Giving a boost to your successes in sports betting is possible by using one special trick. Learn how to use odds calculator and see whether the wager is worth your attention or not as well as how much you should bet to save money.
What else can make the life of sports fans easier than the odds calculator? This useful online assistant is essential for punters who often bet on sports and other events. Learn how to use odds calculator and don’t forget to use it while betting at online sportsbooks in Australia.
Definition of the odds calculator explained
If you have never heard about the odds calculator, we are here to help you. This smart assistant is your right hand during your betting session. Having given the betting odds and odds calculator, you will be able to calculate the percentage probability of winning or losing your stake. Thus, you can decide whether the reward is worth the risk you take or not.
In other words, if you doubt whether the odds of 1 to 5 on a team to win can bring you money, the calculator will help you to evaluate all chances of winning and losing. Another useful function of the assistant is learning out how to calculate the odds ratio using the odds equation.
As you can see, the odds calculator is a very useful tool to try while betting at online gambling sites in Australia. Let’s see how it works.
How to use odds calculator while betting?
Before learning how to use odds calculator during betting sessions, here is a brief explanation of odds. Most odds are presented as a ratio (e.g. 1 to 10 on Barcelona to win La Liga) and they are of winning and losing type. For odds of winning, the first number is the chances for success, and the second is the possibility to lose. So, having 1 to 10 odds means that there is one chance for the club to win and ten chances to lose.
Here comes the odds calculator. The helper is used to predict the possibility of winning or losing even more exactly – by percent. Let’s say, Barcelona is likely to win 5 games out of 6 with the corresponding odds on this outcome, To know the percentage probability of the club to win, convert fraction odds to percent and get 83.33% of winning possibility and 16.67% of losing chances. You can make a conversation at many side sites like Omni Calculator or do it directly at sportsbooks like 1xBET.
Step-by-step guide on how to calculate odds
If the process of possibility calculation is still a mystery for you, here are the most detailed instructions on how to use odds calculator:
- Check the odds to calculate. Let’s take our previous example with Barcelona and its 5 to 6 chances to win La Liga;
- Here we have 5 chances to win and 6 to lose. Sum them up and get 11 (5+6=11);
- Calculate the possibility of winning/losing according to the odds formula: 5/11= 45.45% to win, and 6/11= 54.54% to lose.
Try your first odds calculation at 1xBET Sportsbook as you can choose one of the numerous events to bet on immediately after learning the result.