Exchange betting calculator overview
Sports betting exchange calculator is suitable for beginners and experienced users because it helps to make adequate decisions. It takes basic data such as odds, bet and commission and returns information on expected return and net profit.
In order for the software to perform precise arithmetic and return a correct result, the bet type in the sports exchange must be specified – Back or Lay. The former is used to support an event (e.g. Home to win), while the latter opposes expectations (e.g. Home to NOT win).
If you have applied the two calculator functions, you will notice that different calculations appear. In one case you have “Profit” and in the other you have “Return”. We’ll cover the meanings of the terms further below, and you can also read the sportsbook participation guide added to our betting academy.
How to use
The calculator is as simple as possible and contains a few default fields. Before you fill in your numbers, you can use the base ones to see how the calculations are performed and what information they provide.
The first requirement is to specify the type of bet – whether it will be Back or Lay. Next you need to select the type of odds (b.a. – it is decimal to begin with) and fill in values in the three fields – odds, bet, exchange commission. Marking the “Calculate” button causes the final results to appear immediately.
Summarized in steps, the use of the calculator is performed as follows:
- Selecting a Back or Lay bet;
- Specifying the type of odds – fractional, decimal or American;
- Completing the selection bet;
- Entering the amount that is planned for the bet;
- Providing information about the exchange commission (in percentage);
- Clicking on the calculation button.
For more detailed results, you can use the advanced lay bet calculator.
Benefits of using our tool
The main purpose of the calculator is to illustrate the possible scenario of the planned bet. The information is presented in a tabular format and familiarises the bettor with the expected returns and profit against the entered data. The algorithm takes into account the commission of the respective exchange and returns the final profit after deduction of the fee.
While the calculations are relatively simple in the case of back bets, the lay option has some peculiarities. Thanks to the exchange betting calculator, you will find out what bet you should place at the specific odds to fight for the desired profit.
Another advantage of the tool is the reusability. There is no limit to the calculations and no need to constantly reload the page.
The calculator is accessible via mobile devices and adapts to the screen to ensure optimal usability.
Explanations of betting on an exchange
A factor in the growing demand for sports exchanges (like Betfair and Smarkets) is the value of the odds. On these platforms they are higher than in traditional betting operators. In addition, users can act as traders and determine in whose favour to direct bets.
For beginners who are just getting into the betting industry, the process of getting involved seems complicated. But the truth is, you need a few tries to understand the idea of the exchange and get your bearings.
There are two types of bets – FOR and AGAINST. These are coloured differently and are added to all the markets available for that match.
Sports for which we can use the calculator
The calculator on this page applies to all sports bets. It doesn’t matter if you are predicting basketball matches, tennis competitions or other events on the schedule.
Naturally, bettors’ interest is focused on the most popular matches. Championships like NBA, NHL, NFL gather the biggest audience and accumulate more bets in sports exchanges.
Horse racing is also part of the exchanges and available for trading. You can bet FOR and AGAINST markets like winner, forcast and tricast. Use the Exacta bet calculator to find out what combinations are possible when predicting 1st and 2nd place at horse racing.
Rise betting on eSports. Duels of various video games like League of Legends, Starcraft, FIFA, CS:GO are published on the biggest platforms. Bettors on the exchange benefit from top odds for the final winner, cards played, exact score, confirming their bets before the event starts, or in real time.
The use of the calculator saves time and provides answers to vital questions regarding the bet, return, net profit. It can be used to calculate back and lay bets in a sports exchange, regardless of the broker’s commission and the value of the odds.
Careful completion of numbers is required for accurate calculation and delivery of accurate results. With repeated use of the tool, you will become accustomed to it and will not experience the difficulties typical of beginners in sports exchanges.
Frequently asked questions
Once odds, amount and commission are entered on the exchange, the calculator returns information on “Liability” (amount due), return and net profit after deduction of fees.
Yes, the net profit is determined after subtracting the sports exchange commission from the amount won, which can be between 2% and 8%.