How To Use An Arbitrage Calculator

Using an arbitrage calculator in sports betting is a process designed for simplicity and efficiency, allowing bettors to identify profitable opportunities easily. The first step involves gathering odds for all possible outcomes of a particular event from different bookmakers. Since arbitrage betting requires wagering on all possible outcomes to ensure a profit, having accurate and current odds from multiple sources is essential.

Once you have collected the odds, the next step is to input them into the arbitrage calculator. These calculators are typically designed to handle different types of betting markets, whether two-way or three-way, depending on the sport and the specific event. Along with the odds, you will also need to enter your total stake – the amount of money you intend to wager across all bets in the arbitrage opportunity.

After inputting the odds and your total stake, the calculator will process this information to determine if there is a viable arbitrage opportunity. It calculates the exact amounts to be bet on each outcome, ensuring a profit regardless of the event's result. This calculation takes into account the total stake and the odds to optimise the distribution of your bets.

The results provided by the calculator are crucial in assessing the potential profitability of the arbitrage opportunity. It will indicate how much you should place on each outcome and the expected profit from the bets. This step is vital for understanding both the feasibility and the potential return of the arbitrage opportunity.

If the calculator indicates a profitable opportunity, the next step is to place your bets with the respective bookmakers according to the calculator's suggestions. It's important to act quickly, as odds in sports betting can change rapidly, and the opportunity might no longer exist if there's a delay in placing the bets.

Why To Use An Arbitrage Calculator

An arbitrage calculator is an incredibly useful tool for managing your risk when betting on various sports. This can eliminate the complexity of doing physical calculations and make your betting experience as seamless as possible. The approach of using this calculator can be beneficial regardless of your experience level, and the calculator itself is very easy to use. 

The calculator simplifies this complex process by automatically computing the optimal amount to bet on each outcome. This not only saves time but also minimises the risk of human error in calculations. By using an arbitrage calculator, bettors can quickly identify profitable betting opportunities, calculate their potential returns, and make informed decisions. This tool is especially useful in the fast-paced betting environment, where odds can change rapidly, and timing is crucial. In essence, an arbitrage calculator, much like the matched betting calculator, is a key tool for any sports bettor looking to engage in risk-free betting strategies effectively.

Who Can Use An Arbitrage Calculator 

Anyone who is interested in sports betting and making it easier for themselves can use these calculators. They are designed to be easy to use regardless of your experience level, so you can pick up the arbitrage calculator and use it alongside one of our sports betting guides to have a successful journey through sports betting.

More Betting Calculators At OddsMonkey 

You can find a whole host of betting calculators on the OddsMonkey site, including this arbitrage calculator and some less sport-related ones like the Blackjack strategy calculator. Every calculator on our site is designed to keep things simple, and they all do it perfectly. 

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!

In regards to the world of matched betting, informed decision-making and pinpoint precision is of paramount importance. This is simply down to the fact that not having the correct odds or stakes could be the difference between locked-in profits and potential losses. However, there is a whole plethora of tools that you could use as part of your arsenal to aid you when it comes to matched betting.

The expected value calculator is just one of the many betting odds calculators available; this helps users calculate potential returns with unrivalled accuracy, helping them make strategic choices with their matched betting endeavours.

What Is Expected Value?

Before we delve into how an expected value calculator can aid you, we must first explain what exactly the expected value is in terms of betting. Put simply, expected value, often abbreviated to just EV in betting terms, is how much, on average, you could theoretically expect to win based on the probability of the odds at hand. This is based on statistics and considers the potential losses and profits of each choice involved in a bet.

By utilising all these key pieces of information, an expected value calculator can evaluate the value of a bet over the long term, hence assisting in the decision-making process. It is worth mentioning however that this tool specifically is only in reference to casino promotions and offers, some of which we will be diving into in more detail shortly.

How Does An Expected Value Calculator Work?

The expected value calculator at OddsMonkey requires a number of key pieces of information to accurately determine the theoretical value of a casino offer you have at your disposal. This can be divided into several sections, all of which are extremely easy to use.

First, bettors select what casino offers they actually have at their disposal, with the two main options being free spin offers and bonus money offers. If it is the former, the calculator requires the initial wagering information, with that relating to the qualifying bet amount that was required in order to actually claim the bonus, as well as the RTP of the game the initial wager will actually be used on.

