Another great reason for using the calculator is because it allows you to monitor your bank balance, and come up with an estimate as to how things could change depending on whether a bet wins or loses. Again, this is incredibly useful for lay betting. Another scenario where the calculator can be handy is if you are planning on making parlay bets, which, as a reminder, are bets that contain multiple legs in one long bet slip. Prior to making such a bet, you can use the calculator to get an exact number regarding what the potential payout could be, and this can help you to determine the risks and what kind of stake you should be looking to place.
Bets are calculated by the probability of something happening. For example, if the bet is priced at 4-1, then it is calculated as 1 / (4+1) = 0.2 which means there is a 20% chance of the outcome happening. The bet return is calculated by multiplying the stake by the odds. A single bet can usually be worked out easily, but when working out a multiple it is advisable to use a bet calculator.
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