How to Use a Betting Calculator to Earn More
If you are new to soccer betting, you may have a little challenge calculating the odds available with different bookies. A betting calculator is a simple and easy to use tool which comes in handy if you want to convert different betting odds. There are three main betting odds; these are decimal odds, Moneyline odds and Fractional odds.
In addition to using the betting calculator to imply the likely probability for odds across these different formats, this tool also works perfectly well in determining the amount of profit a punter stands to make if they use a certain amount to bet.
How to Use a Betting Calculator to Calculate odds
Armed with your calculator, this is an easy process that requires the punter to select either Fractional odds, decimal odds or Moneyline odds by clicking on the tab located on the calculator.
After making a selection, it is now time to enter the odds together with your stake after which you press the calculate button. This will immediately give you the implied probability along with the profit.
How does the calculator work for the Decimal Odds?
Decimal odds have become the most standard format that is offered by bookies. They show you the total amount you will receive if you win the bet.
For example, 3.00 decimal odds indicate that a punter will receive $3 back for every $1 they bet on. This is of course if the game ends in their favor.
Fractional odds have some other names like traditional odds and British odds. Although they are still used around the world, they seem to be diminishing as most bookies now offer decimal odds.
These types of odds show the punter the profit that they stand to receive on their stake if the game ends in their favor. For example, 6/1 in Fractional Odds means that a punter stands to win $6 for every $1 they bet with.
Moneyline odds are also referred to as American odds. They are familiar with bookies in America, and they show either how much a punter will win on a $10 bet if the bet is successful or how much a punter needs to bet to win $10 if the result is negative.
For instance, +50 in Moneyline odds indicate that a punter will take home $50 on a $10 bet, while -50 means that to win $10 on their bet, a punter will need to bet $50.
Under more about betting odds here at Betfame liveodds and if you are looking for reliable betting tips, visit our daily professional predictions here.