How to Use a Betting Exchange Calculator
Exchange betting works differently from normal betting, because bettors place bets against other bettors in a betting exchange platform using opposing back and lay bets. To make sure they get the right stake and avoid losing a lot of money, bettors use calculators. These tools help them reduce risk, lock in profits and decide better on their bets. Knowing how to use an betting exchange calculator and the different types can be very valuable in the betting process.
Choosing the Right Betting Exchange Calculator
There are different types of calculators for exchange betting. Some of the most common ones are:
Basic Betting Exchange Calculator that helps bettors calculate back and lay bets.
Lay Liability Calculator that shows how much money a bettor needs in their account in order to place a lay bet. The liability shows how much money a bettor risks to lose if the lay bet loses.
- Matched Betting Calculator that helps bettors use free bets to make a profit, without taking any risk.
- Arbitrage Calculator that helps bettors find differences in odds and make a guaranteed profit by betting on these different odds.
- Dutching Calculator that helps bettors spread a bet across many selections in order to reduce risk.
Beginner bettors should start with a basic calculator and when they know a lot about the various betting strategies and feel comfortable to apply them to go on to the more advanced calculators depending on the strategy they want to try.
Entering the details of the bet
When they open the calculator, bettors need to enter some details about the bet.
For back bets, where bettors bet on something to happen, they need to enter the back odds that show the price they will get for betting for an outcome.
For lay bets, where bettors bet that something will not happen, they need to enter the lay odds that show the price they get for betting against an outcome.
Bettors also need to enter the stake that is the amount of money they want to bet.
It is very important to always enter the commission that is a small percentage charged by the exchange platform on all winning bets.
When all the bet details are entered, the calculator will show the potential profit for a back bet and the potential liability for a lay bet. It will also show the correct lay stake to place on the exchange in order to avoid mistakes and balance the bets.
Understanding the Results
As soon as a bettor enters the bet details, the betting exchange calculator will give them the results. It is important to know what these results show.
- The lay stake shows the amount of money a bettor needs to place as a lay bet.
- The liability shows the amount of money a bettor could lose if their lay bet does not win.
- The Profit/Loss shows how much a bettor can win or lose depending on the result.
Knowing what the numbers of the result mean helps bettors decide if the bet is a good idea or if they need to adjust their stakes.
Placing the Bets on a Betting Exchange
When bettors have the correct numbers from the calculator, they can place their bets on the exchange platform.
For back bets they need to go to the exchange and select a sport, an event and a market and pick a team, player, a horse etc they believe will win.
For lay bets, they need to go to the exchange platform, select a sport, an event and a market and choose the same team, player, horse etc and bet that they will not win.
They always need to make sure they check the liability in order to see if their funds in their account are enough to cover the lay bet.
If the back and lay bet are placed correctly, they should balance each other. This means bettors can reduce risk and guarantee a profit.
In Short
A betting exchange calculator is a very useful tool for all bettors, especially those using advanced strategies like arbitrage, ditching and more. These calculators helps bettors place well calculated bets, avoid unnecessary losses and win a profit in some cases. Bettors who are just starting and bettors using advanced strategies can place their bets easily with these tools.