Who can make use of our moneyline calculator comparison?
Our comparison of the best sports betting calculators has been tailor-made to appeal to quite literally anyone with an interest in online betting. From the newly introduced novice gambler to the seasoned high roller who’s looking to make life a little easier – we’ve covered all bases. It doesn’t matter how simple or how complex your betting habits are – we can guarantee to help you find a betting odds calculator that can do the job for you.
For the newbies, we understand that calculating our odds and potential winnings can seem complicated, even when it comes to the simplest of bets. However, what we can offer is a fast and easy way to help you find the best value bets with the best operators. We’ll even let you into a little secret here – even our very own hardened experts of online gambling at PlayersBest aren’t maths whizzes. That is to say, everyone uses, and everyone has the need for a parlay calculator of some description.
At the end of the day, as humans of the 21st century, we’re all after a bit of extra convenience in our lives. What betting calculators offer is a quick and easy solution to help free up your time for what really matters – the thrill of the game!
What exactly is a betting odds calculator?
A betting calculator does exactly what it says on the tin. Our shift into online betting caused an increase in appetite for betting. Out of this came countless new betting avenues, that changed how we bet, and the expanse of the market forever.
This made placing a bet easier than ever before, but also allowed us access to more complex betting options. With the majority of the world, not being Einstine-level mathematicians, we all naturally required tools to make the number crunching easier – and thus betting calculators were born.
In the most basic form, a betting calculator will help you to calculate the most important numerical figure in gambling – your potential winnings! This is done by crossing the odds with the amount that you plan on wagering. If you’re placing a combo bet, an accumulator, or multiple bets at the same time, the betting calculator will add up all the odds and wagers to find the total figure at the mere click of a button.
The different types of betting calculator on offer
What we’ve done above is give you a very brief and simple explanation about the simplest form of the betting calculator. However, as we’ve already alluded to, there are multiple different types of betting calculators out there today. From the basic to the downright complex, there are betting calculators to serve the needs of gamblers of all different experience levels. Below, you can find a more detailed explanation regarding the most popular types of betting calculators available today.
This is the simplest form of betting calculator – just as we described above. All you have to do with such a calculator is enter the odds of your desired bet and the amount that you plan to wager. The calculator will then show your full potential returns – your initial stake plus your total profit.
This type of betting odds calculator is very similar to the above, only with one very significant difference – the number of potential outcomes. With parlay bets, things are more complex as you’re betting on more than one single potential outcome. In order to find your potential payout here, you’ll need to enter the odds for all of the potential outcomes that you’re betting on. For example, if you plan on wagering on three potential outcomes, you would enter the odds for each of them alongside your stake to find your potential payout figure.
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What we’ve now come across is the first type of calculator that isn’t essentially a bet payout calculator. Instead of trying to find your potential winnings, this type of calculator is designed to help you find out if a bet is valuable. In other words, finding out if a bet is actually worthwhile at the end of the day. In order to use this calculator, you need to cross-reference the odds with the implied probability of your bet outcome being realized. This is something that in most cases won’t be displayed by the bookmaker as standard. This means that a little bit of research will have to be undertaken from your side.
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A hedging calculator is designed to help you find out how to best cover or limit your potential losses. Such betting calculators are popular with shrewd bettors who are playing the long game. The simplest and smartest betting strategy is to build up your bankroll over a period of time- as opposed to throwing money at the wall and hoping for a big payday. As we often say here at PlayersBest, sports betting ain’t no lottery – meaning that steps can be taken to increase your chances of winning over time.
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All of the above sports betting calculators have been made to calculate an outcome that directly affects the bettor at your end. What a hold calculator does is go behind enemy lines to help calculate the profits that the bookmaker retains. “The hold” refers to the amount that the bookmaker keeps from every dollar that you wager. This helps to protect the bookmaker’s profits but is naturally bad news for the value of your bets. The hold calculator helps to find bets with a lower hold and higher potential value.
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Tricast bet calculators, and other betting calculators of this ilk, are handy for fans of betting on horse racing. As you may or may not already know, trifectas and other exotic bets are quite complex and can be very difficult to calculate for the average human brain. With a trifecta betting calculator, you can easily input the odds and your wager to help you find the potential returns of these complex bet types at the mere click of a button.
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Spread to moneyline converter
Perhaps not strictly a betting calculator, but it’s definitely part of the same system, a spread to moneyline converter helps your cross the line between two different types of gambling. By inputting the spread on offer, you can then calculate the odds in moneyline form – or the odds format of your choice.
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Editor’s recommendation – the best sports betting calculators
One of the best things about sports betting calculators is that they are now generally made available on the betting sites themselves. To a certain extent, it’s in the sportsbook’s interest to help you calculate your potential returns as quickly as possible. Therefore, as a result, the majority of sportsbooks will at least make a betting odds calculator available to you at the very least – usually as part of the betting slip itself.
