Sports betting can be tricky because of all the different sports and betting options. A useful tool that can save you time is a sports betting calculator. It can take away some of the uncertainties of betting and provide a way to determine your potential returns.
What is a sports betting calculator?
A sports betting calculator is a piece of software that helps you figure out what you can win from each bet you place. This can inform your decisions about how much to bet when you’re doing online sports betting at a casino. There are many web-based tools you can choose from to get the information you need. Once you know the common terms and functions of sports betting calculators, you will find them easy to use.
Choose your type of bet
The first piece of information you need to provide is the type of bet you want to make. If you want to select and back a winner in a chosen event, this is called a ‘win bet.’
If you want to place many win bets across different events, this is called a ‘multiple bet.’ You can place single, double, or triple ‘win bets’ across many events and increase what you win if your predictions are correct.
If you place bets on four or more events, it is known as an accumulator, also called ‘accy’. Bets like this are very popular with footballers.
Once you have a grasp of the basics, you may want to try out a ‘full cover bet.’ With this type of bet, you can receive a payout even if all your predictions aren’t correct. Full-cover bets have different names, depending on the bets you combine. For example, if you place six double bets, four treble bets, and a fourfold accumulator bet, this is known as a ‘Yankee.’ Only two of your predictions need to be correct for you to win. The more accurate you are with your predictions, the more you stand to win.
Input your odds
How you input odds will depend on the betting calculator you use. Odds aren’t always in the same format. You may have to use the American moneyline format (+200) or input your odds as a decimal or a fraction. It helps to be good at math if you want to convert odds into your preferred format.
- If you want to convert moneyline odds into decimal odds, you will divide the figure by 100 and add 1. For moneyline odds of +200, the sum will be (200/100) + 1 = 3.
- If you want to convert a fraction into a decimal, divide the first figure by the second, and add 1. The sum will be (5/1) +1 = 6.
- If you want to convert decimals into fractions, you will subtract one from the figure and find the nearest whole integer. So, 6 will become 5/1.
Fortunately, you can make conversion easy by using online conversion tools to do the sums for you.
Comprehensive betting calculators
Simple betting calculators are all you need to use for simple bets. However, there are times you may find they don’t offer the options you want. If you want to place multiple bets, full-cover bets, and accumulators, you will need a more comprehensive calculator. When you input your bets and odds, you can find out the outlay, returns, and profit by simply clicking a button.
