A bet calculator is a tool which allows Kenyan bettors to calculate the potential payout for their football bets. We will help you to better understand betting terms and your payouts.
Bet calculator enables punters to enter their stake and odds to determine the potential payout for their wagers. Some odds formats can seem more complicated to the players when calculating the payout.
Therefore, a bet calculator is valuable when working out the potential winnings, especially if placing a multi bet or accumulators.
What Are the Types of Betting Odds
When using a betting odds calculator for wagering on football, punters can input several types of odds. In fact, sportsbooks in Kenya offer different types.
Below, you can find out the different types of betting odds for wagering.
Fractional odds come in the form of two numbers with / in-between the odds. These odds represent the ratio of the amount won to the stake. For instance, 2/1 is what this type of bet can look like.
However, it is a bit complicated to determine the potential winnings for this wager. Therefore, betting calculators are helpful when dealing with this particular odds format.
Another odds format bettors can input into a bet calculator is decimal odds. These odds represent the amount a bettor can win for every $1 wagered. It is easier to spot which prices are lower and higher with decimal odds.
Even though this odds format is more straightforward, players can still use a football odds calculator to understand their potential payout better.
The American odds format comes in the form of a number with either a minus or plus symbol preceding it. Favourite teams have a minus, whereas underdogs get a plus.
Moreover, wagerers need to bet the suggested amount for the favourite to get $100. If they want to bet on the underdog, the odds represent the amount they could get by staking $100.
How Odds Are Calculated in Betting?
When it comes to fractional odds, you must divide the left-hand number with the right-hand number. Then, multiply that amount with your stake
In addition, odds in decimal format represent the amount a wagerer can get for every $1 equivalent placed. So, to calculate your potential payout, you must multiply the suggested odds with your stake.
In the case of American odds, if you wish to bet on the underdog, you need to divide the suggested amount by 100 and then multiply that amount with your stake to know what your profit will be. Additionally, to calculate the total payout, you need to add the amount of your stake to the amount of the profit.
On the other hand, if you want to bet on the favourite, you need to divide 100 by the suggested amount and then multiply it with the amount of the stake. In a winning bet, this profit will return to the player with their initial stake.
Bet Calculator FAQs
Now take a look at the answers to some frequently asked questions regarding the bet calculator.
For fractions, the bet calculator first divides the wager amount by the top number. Then, it multiplies it by the bottom number and adds the stake.
With decimal odds, the total payout is calculated by multiplying the suggested amount with the stake.
Lastly, for American odds, players need to divide the odds by 100 and then multiply it with the stake to calculate the profits if they bet on the underdog. For a bet on the favourite, players need to divide 100 with the suggested amount and then multiply with the stake. In both cases, the betting odds calculator will automatically add the stake amount to the total payout amount.
Sports data companies use AI algorithms to predict sports event outcomes. It helps them compose betting solutions later found in sportsbooks. However, these predictions are not guaranteed; therefore, bettors should always consider other factors like injuries or weather.
Supposing there is an odd format with a fraction – divide the numerator by the denominator and multiply it by 100. The chance of the event happening is represented in the percentage. The higher the number, the lower the chance of that particular outcome happening.
The same goes for American and decimal odds. The higher number in decimal odds, the less likely that a particular outcome will materialise. Moreover, in the American odds, the plus sign is always given to the favourites.
It means that two or more goals are required to have a winning bet. However, it can depend if you opt for over or under. In the case of an “under,” the team must score only one goal for you to have a winning bet.