Bet Calculator - Calculate your betting odds
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Whether you are new
to the world of betting or somewhat of an old hand when it 👍 comes to having a flutter
every now and again, you will undoubtedly be aware of the sheer range of options 👍 at
bookmakers like Betfair and Paddy Power when it comes to having a bet.
While putting
money on a horse winning 👍 a race may sound like a relatively straightforward matter,
there is a wide range of bets available. For example, are 👍 you planning to keep it
simple with a single bet on one race? Or, alternatively, are you looking to take 👍 a
chance on a larger gamble with an accumulator?
Thankfully, that is where online odds
calculators come into their own. These 👍 handy tools can make a huge difference to your
betting activity, providing you with a full overview of the options 👍 available and
ultimately helping you to place the bet – or combination of bets – that works best for
you.
In 👍 this article, we are going to take a closer look at the concept of odds
calculators, how they tend to 👍 work, and the key benefits that they can offer in terms
of boosting your betting balance.
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What is an odds
calculator?
On the most basic level, odds calculators are designed to help you
understand the 👍 implications of your bets and ultimately determine what returns you will
receive if you are successful.
Such tools tend to operate 👍 in a standard format, with
them first asking you to input the type of bet that you have made or 👍 are planning to
make. This could be anything from a single to a Yankee to Super Heinz or an
accumulator. 👍 Once you’ve provided this information, you will then be asked to enter the
odds on your bet and also the 👍 stake that you’ve placed on it. The calculator may also
ask you to either enter the odds in the decimal 👍 or fraction format, but we will touch
upon the key issues related to that further on in this article.
You will 👍 then repeat
that process however many times is necessary – for example, if you have placed multiple
bets – and 👍 then may also be able to add information related to Dead Heats or any
situation when Rule 4 may have 👍 come into play. The latter offers compensation in the
event that a horse withdraws from a race after a bet 👍 is placed.
Clear benefits
After
providing full information regarding your range of bets, the odds calculator will then
take care of the 👍 hard work by doing the maths and generating an overview of the bets
you have made or are planning to 👍 make, as well as the potential returns which will be
available if you are successful.
Choose your each-way terms with the 👍 odds calculator –
these vary based on the number of runners and the type of race
As you may have already
👍 realised, such tools offer clear benefits to horse racing fans whether they are
planning for future races or even checking 👍 what their final winnings will be after
placing several bets. The ability to input information on a combination of bets 👍 is a
particular benefit, as it ensures you do not get a headache while attempting to
consider the potential outcomes 👍 of the bets you have made.
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Fractions vs decimals
For a great number of horse 👍 racing fans, the use of
fractions is the traditional way of viewing the odds for the runners and riders, but
👍 the use of decimals is something which has grown significantly across recent years,
too. The concept operates on the straightforward 👍 notion that you simply multiply a
stake by the decimal shown and the outcome will be your total winnings. For 👍 example, if
you place a £1 bet on a horse with odds of 4.00, you will get a return of 👍 £4.
While the
use of decimals may seem very simple in that respect, it is worth bearing in mind that
the 👍 concept offers up one fundamental difference in comparison to the use of fractional
odds. When it comes to decimal odds, 👍 your stake is always factored into the return that
you calculate but this is not the case when following the 👍 fraction method. In terms of
the latter, if you put £1 on odds of 4/1 you will receive £4 in 👍 profit but also get
your £1 stake back too – so £5 in total. As such, the fraction allows you 👍 to work out
your winnings, but you will also need to factor in that your stake will also be
returned 👍 to you as well.
A better understanding
It goes without saying that a huge
number of people across the globe love betting 👍 on horse racing with bookmakers like
Betfair and Paddy Power, whether they are attending race meetings in person, following
the 👍 action on TV, or online via streaming services. You can get free Timeform tips for
every British and Irish horse 👍 race and free Infogol tips on Europe's biggest football
leagues. However, it is also true that some can find it 👍 a complicated world to navigate
around and they often want a bit of a helping hand to get started.
Whatever your 👍 level
of experience, taking some time to gain a better understanding of how the different
formats for odds work can 👍 be an important step towards making informed decisions on
your betting. Furthermore, the use of odds calculators can help you 👍 fully understand
how specific combinations of bets could put you on the path towards winning big and
also ensure you 👍 are fully aware of the winnings that you are due.
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