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Bet Calculator - Calculate your betting odds

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Whether you are new

to the world of betting or somewhat of an old hand when it comes to having a flutter

every now and again, you will undoubtedly be aware of the sheer range of options at

bookmakers like Betfair and Paddy Power when it comes to having a bet.

While putting

money on a horse winning a race may sound like a relatively straightforward matter,

there is a wide range of bets available. For example, are you planning to keep it

simple with a single bet on one race? Or, alternatively, are you looking to take a

chance on a larger gamble with an accumulator?

Thankfully, that is where online odds

calculators come into their own. These handy tools can make a huge difference to your

betting activity, providing you with a full overview of the options available and

ultimately helping you to place the bet � or combination of bets � that works best for

you.

In this article, we are going to take a closer look at the concept of odds

calculators, how they tend to work, and the key benefits that they can offer in terms

of boosting your betting balance.

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What is an odds

calculator?

On the most basic level, odds calculators are designed to help you

understand the implications of your bets and ultimately determine what returns you will

receive if you are successful.

Such tools tend to operate in a standard format, with

them first asking you to input the type of bet that you have made or are planning to

make. This could be anything from a single to a Yankee to Super Heinz or an

accumulator. Once you�ve provided this information, you will then be asked to enter the

odds on your bet and also the stake that you�ve placed on it. The calculator may also

ask you to either enter the odds in the decimal or fraction format, but we will touch

upon the key issues related to that further on in this article.

You will then repeat

that process however many times is necessary � for example, if you have placed multiple

bets � and then may also be able to add information related to Dead Heats or any

situation when Rule 4 may have come into play. The latter offers compensation in the

event that a horse withdraws from a race after a bet is placed.

Clear benefits

After

providing full information regarding your range of bets, the odds calculator will then

take care of the hard work by doing the maths and generating an overview of the bets

you have made or are planning to make, as well as the potential returns which will be

available if you are successful.

Choose your each-way terms with the odds calculator �

these vary based on the number of runners and the type of race

As you may have already

realised, such tools offer clear benefits to horse racing fans whether they are

planning for future races or even checking what their final winnings will be after

placing several bets. The ability to input information on a combination of bets is a

particular benefit, as it ensures you do not get a headache while attempting to

consider the potential outcomes of the bets you have made.

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Fractions vs decimals

For a great number of horse racing fans, the use of

fractions is the traditional way of viewing the odds for the runners and riders, but

the use of decimals is something which has grown significantly across recent years,

too. The concept operates on the straightforward notion that you simply multiply a

stake by the decimal shown and the outcome will be your total winnings. For example, if

you place a �1 bet on a horse with odds of 4.00, you will get a return of �4.

While the

use of decimals may seem very simple in that respect, it is worth bearing in mind that

the concept offers up one fundamental difference in comparison to the use of fractional

odds. When it comes to decimal odds, your stake is always factored into the return that

you calculate but this is not the case when following the fraction method. In terms of

the latter, if you put �1 on odds of 4/1 you will receive �4 in profit but also get

your �1 stake back too � so �5 in total. As such, the fraction allows you to work out

your winnings, but you will also need to factor in that your stake will also be

returned to you as well.

A better understanding

It goes without saying that a huge

number of people across the globe love betting on horse racing with bookmakers like

Betfair and Paddy Power, whether they are attending race meetings in person, following

the action on TV, or online via streaming services. You can get free Timeform tips for

every British and Irish horse race and free Infogol tips on Europe's biggest football

leagues. However, it is also true that some can find it a complicated world to navigate

around and they often want a bit of a helping hand to get started.

Whatever your level

of experience, taking some time to gain a better understanding of how the different

formats for odds work can be an important step towards making informed decisions on

your betting. Furthermore, the use of odds calculators can help you fully understand

how specific combinations of bets could put you on the path towards winning big and

also ensure you are fully aware of the winnings that you are due.

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