Using Betting Calculators

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One thing that sets professionals apart from amateurs is their mastery of the tools of the trade. In the case of horse racing and sports betting in general, a piece of paper and a pencil may be the only implements needed to figure out the gross return and net profit expected on a simple straightforward wager to win. Just by knowing the odds are 2.5, it is easy to calculate in one’s head how much can be won if successful on bets of £2, £5 or £10—namely £3, £7.50 or £15, respectively.

But when the math gets more involved, a specialised betting calculator can certainly come in handy, and there is one available for every sort of wager that can be imagined. Take, for example, the single bet described above. A betting calculator can be useful to see the effect of changing odds, to 2.4 or 2.6, for example. It can also help keep track of up to 20 single bets at once.

And when it comes to combination bets, a betting calculator is indispensible. Dedicated calculators exist for doubles, trebles and accumulators. To work out the winnings of a treble, for instance, all that needed is to enter the odds of all three selections as well as each way options. Once all fields have been filled in, the returns, profit and stake will appear in the summary section, showing how much stands to be made. Some treble bet calculators also allow permutations of treble bets to be worked out, such as trebles from four selections or trebles from five.

One very useful tool for determining how much to wager is the “dutching” calculator. It can be used to structure a number two or more bets in such a way that a predictable profit is earned no matter which bet is ultimately the correct one.

Much more complex combination bets, including such full coverage wagers as the Trixie, Patent or Yankee, would be very difficult to set up indeed without the use of a betting calculator. Dedicated calculators are available online not only for those particular bets but also for a broad range of even more exotic ones, including the Alphabet, Flag, Goliath, Heinz, Lucky 15, Super Yankee and more.

Some web sites now offer “all-in-one” betting calculators that can be used to structure a variety of wagers. In addition to stake size, each way options, variable selections from 1 to 20 independent outcomes, and a choice of odds formats—American, Decimal or Fractional—they also allow calculations involving such situations as Dead Heat, Void/No Runner and Rule 4 regarding withdrawals.

By manipulating the variables, it is possible to see quickly on a betting calculator what the effects are of various scenarios. This can be extremely useful in comparing different types of bets as well as in deciding what outcomes to back. The tools only become more useful with practice, too.

Most bookmaking web sites provide links to the betting calculators that they prefer and recommend. It pays, however, to search around a bit and compare tools. Some will provide the ability to input only the total stake, while others require entry of stake per bet and some have toggles for switching back and forth between the two modes. Display formats can vary widely, too, and it’s advisable to find one that is not only easy to use but also easy to read.

Apart from the betting calculators readily available on web pages, there are now apps for the iPhone and Android as well as other mobile devices, too. They make it easy to take one’s tools directly to the track or betting shop. Note that some of these applications accept only fractional odds, while other support decimal formats. Again, shopping around is highly recommended.

Published on: 02/07/2013

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