It is easy to calculate the returns from a single bet. For example, if the bet is €/$/£10 at 2/1, the return is €/$/£30. That amount is made up of the winnings (€/$/£20) and the stake (€/$/£10). However, the calculation gets more complicated for an each-way bet. Industry-standard place terms determine bet settlement.
The mechanics are more complex for system bets which involve permutations. So, in some cases, calculations must take into account a Dead Heat or Rule 4 Deduction. Spreadsheets aid calculations and are less time consuming than manual calculations. However, the calculator automates the settlement of bets and covers all the potential scenarios. The options include an each-way bet calculator and matched bet calculator.
What is a Bet Calculator?
A bet calculator is a betting trading tool which works out the returns from winning bets. The calculation takes into account the stake odds, type of bet and any unusual circumstances. Most bookmaker websites feature a free bet calculator. So, good examples are the William Hill and Ladbrokes bet calculator. Bettors can subscribe to sites that offer trading tools. This article will examine the match calculator with Betburger, RebelBetting and OddsMonkey. These sites generally have a subscription cost. However, there are other sources that provide a free bet calculator. So, each provider offers slight variations. But there are a number of common features within a bet calculator.
Types of Bet Calculator
The basic workings of a calculator are the same for each type. The objective is to calculate the returns from a bet. However, the bet calculator is generally not sport-specific. The calculations for a horse racing Yankee bet, for example, are the same for that bet including football teams. So, there are different scenarios in horse racing, which takes the calculation away from the norm. The tool incorporates betting rules for each sport. Here are the most popular examples of a bet calculation tool:
Win And Each-Way
The win and each-way calculator carries out the most basic calculations. This type of bet calculator is particularly useful for horse racing. Win bets are self-explanatory, but each-way bets are subject to place terms. So, the type of race and number of runners determine the place odds and number of places. For example, each-way bets are calculated at one fifth the odds for three places in a non-handicap with eight or more runners. The place terms for a handicap with 16 runners or more are one quarter the odds for four places. The William Hill calculator incorporates place terms.
There are scenarios in horse racing which change the calculation. The Ladbrokes bet calculator takes on board the variations from the normal calculation. If there is a dead heat between two or more horse for first place or one of the payout places, the calculation changes.
When a horse is withdrawn from a race and bookmakers do not have enough time to create a new market, Rule 4 Deductions apply. Bookmakers adjust the odds on the winner and placed horses on a sliding scale. The odds of the withdrawn horse determine the percentage deduction. The best win and each bet calculator handles these situations seamlessly. The bet calculator is most useful for complex bets.
Matched betting is about taking advantage of bookmaker free bets and bonuses. The process involves placing back bets using free bets. There is a counter lay bet to create a low-risk profit situation. Bettors place a qualifying bet to claim the bonus. The bonus expires after a specific number of days. So, a matched bet calculator works out the stake at the current odds. This calculation means the bettor makes money regardless of the outcome of the event. Betburger and RebelBetting provide the match calculator for customers and subscribers.
So, there are two elements to matched betting: the back and lay bet. A lay bet calculator works out the stake unit for the counter bet. The bettor can be under or over-lay the bet, and the stake determines the potential profit. The best lay bet calculation tool allows matched bettors to create ‘What If’ scenarios and calculate the lay bet in a real example. A lay bet calculator is part of the OddsMonkey trading service.
Bookmakers Bet Calculator
Bookmakers feature a free bet calculation tool on their sports betting website. It is a win and each-way bet calculation feature and incorporates the full range of bets and unusual circumstances. So, here is some information about the bet calculation tool that is available with a number of online bookmakers:
The Ladbrokes calculator appears on the website and is a free version. Hence this tool accommodates win and each-way betting and handles dead heats and Rule 4 Deductions. Users enter the odds and stake and specify the type of bet. Ladbrokes’ bet calculator incorporates single line bets, multiples and system bets. The tool deals with non-runners and the calculation makes an adjustment.
The value of the free calculator for bets is most significant when working out the returns from combination bets. The Lucky 15, 31 and 63 are examples. So, the Ladbrokes bet calculator can handle the full range of horse racing bets. The calculation will return an accurate answer based on the bet details that the user enters in the required fields. The place terms for each-way bets determine the profit from each-way bets.
So, the William Hill calculation tool works out the returns from win and each-way bets, accumulators and system bets. Therefore, users first enter the number of selections. They then enter the following selection details:
- Each-way: Yes or No
- Rule 4: %
- Dead Heat: Yes or No
- Result: Won. Lost, Void, Non-Runner
When the required fields have been populated, users click ‘Calculate’ and the William Hill bet calculator works out and displays the profit and return. Hence, it is the same process for win or each-way bet calculator applications. So, the tool provides accurate calculations for the full range of combination and system bets. However, the William Hill bet calculator takes into account dead heats and Rule 4 Deductions.
Other Bookmakers Bet Calculator
Other bookmakers offer visitors to their site a bet calculator, including bet365, Coral and Betfair. However, there is no need to sign in to an existing account to work out returns from a bet with these examples of the free bet calculator. So, the functions are the same for each bet calculator, but there are variations with the display and process. Hence, any free bet calculator saves time and will perform accurate calculations.
However, there is still a human element to a bet calculator. Hence, the user must enter the bet details accurately. The tool can only deal with the information in the calculation fields. So, the calculation reflects the odds, stake and type of bet. Even the best bet calculator does not recognise if the bet details are wrong. Therefore, the saying ‘Garbage In, Garbage Out’ is apt. So, incorrect information will not be flagged.
Trading Tools and Bet Calculators
Working out bet returns is the standard function of a bet calculation tool. The growth of matched betting creates demand for an accurate and easy-to-use match bet calculator. The back and lay bet calculator are part of a range of trading tools that are available with the following operators:
Betburger is a betting tool that calculates sure bets and provides information about matched bet opportunities. An integral element of the service is a matched bet calculator. This trading tool specifies the require stake at the current odds for the lay bet. The Betburger match bet calculator helps subscribers take advantage of bookmaker free bets. The process is low risk and ensures a decent return with the help of a fully functioning matched bet tool.
The RebelBetting lay bet tool performs the same function. Subscribers use the tool to see the stake for the lay bet, which guarantees the best possible profit. The RebelBetting software scans the odds to identify sure bets. These bets result from variations in odds between bookmakers and bookmakers and betting exchanges. The RebelBetting match bet calculation facility automates the process of matching bets.
OddsMonkey was an innovator in this field. The site continues to offer a comprehensive matched betting service. There are now hundreds of online sportsbooks that offer odds on a wide range of sports and markets. OddsMonkey focuses on sure bets in horse racing and football. The window of opportunity is brief and the market will soon readjust. Some users focus on exploiting no-risk betting.
Speed is of the essence with matched betting. The calculation service scores well in this area. Users may only have a few seconds to place the back and counter lay bets. An effective match bet calculation tool with OddsMonkey maximises the profit from the brief opportunity to place a sure bet. It creates a low-risk betting environment.
The free bet calculation tool is a valuable facility with bookmakers. The matched bet equivalent helps subscribers to trading tool services make money from sure bets.