Horse racing gambling is exceptionally popular across the world, with millions of dollars wagered on some of the biggest races on the calendar. Some of the biggest events on the schedule include the U.S. Triple Crown races, which are rounded off annually with the staging of the Belmont Stakes.
However, working out the odds can often be complex for newcomers to the sport, meaning that there is typically a need for various tools to make this process much easier.
One of the most popular features that can be found on some of the leading sportsbooks is the betting calculator. You can learn all about what this is, and how it works right here.
Reading Betting Odds
Before going into depth about the betting calculator, it is first important to understand how to read odds. Odds can be formatted in one of three different ways- decimal, fractional, and American. The biggest difference between the three is that the decimal layout takes into account the stake that is wagered, while the American and Fractional formats do not.
For example, in a decimal layout, 3.00 will be shown as 2/1 and +200 in fractional and American formats, respectively. The odd format that you wager on has no impact on the returns that you stand to collect, but it makes it more straightforward to understand the returns that you could win if you wager on the format that you understand best.
You also need to understand some popular betting strategies. Read more about it here: twinspires.com/edge/mucciolo-s-top-5-betting-strategies-for-2024/
What Is A Betting Calculator?
A horse racing betting calculator is very straightforward for all users to understand, as it will work out the potential returns from your selections. This is mostly used by gamblers that are looking to work out their potential returns on a multiple selection, and it enables the user to put in their selections, as well as the odds that have been taken, before the stake that you have wagered will then work out the profit should your selections win.
A number of factors can also be taken into account by using this tool, which includes any potential deductions for non-runners, and the returns from your selections should you have made each-way selections. It saves the gambler trouble trying to work out the returns from their selections, making it easier to work out the number of winners that must be achieved to gain profit on their bet.
Benefits Of The Calculator
There are countless benefits that come with using a bet calculator, namely the fact that it allows bettors to work out their potential profit from their selections within seconds. Using the calculator correctly is essential in ensuring that you make no errors, and thus ensuring that you don’t get the amount that you stand to win incorrect.
The fact that bet calculators are used by millions of gamblers from across the world is an indicator as to how many positives there are when it comes to using it. It is used by both newcomers to betting as well as experienced gamblers, and saves a lot of time when it comes to working out the returns from your wager, meaning that you can spend extra time working out which way a horse race may go.
How To Use The Calculator?
After making your selections on the horse racing action, you can begin to use the calculator to work out your potential returns. Gamblers can select the type of bet that they have made before entering odds, with the leading sportsbooks offering calculators for wagers made on markets such as accas, trixies, Yankees and Lucky 15s.
At the beginning of the process, you will include the stake that you have wagered on the bet, before selecting whether it is an each way pick and whether there have been any deductions. After this, you will include the odds for all of your runners, before the calculator can work out the returns from the bet should all selections claim success.
For Lucky 15 bets, you can also work out seamlessly how many winners from your four selections will need to win in order to claim profit from your wager. Many of the leading calculators will work within seconds, with users not needing to click another button after inserting their odds with the calculator working instantly based on the prices that you have included.
Should I Use A Bet Calculator?
All bettors should use a calculator to work out their potential returns from their selections, as it is the full-proof way to ensuring that you stand to win profit when making selections on the horse racing action.
However, the feature doesn’t just appeal to newcomers that are making their selections on the sport, as it is also an interesting tool for experienced bettors that want to ensure that they don’t make any errors when working out their profit margins.