From here, the expected value calculator requires the details of the bonus received. This could either be the number of free spins and the value of each or the value of the bonus credits and the wagering requirement that this offer may come paired with. However, regardless of the type of casino bonus, the RTP of the games they are used on is also required. The free spin section of the calculator has an option for wagering requirements, too, should these terms and conditions be applicable.

From here, the expected value calculator can determine the perceived value of any profits that could be expected based on the information input. From here, you can determine whether or not a promotion is worth claiming in the first place, as well as helping maximise any potential returns by inputting different RTPs from different games.

What Is RTP Exactly?

RTP is a term we have thrown around a lot in the prior section; however, if you are new to the online casino space, you may actually be unfamiliar with the term. This stands for ‘return to player’ and is essentially a percentage of wagers that a player could expect to receive back from a game over a long period of time. Although this could give a good indication of how a game may play out, it is vital to bear in mind that this percentage is completely theoretical and does not guarantee any returns.

Why Use An Expected Value Calculator?

There is an array of benefits that an expected value calculator presents that makes them indispensable tools for anyone who participates in matched betting or just wants to make the most out of the offers they may have claimed. One of the main qualities relates back to its ease of use, with the interface of this calculator being user-friendly and uncomplex, only requiring key pieces of information in order to give you the potential returns of an offer easily.

Due to this, an expected value calculator can streamline any calculations you may have had to do manually beforehand, ensuring accuracy and invaluable precision, all whilst increasing overall efficiency and saving impressive amounts of time in the process.

As we have already touched upon, an expected value calculator can determine the perceived value of a casino promotion and, as a result, helps identify potentially profitable offers and bonuses. Due to the abundance of casino promotions that are out there, this can help you develop a strategic plan to get the most out of the ones available to you, as well as help bettors manage risk by highlighting offers with poor expected value.

Who Can Use The Expected Value Calculator?

Due to the versatility of the expected value calculator, pretty much anyone who has a casino promotion at their disposal can use this tool. However, if matched betting is one of your side hustles, this can come into play predominantly thanks to it assisting those in assessing the value of the promotions they have to use. Inputting different RTPs of different games can help you optimise the whole process in order to have the best-perceived returns. However, anyone who wants to maximise the potential returns of a promotion effectively can use this calculator, with the aforementioned ease of use facilitating this possibility. 

More Betting Calculators at OddsMonkey

If you want to use the expected value calculator for yourself, there is one available right here at OddsMonkey. This includes all of the features, benefits and overall qualities that we have touched upon applying to it directly.

It is not just the expected value calculator we have on-site either, though, with there being so many alternatives, each of them tying into a different type of betting format. For example, if you are someone who prefers to place multiple selections in a singular bet slip, then the accumulator betting calculator could help determine potential returns, combining the different odds of your selections automatically.

On the other hand, if you prefer a no-risk approach to sports betting, then the matched betting calculator is most likely your most valuable, too. This can take the odds of both your back and lay bet and provide the required stakes in order to lock in a margin of profit.

All of these can be found on-site, and some can even be checked out thanks to our OddsMonkey free trial!

One thing that we pride ourselves on here at OddsMonkey is our range of betting calculators accustomed to all different styles of betting and strategies. One such example is this Kelly Criterion calculator, which, when used in the correct way, can be very beneficial to your betting experience. The Kelly Criterion is a betting theory that connects betting size to implied odds and calculates how much you should place to create some form of betting equilibrium.

This piece of software joins a whole list of other betting calculators on our site that can be used to improve your accuracy when placing bets. This particular calculator is simplistic in nature, only requiring 3 pieces of data to input - the Kelly multiplier, the odds of the bet, and the win percentage as implied probability states. It really is that simple, and that’s what we aim for with all of our calculators and even with our matched betting tools.

What Is Kelly Criterion Calculator?

Prior to explaining the calculator itself, we will first explain what exactly the Kelly Criterion actually is. In simple terms, it correlates to a formula for sizing your bet based on a few factors that can be displayed on a graph for easier understanding. It is based on logarithmic ideology, which is a confusing topic in itself but is the opposite of exponential growth, which implies something will continue to grow at the same rate. Exponential growth refers to the mathematical concept that growth is equivalent to the initial value, whereas logarithmic implies that the value is multiplied by itself until it reaches the desired value.

