Betting calculators help to remove the guesswork from sports wagering. First-time punters and seasoned bettors use them to support their wagering activities.
Instead of estimating returns or manually calculating potential winnings plus bonus offers, betting calculators handle the instant calculations to help you make better decisions.
These tools have become a regular in modern sports betting, but not many people actually understand their role in the ecosystem. Read on as we take a closer look.
How to Use a Betting Calculator
Using a betting calculator is not complex. Just choose the type of wager you want to place. It could be a single bet, an accumulator or one of the many system bets available at major sportsbooks.
Enter your preferred odds format before keying in your stake. Add the odds for each selection and the betting calculator works out your profits and returns.
Accumulator bets will need additional selections with the calculator then updating the potential pay-out after every leg, allowing bettors to toggle different combinations before choosing a wager.
Many top calculators also support advanced betting, such as each-way bets, Rule 4 deductions in horse racing and dead heats.
Understanding Different Bet Types
The biggest advantage of betting calculators is that they can handle complex wagers that would be nigh-impossible to calculate manually. The most popular types are:
- Single: One selection that must win.
- Double: Two selections, both of which must win.
- Treble: Three winning selections required.
- Accumulator: Multiple selections combined into one bet, with every selection needing to win.
Many calculators also support system bets such as Yankees, Lucky 15s, Heinz bets and Goliaths.
Without a calculator, estimating your returns can be confusing, especially when betting multiple stakes and combinations.
Using Free Bet Mode
The free bet mode is one of the most notable features on betting calculators. This calculates the real cash value of promotional bets.
Unlike normal wagers, free bets will not return the original stake if a player wins. Only the profit is paid out, diminishing their actual value compared to cash.
A free bet calculator maximises this value using a matched betting strategy. You’ll only need to enter:
- The value of your free bet.
- The decimal odds of your chosen selection.
- The hedge odds on the opposite outcome.
A calculator will now work out exactly how much to stake on the opposing selection to guarantee the same profit no matter the result.
For example, if you have a $50 free bet and use it on odds of 3.00 while hedging the opposite outcome at odds of 2.00, the calculator helps you know how much you need to lock in for a guaranteed return.
A calculator such as BettingTop10’s free bet and bonus calculator tool gives you many useful metrics such as the required hedge stake, your guaranteed profit and your conversion rate, which shows how much of the free bet’s face value becomes real cash.
Decimal odds above 3.00 tend to have stronger conversion rates, giving bettors more value from promotional offers.
Using Deposit Bonus Mode
Deposit bonuses are different from free bets. Instead of an amount to bet with, players receive bonus funds that come with wagering or rollover requirements before they can be withdrawn.
A deposit bonus calculator helps to determine whether these offers are worth your time. Users only have to insert:
- The bonus amount received.
- The rollover requirement.
- The odds they intend to bet at while completing the wagering requirement.
The calculator will then estimate:
- The total amount that must be wagered.
- The expected value of the bonus after accounting for the bookmaker’s margin.
- Whether the promotion represents good value overall.
For example, a $100 bonus with a 5x rollover requires $500 in qualifying bets for the funds to become withdrawable.
The calculator estimates the expected value after wagering, helping players to decide whether accepting the promotion offer makes financial sense.