But what online sportsbook truly is at the top of the universe when it comes to betting calculators. It’s a tough call, but on balance, our editor would have to say BetMGM. Fronted by the impeccably stylish Jamie Foxx, this online sports betting site is tied to the colossal MGM casino resort brand. As a result, they know how to take care of their customers and make the experience as gambler-friendly as possible. As part of their amazing service, they provide a number of tools to help make odds and returns calculation easy for you. If used correctly and wisely, it’s almost impossible to put a foot wrong with BetMGM.
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Our top tips when using a betting odds calculator
As with tools in all walks of life, tools for bet calculation are designed to make your life easier and free up your time to better use it elsewhere. However, the key to making such tools work for you is learning how to use them correctly. That’s why our trusty experts here at PlayersBest have provided you with our top tips for selecting the right type of betting calculator for the right occasion – and then using them correctly.
Choosing the right calculator
It might seem like the most obvious tip of all, however, it’s naturally the most important. As we’ve already seen above, there are multiple different types of sports betting calculators to suit different occasions. There’s therefore a lot to be said for selecting your calculator wisely. In some cases, it might even be advisable to combine multiple different calculators for the same bet. For example, you may want to calculate your potential winnings for a wager, as well as the actual value and implied probability of the bet outcome being realized.
Make sure you’ve got the numbers right
Again, another tip that may seem blindingly obvious to some, however keeping track of the numbers can be tricky – especially with more complex betting types. It’s therefore always essential to double, and even triple, check you’ve got the numbers right when using any type of betting calculator. Even by just getting one figure wrong when inputting your odds wagering figures, and the end result will be way off.
This is a tip that’s especially important for those of you who are complete newcomers to gambling. Know how the underlying odds actually work is essential before you start using betting calculators. There are three main odds types that are used globally today in [yyy]. Namely, there are moneyline, decimal, and fractional odds. Betting calculation is more complex when using decimal and fractional formats. Fortunately, here in the US we use moneyline odds – which are often referred to as “American odds” in other countries. Moneyline odds were tailor-made for the betting world and can even be easy to read at a glance when using round numbers for your bets.
Progress at your own pace
As we’ve spoken about consistently throughout this article, there are different calculators for different occasions. Additionally, though, some calculators are suited to different experience levels. That’s why it’s important to use a betting calculator that matches your level and the bet you want to place. For example, if you’re completely new to the betting universe, then don’t dive in two-footed and start off with a parlay calculator. Take time to learn the odds and markets before using a straightforward odds calculator to get clued up on your first bet.
At the end of the day, the reason why we all use betting odds calculators is to help forecast our potential profits. If used wisely, betting calculators should help ensure that your bankroll doesn’t drop below what you started with at the very least. As we’ve already said, sports betting isn’t a lottery – with a steady mix of knowledge strategy and calculators, you can plan for the future and increase your chances of building up your bankroll over time.
Finding the right betting odds calculators for you
As we mentioned right back at the start of today, our betting calculator comparison is designed to help bettors of all shapes, sizes, and experience levels. Accordingly, we’re well aware that all gamblers are different and have individual needs and wants. That’s why here at PlayersBest, our principal aim is to go beyond merely telling you about the best calculators and where to find them.
Additionally, we believe that our comparison should act as a guide, that will ultimately lead you to the calculator that’s exactly right for you. For beginners, we also want to take your sporting interests into account, and get an idea of where you want to go on your betting journey. Do you want to slowly make your way from single wager novice to trifecta king? Or are you happy to place one or two small wagers every weekend going forward. For the more experienced gamblers amongst you, we want to help you to find the sports betting calculators required to help you level up.
Sports Betting odds calculators – the conclusion
And so there you have it dear friends, a full-bodied introduction to betting calculators. We’ve covered what they’re used for, why they exist – and most crucially how you can make the best use of them as a gambler. Additionally, we’ve also walked you through the different types of betting calculators that are available in online gambling today.
Now comes the fun part, as you can go on to use our comparison to help find the best calculators that are exactly right for your needs. As we said before, the top betting sites will provide more than one betting calculator for you as part of the service. Check out our top gambling sites today!
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Betting calculators FAQ
👉 What is the best betting calculator?
This is a tough question to answer because there are different betting calculators that are suited to different situations. That is to say, the best calculator for one of your bets, might not be suitable for the next. Yes, we know, that might sound a little frustrating, however, it’s all made clearer in the betting calculator guide right here at PlayersBest.
✅ Are betting calculators reliable?
As with all things in this life, some are, and some aren’t. The trick, naturally, is therefore in finding the best and most reliable betting calculators around in online gambling today. And how can you do that, you ask? The answer to this question is a whole lot more simple – just head on over to PlayersBest today!.
❓ How do I use a betting calculator?
There are different types of betting calculators out there today, and how you use each one is different. Some of them, you will find very straightforward, while others can be a lot more complex. The best thing to do is to start off slowly and progress at the right pace. You can follow the betting guides here to keep yourself up to speed every step of the way.