Now that’s out of the way, the calculator is the main focus. After reading the previous section, you may be incredibly confused, which is understandable. That is one of the first benefits of using the Kelly Criterion calculator - you do not need to use or understand any of the arithmetic or do any of the equations yourself. The calculator does all of this for you based on your input values. You can find more simple strategies on our site, such as placing an accumulator bet, for which you can use our accumulator bet calculator!

How To Use Kelly Criterion Calculator

Using the Kelly Criterion calculator is as simple as loading it up and entering your desired values. You will see that the calculator has 3 input boxes, as mentioned earlier. The third of these values is the implied win probability of the bet you want to place, and you may be confused as to how this is calculated. Well, you can use our Implied Probability calculator to convert your bet’s odds into their percentage. This calculator can be combined perfectly with the Kelly Criterion calculator. Once your values are entered, you can press ‘Calculate’, and your information will be outputted in an easy-to-understand format, ready to use for your bet.

Why To Use Kelly Criterion Calculator

All of the benefits mentioned above are reasons that you may choose to use this Kelly Criterion calculator. Of course, there are other Kelly Criterion calculators out there, but the main reason to choose OddsMonkey is that it is placed on the site alongside a plethora of other calculators, betting guides, and further bits of software that can all be combined to make your betting experience seamless and enjoyable.

If you want a secure betting strategy, you could try out matched betting. What is matched betting, you may wonder. It is an incredible betting strategy that involves utilising free bets from various bookmakers to place bets on all outcomes of a fixture. For example, you could bet on a player to win a tennis match and then place another bet on the player to NOT win the tennis match. This means whatever happens, one of your bets will win. Using a matched betting calculator, you can figure out what amounts to place on both ends of the bet in order to either break even or profit without any risk.

Who Can Use Kelly Criterion Calculator

As is the case for all of the software and betting calculators on our site, the Kelly Criterion calculator can be used by anyone who is looking to include it in their sports betting. It may look daunting at first, but once you have had practice and understand what is needed for the calculator to work, you are off and running.

More Betting Calculators At OddsMonkey

The range of betting calculators offered by OddsMonkey is not limited to just sports betting options, as we also offer an insightful and easy-to-use Blackjack strategy calculator. This specific calculator can help you make the right decision based on the current cards that are on the table and uses the basic blackjack strategy that is sometimes difficult to memorise.

You can find a range of tools and calculators on our site and flick between them to find the one that suits your specific requirements. Whether it’s an accumulator you are placing, or you just want to work out your returns from a single bet - which you can use a single bet calculator for - there is an option for you.

On the OddsMonkey site, you can find a range of useful tools, including a list of betting calculators that are incredibly useful for saving time and betting accurately. One of the calculators on offer is the Hedging calculator. This calculator is extremely helpful for working out how much you need to place on either of a hedging bet. A hedging bet, to explain simply, is a format of betting that involves placing two stakes on either side of an outcome to cover both bases while minimising your risk.

The addition of the hedging calculator to our range of betting calculators marks a significant enhancement to the resources available on-site. Each calculator, including the newly introduced hedging tool, is meticulously designed to prioritise user-friendliness and efficiency. Our aim is to ensure that even those new to sports betting can easily navigate and utilise these tools with minimal learning curve.

What Is A Hedging Calculator?

In the context of sports betting, a hedging calculator is a specialised tool designed to assist bettors in determining the optimal amount to wager on a contrasting outcome and have a better chance at making money online. This is particularly useful for securing a profit or minimising losses, especially when the odds change or the event nears. The calculator considers the odds of both the initial and hedging bets, as well as the stakes, to work out the best hedging amount. 

Now that you understand hedging, the hedging calculator is easy to explain. This calculator requires some basic input from the user, and then all of the calculations are done automatically by the system. This is one of the simpler calculator tools along with the single bet calculator, although there are a few more complex ones for different strategies.

How To Use A Hedging Calculator

Using a hedging calculator involves inputting the stake of your original bet and its odds. Then, you enter the current odds for the hedging bet, which is the bet on the opposite outcome. The calculator processes this information to suggest the ideal amount you should wager on the hedging bet. This ensures that you either lock in some profit or reduce the potential loss, regardless of the event's outcome.

