Want to know how to use a sports betting calculator? We can help with that as we’ll show you how you can use a sports bet calculator to calculate betting payouts and much more!
You’ll see what you should be looking for in the many different kinds of gambling calculator that are out there. So that whether you use it for certain sports like football and basketball or use it for certain bet types like spread bets, you’ll be taking the guesswork out of your bets. Take a look below to find out more!
What is a sports betting calculator?
A good sports betting calculator should give you a fast and accurate way to know what kind of profit you’ll get for making a bet. For instance, a
sports betting odds calculator
will spare no time in weighing your probabilities and the size of your winnings on any single bet market out there. Not only will you be able to calculate betting payouts, but you’ll learn what kind of stake you need to put down. As a result, you will quickly be able to know whether you should bother exploring that betting option or pursue other bets instead.
Where can I find a betting line calculator?
You should be able to find betting calculators all over the internet. Many of these will be freely available at third-party sites, while we have seen no shortage of bet calculators available at sportsbook websites. Further down we will also have our own calculators for you.
Most of the betting calculators at these websites should work in a roughly similar manner which is to give you a simple way to calculate your betting payouts. The key thing to remember is that you should never have to pay money to use a betting calculator as this service should always be free of charge.
Why it pays to use a sports betting calculator
Knowledge is power when it comes to sports betting. As such, knowing how much each of the different odds payout is essential for both your short and long-term success. This is especially true if you have some kind of target in terms of what kinds of returns you wish to make from your bets. Obviously, you can go without, but if you have ever asked ‘How much will my bet win?’, Then you’ll want to use a bet calculator.
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What different kinds of gambling calculator are there?
You can find different betting calculators for just about every kind of bet you can think of. Most will go beyond letting you work out payouts for single bets. An
accumulator calculator
, for instance will factor in parlays, multi-bets, accumulators, and so on. Plus you will see calculators that take account of new betting phenomena such as lay betting, hedging, overround, arbitrage, Kelly Criterion and much more. Explore our
Arbitrage calculator
guide for more in-depth information on how to hedge your interest.
How to calculate betting payouts with a calculator
It’s easy to use a bet calculator. Here’s what you need to do:
Set your bet type:
You should get to pick from dozens of different bet types. Most people will simply pick a single bet, but lots of people will use bet calculators to feature exotic bets. This means that you’ll always know where you stand with anything from a Trixie and a Yankee to a Super Heinz to a Goliath. A
Yankee bet calculator
or
Asian handicap calculator
will take all the complications out of making “ fancy ” bets.
Choose your stake:
Here’s where you get to ask “how much will I win if I bet a certain amount?”. Simply type in your unit stake and you might also get to pick whether it’s going to be an each way bet or has more selections such as in a parlay bet.
Enter the odds:
Now you get to type in what odds are on offer from the sports betting sites. You could even enter what odds you are hoping for so that you know whether to keep searching for your desired bets. When it comes to odds, a
betting odds converter
may help you make head or tail of the format presented by the bookmaker. If you are used to decimal odds and are presented with fractional odds, this tool will help you tremendously. In other instances, you might have to use a
spread to moneyline converter
to understand the points spread at a bookie.
Predict the outcome:
Once you have entered the odds, you can then adjust the result towards options like won, lost, placed, no result and so on.
Calculate your bets:
Once you have filled in all of the details, you can simply hit the Calculate Bet button and your potential returns will be displayed. Don’t like what you see? Just alter the odds or stake until you find an amount that looks good.
Using a sports bet calculator for your favorite sport
You may see different calculators that are tailored towards certain kinds of sports. After all, an NFL betting calculator will probably be set up differently compared to a sports bet calculator that’s for use on horse racing bets.
Thankfully, the majority of sports can be used on a standard bet calculator without too much of a problem. The only issue comes up when you want to bet on some kinds of racing sports. This is because sports like horse racing allow you to try bet types like each-ways that you wouldn’t get in the NFL or NBA.
