If you like sports betting, you can also check a very useful tool called a bet calculator. Additionally, we talk about what this tool is, how it works, and what are some of its types.
Bet Calculator Explained
The name behind this tool is pretty selfexplanatory. Its purpose is to facilitate the calculation of your potential winnings. In other words, you need to check your bet slip and enter details related to it in the required fields of a calculatorβs interface.
Data that you usually need to enter mostly refers to odds, bet types, event outcomes, and your stake amount. According to the bet type, you can come across various different calculator versions, most of which we discuss below.
Types of Bet Calculators
As mentioned, you can read about the bet calculator types, which you can use to figure out your hypothetical winnings in the following sections.
Accumulator Calculator
Accumulator Calculator
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As there are accumulator bets, there is, of course, an accumulator calculator, too. First of all, accumulator bets imply multiple selections (four or more) on a single bet slip.
So, you can use an accumulator calculator to calculate potential winnings by providing the odds of all your selections, results, as well as your stake.
Odds Calculator
Odds/Probability Calculator
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This type of calculator is there to let you know about your potential payout and returns after you provide sports odds and your stake amount. Usually, you can choose between decimal odds, fractional odds, and American odds formats.
What a betting odds calculator also does is that it presents you with the odds value in the remaining formats, once you enter the odds value in only one format.
For example, if you enter the decimal odds of 1.50, the betting odds calculator will show you the same odds value in the fractional odds (1/2) and American (200) odds format.
Yankee Calculator
Yankee Calculator
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Another calculator version that you may find very useful is called a Yankee bet calculator. In general, Yankee bets are placed on sporting events such as horse racing and football. A Yankee bet suggests that there are four different selections with 11 bets.
More specifically, you need to have six double bets, four treble bets, and one fourfold accumulator bet. To use this calculator, you will need to provide information about all four selections, including odds, outcomes, and the sum of your stake.
Also, when calculating your returns from horse racing bets, you will have to set the calculator to either include or exclude βrule 4β, which is about the reduction of potential winnings under certain circumstances.
Patent Bet Calculator
Patent Calculator
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The tool, also known as a patent bet calculator, lets you find out your return after placing a patent bet. These bets are the ones that have no less than three different selections, as well as seven bets.
Bets consist of three singles, three doubles, and one treble. As with any calculator, you have to fill in the odds, results, and the stake amount to see your potential winnings.
Trixie Calculator
Trixie Calculator
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A calculator that tells you how much you will win after creating a bet slip with three different selections is titled a Trixie calculator. Moreover, a Trixie bet involves three different selections with four bets.
Still, you are not allowed to bet on multiple outcomes of the same sports event.
Also, you cannot bet on more than one sport on a single bet slip.
Just as before, you must type in all the information that is necessary for calculating Trixie bets. These are odds, event outcomes, and your stake amount.
System Bets Calculator
System Bets Calculator
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In the event that you have three to eight different selections on your bet slip, your bet will qualify as a system bet. The number of system bets can vary according to the number of projected outcomes.
Having more than one selection and various predicted outcomes don’t mean that all of them must result in a win in order for you to make a profit.
This is why the range of your possible winnings can be wide. Obviously, you can use a system bets calculator to get to know the amount that you can win.