After entering these odds, the calculator does the complex maths for you. It calculates the ideal amount you should place on the hedging bet. This amount is calculated in a way that either locks in a certain profit or minimises the risk of losing, regardless of the outcome in play. The beauty of a hedging calculator lies in its ability to turn these complex calculations into a simple, easy-to-understand result, allowing you to make informed and strategic betting decisions quickly.

Why To Use Hedging Calculator

A hedging calculator is a vital tool for managing risk in sports betting. It eliminates the complexity of calculating the optimal hedge manually, especially with changing odds. The calculator aids in making informed betting decisions grounded in mathematics rather than guesswork or emotional bias. This approach is particularly useful for bettors seeking to minimise risks and ensure consistent, albeit smaller, wins.

Speed is another crucial aspect of our betting calculators. We understand that the betting world moves quickly, and the odds can change in a matter of minutes. Therefore, our calculators are optimised to process inputs and deliver results rapidly. This promptness is essential, especially for live betting scenarios where time is of the essence.

Who Can Use A Hedging Calculator

Hedging calculators are not limited to a specific type of sports bettor. They are valuable to anyone engaged in sports betting, including beginners and experienced sports gamblers, as well as those involved in arbitrage betting. Arbitrage bettors place wagers on all possible outcomes of an event at odds that guarantee a profit. The tool is also helpful for risk-averse bettors who prefer consistent outcomes. You could also try out matched betting for similar results.

One of the key features of our calculators is their simplicity in design. Users are not overwhelmed with complex interfaces or technical jargon. Instead, they are presented with clear, straightforward input fields and instructions. This design choice makes it possible for all users to quickly input their data and receive accurate results without the need for extensive betting knowledge or experience.

More Betting Calculators At OddsMonkey

OddsMonkey offers a range of betting calculators beyond the hedging calculator. These include tools for matched betting, each-way betting, and other strategies. They are designed to facilitate precise calculations for optimal betting strategies, making them essential for anyone involved in sports betting.

Along with the sports betting calculators on offer at OddsMonkey, there are some calculators designed to make casino gameplay more calculated. These include the Blackjack strategy calculator, which is incredibly useful for informing you on what the next best move to make would be based on the current cards in play. This joins plenty of other tools and calculators available from OddsMonkey.

Navigating the realm of online sports betting often poses a challenge, particularly when it comes to unravelling the intricacies of odds calculation and understanding the impact of additional selections on the overall odds of a bet. To address this, utilising an Implied Probability Calculator proves invaluable. Various platforms offer these calculators in diverse formats, each catering to distinct bet types and outcomes. Among the noteworthy options is the Implied Probability Calculator provided by OddsMonkey, designed with user-friendliness in mind.

At OddsMonkey, this implied probability calculator can present some serious benefits to those who choose to use it. Essentially, this calculator allows you to figure out the implied likelihood of the selection you have chosen. Implied probability is the expected chance of the bet coming true and can be calculated based on the odds presented by bookmakers. You can use this implied probability calculator to spot value in specific bets where you think the likelihood is higher than what the bookmaker offers. This value-hunting technique is made much easier with a calculator, saving you a lot of time in the process.

What Is An Implied Probability Calculator?

To go into further detail about the premise of an implied probability calculator, you first need to understand the concept of implied probability. For a bookmaker to make money, they have to slightly overprice one side of a bet and slightly underprice the other side. They figure out these prices based on the implied chance of an event occurring based on previous results of the same event. 

Here is an example that ties in with our football betting guide. If you want to bet on a game between a top-of-the-league team and a weaker side, the odds will be very one-sided. If 5 of the last fixtures between these teams have had 3 or more goals, and the weaker side is defensively poor, the implied probability of this game having Over 2.5 goals is quite high. For that reason, the odds for Over 2.5 Goals will be quite low. On the other side of the bet, a game having Under 2.5 goals is relatively unlikely based on the statistics, so the odds for that market would be higher.

How To Use An Implied Probability Calculator

Sports betting can be used as a decent side hustle if done sensibly and with the correct tools and software. This implied probability calculator, as mentioned, can introduce sports bettors to a system that involves spotting hidden value in the crosshair between the bookies' implied odds and your own belief in what the probability should be. This is a less secure system of betting than things such as matched betting, but you can try out different styles and see what works best for you.