Plus some sports have 1×2 betting markets which indicate a home win, an away win or a draw but you obviously won’t get draws in many sports like tennis and so on. But all good bet calculators will be set up in a way that takes account for the idiosyncrasies of all major sports.
Other kinds of sports betting calculator
Most betting calculators are set up in a pretty standard way that aims to answer simple questions like ‘If I bet $ 100 how much do I win?’. However, we have seen a few calculators like the following that have been created to cater to some alternative approaches to sports betting.
Spread betting calculator:
A good spread bet calculator will let you pick your market, enter your stake and choose whether to back or lay the bet at various odds. From here, you should be able to adjust the quantity in your spread so that you get a good idea as to how much you’ll win or lose. A great way to know how much risk to apply to your spread bets.
Arbitrage betting calculator:
Here you will simply have to enter in the odds and stakes of various bets in a two or three-way market to see whether you could be in line for an arbitrage betting opportunity. This means first entering the odds and stake for the original bet and then entering the odds for the bet that you’re hedging. All of which should reveal the stake that you need to put in along with your total payout and profit. Perfect for those risk-averse sports betting fans.
Odds format calculator:
Most sportsbooks will have their odds displayed in the standard American format. But you might see some betting sites who have their odds displayed in decimal or even fractional odds. Thankfully it’s pretty easy to track down an odds format calculator to see how much you’ll get from your bets.
Betting bonus calculator:
We have also seen some examples of a betting bonus calculator. These have been created in a bid to help sports fans realize how much they’ll win by using the extra betting funds gained from a bonus. To be honest, most regular bet calculators can be used in the same way as betting bonus calculators.
Conclusion – Making the most of a sports betting calculator
By now you’ll see that a sports bet calculator is an essential tool for any true sports betting fan. This is because a good sports betting calculator will help you calculate betting payouts so that you quickly know whether the bet is worthy of your time or not.
The good news is that bet calculators, like
dutching calculator
tools, are freely available and they can be flexibly used to cater to your own tastes. Whether you want to know how much you’ll get from that NBA parlay or just want to see what kind spread you should be aiming for, there truly is no excuse for not using a betting calculator. Now all that you have to do is to make your predictions and let your calculator tell you how much you might win.
Sports Betting Calculator FAQ
❓ How does a free bet calculator work?
Free bets are one of the best things that you can get when you’re betting on sport. This is because they effectively give you extra betting funds that you can use instead of your own money. However, it’s worth noting that you might have to do some calculations when it comes to using such bet credits. Read our guide to using a sports betting calculator to see how it can account for any free bets that you might pick up.
There is little doubt that football is one of the most popular sports in the US, but you might need help in using a gambling calculator for this sport. But be sure to read our guide that tells you how to calculate betting payouts from your football bets. This will make sure that you understand exactly how much risk you’ll be undertaking as well as what kinds of returns you’ll get from your NFL bets.
📱 Who has the best sports betting calculator app?
There is plenty of debate about this question as there are many different kinds of betting calculators out there. After all, some might be focused towards individual sports while others might have been created with certain kinds of bets like spread betting in mind. So read our guide to see which sports betting calculator could be best suited to your own preferred sports bet.
⭐ How do I use a sports betting arbitrage calculator?
Arbitrage betting is a technique used by punters who hope to make money from different sportsbooks from their bets regardless of the outcome of the sporting event. While it is a well-known technique, it’s not easy to put into action. This is why some people will seek out a specialist sports bet calculator that takes account of this kind of bet. Read our guide to see how such a calculator or even a
parlay calculator
could help you make some of the most difficult bets.
🏇 Where can I get a horse bet calculator?
Horse racing is hugely popular but there will be lots of people who want to use a betting calculator so that they can quickly see what kinds of returns they’ll get from their bets. We’ve created a handy
betting guide
that covers all aspects of betting on sports like horse racing, and this includes advice on which kind of sports bet calculator should work best for a big day at the races.
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