Why To Use An Implied Probability Calculator

Other than all of the benefits already listed, one of the main reasons to use an implied probability calculator is that it takes away the hassle of having to do any confusing or long maths sums yourself. Thanks to the code used to create the calculator, all of the maths is done for you as soon as you enter your values and press ‘Calculate’.

Not only this, but the calculator also has an unintentional secondary benefit of allowing you to convert decimal odds into fractional ones. Simply enter the decimal odds of your bet into the labelled box, and when you press calculate, the fractional equivalent will be outputted along with the implied probability percentage. You could also use our Average Odds calculator to find out the average odds of multiple selections or our Odds Converter software to switch the format of your bet odds further.

Who Can Use An Implied Probability Calculator

Anybody can use any of the betting calculators presented by OddsMonkey, as they are designed with simplicity and usability in mind. Of course, the more complex calculators could take some getting used to, but all of them use the same format of simply inputting the data that is asked for and then pressing a quick button!

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Matched betting was mentioned briefly in this description and probably left you with one question on your mind: what is matched betting? Matched betting is the process of using bookmaker offers and free bets to place a stake on both sides of an event, covering all outcomes and securing either a profit or another free bet. Tools like our matched betting calculator are vital pieces of software that can greatly improve your matched betting experience.

Outside of these calculators, all focused on sports betting, we offer casino-related calculators, too. One example is the Blackjack Strategy calculator, which gives you insight into what your next move should be depending on the visible cards on the table. This is very useful for those who do not know the basic Blackjack strategy or cannot remember it while actually playing.

In the world of online sports betting, one of the biggest problems people face is calculating the odds and how adding other selections could affect the total odds of a bet. One of the best things to do is use a betting odds calculator, although these come in many different formats, all of which help you calculate different types of bets and different outcomes. The average odds calculator at OddsMonkey is designed with ease of use and value to bettors in mind.

This specific average odds calculator is good for figuring out what your average odds are when you add new selections to a bet, as well as figuring out the total stake between each of the bet markets. This is especially useful when you are using free bets on some selections and real money on others. You are able to figure out the margin between the two bets and see what the average odds are so you can figure out how to divide your total stake in the most efficient way.

What Is An Average Odds Calculator?

As previously explained, an average odds calculator is a type of digital calculator that takes input from a user and works out both the total stake and the average odds. If you are unfamiliar with the maths used to find an average, the calculator will add up all of the odds - in decimal format - and then divide them by the number of stakes entered. Opting to use this average odds calculator from OddsMonkey will greatly improve your experience when trying to find out the average odds of a selection of bets - save yourself the hassle of doing the calculations manually.

How To Use An Average Odds Calculator

If you are betting to try and make money online, then one of the best ways to ensure you are aware of the cost and risk is to use a betting calculator like the average odds calculator. This calculator is especially good if you are placing wagers using a free bet on one selection or something like an accumulator where one selection can be frozen. You can work out how to evenly divide your stake in order to cover all bets at the same odds, by their average.

Why To Use An Average Odds Calculator

We have addressed a few of the main positives of choosing to use an average odds calculator here. These could include the reduction of difficulty when compared to doing manual calculations, as well as the informational results it can give you in relation to your bets. Other benefits of using the OddsMonkey average odds calculator include the fact it can be easily combined with other pieces of our software or other calculators.

As an example, you could prefer viewing your odds in fractional values, which is quite common for many sports bettors. As the average odds calculator takes odds in the decimal format, you could first use our odds converter tool to turn your fractional odds into decimals and then use these values in the calculator before using the converter to turn these odds back into the decimal display.

Who Can Use An Average Odds Calculator

In essence, anyone can use the average odds calculator on OddsMonkey, as it is designed to be as easy as possible to pick up and start using. The layout is as easy as clicking into the input boxes and typing the desired values, then hitting the ‘Calculate’ button to see your result.

All of the betting calculators on our page are designed to be simplistic to use but detailed in results. All the way from this average odds calculator to the more complex matched betting calculator, our software is simple, and anyone can use it with a little bit of practice! If you are yet to test out the matched betting calculator or are now wondering, ‘What is matched betting?’ then you’ve come to the right place. The quick summary is that matched betting is the process of backing both sides of an outcome whilst utilising free bets to lock in a small profit.

More Betting Calculators At OddsMonkey

It’s not only sports betting that we offer calculators for at OddsMonkey. We also offer calculators such as the Blackjack strategy calculator, which is used by blackjack players and tells you what the most ideal next move would be based on your own cards and the dealer’s visible card. This calculator, along with others like the Accumulator calculator, is incredibly useful and can be used by absolutely anyone and everyone.

There is a huge range and variety of betting calculators on the OddsMonkey site, so have a browse through them and see which one matches your requirements. If you get stuck using one of them, read the content underneath, much like this piece for the average odds calculator.

The casino world has only had a few constants since the establishment of these venues, with one of these being blackjack. This card game has been a fan favourite ever since originating back in France in , with the game pitting players against the dealer as opposed to one another like it does with poker. Blackjack itself has various different odds relating to different hand values and a number of side bets that could be utilised, however, it is important to have a strategy in order to be effective at the game in general.

However, this is where the blackjack strategy calculator here at OddsMonkey could come into play. This could help you understand how to play the game better as well as letting you know when you should stand, hit based on hand values.

What Is Blackjack Strategy Calculator

In the most straightforward of terms, a blackjack strategy calculator is a tool that can help users understand when to hit and when to stand when playing online blackjack. This easy to use piece of software allows players to understand the best possible strategic decisions to take based on their hand values. By taking these simple pieces of information into consideration, it calculates the optimal play so that players can make more informed betting decisions when playing blackjack.

If you are looking for more information on the optimal plays in blackjack, then check out our Blackjack Cheat Sheet.

How To Use A Blackjack Strategy Calculator

Like we have already mentioned, the blackjack strategy calculator is a simple to use and easy to understand piece of software. In order for this calculator to accurately run its algorithms, there are only a select few pieces of information required. These include:

• The dealer's card.

• The players 1st and 2nd dealt cards.

• Whether or not the dealer stands or hits on a soft 17.

• Whether or not a surrender is allowed.

From here, the blackjack strategy calculator will recommend the player to either stand or hit depending on their hand. If a hit is recommended, the player can then input their next card value into the blackjack strategy calculator in order to determine whether to take another card or to stand. In addition to this, the blackjack strategy calculator can also recommend for a player to split a hand should the two cards that are initially dealt be of the same number or royal.

This ease of use applies to all other betting calculators housed here at OddsMonkey, with all of these being user friendly and easy to understand, all whilst being extremely effective, informative and accurate.

Why Use A Blackjack Strategy Bet Calculator

One of the main reasons for using the blackjack strategy calculator is the insight it offers for each hand of blackjack. Although blackjack is completely a game of chance, this tool can allow users to make more informed decisions by taking into consideration the probabilities of going bust and hitting blackjack with both the players and dealers hands. This means that you could play the game of blackjack more strategically by utilising the algorithm's suggestions as opposed to just basing your decisions on pure instinct.

Not only can the blackjack strategy calculator teach players how to play blackjack smarter, but it will also potentially eliminate any errors that could be made. By calculating the best possible option for winning a hand of blackjack, it will tell you what the next move should be, once again based on probabilities as opposed to your own inclination.

Who Can Use The Blackjack Strategy Bet Calculator?

Now that you are aware of what a blackjack strategy calculator is, how it is used and the benefits it offers, you may be wondering who exactly could use this tool. Simply put, anyone who wishes to play online blackjack could use the blackjack strategy calculator. The ease of use and simplistic layout that it presents means that there are no obstructions in order to understand it. What's more, it does not only apply to new blackjack players either, with experienced ones also being able to utilise the benefits it presents in order to maybe assert a more data driven playing style.

However, although the blackjack strategy calculator can be used by all different levels of players, it is worth noting that you can likely only use this should you be playing blackjack solely online. A majority of casinos do not and would not allow for a player to openly use their mobile phones when playing at a casino table or machine, nevermind if they knew it was a blackjack strategy calculator that would theoretically reduce the houses chances of winning.

More Betting Calculators At OddsMonkey

It is not just the blackjack strategy calculator we offer at OddsMonkey though, with there being a whole range of alternative calculators tailored more specifically to the world of matched betting. Although matched betting cant be utilised in regards to blackjack, this betting strategy could help lock in margins of profit by covering all possible outcomes of an event.

There are a range of different tools such as the matched betting calculator and the accumulator betting calculator, both of which only require specific inputs in order to accurately calculate potential returns.