The home of intelligent horse racing discussion
The home of intelligent horse racing discussion

Different types of sports betting tools and calculators

Sports betting is complex. Some people dedicate their lives to making a profit on sports. Nobody simply chooses their favourite bookie and places a bet. Every wager must be placed with extreme care to get the most out of their money.

With so many types of sports betting tools and calculators, it can be difficult to determine which ones will be of most use to you.

Let’s jump into the different types of sports betting tools and calculators.


Five benefits of using sports betting tools and calculators

It’s important to know where you stand when it comes to your bets. Placing the wrong bet at the wrong time could spell disaster. The most profitable gamblers use a selection of calculators and other tools to support their decision making.

Here are some of the reasons why you should use third-party tools to improve your gambling experience:

  • Place bets faster – Some tools are aimed at making the wagering process more efficient. With the minutes and seconds ticking down before the beginning of a major event, being able to place bets faster is a big benefit.
  • Make informed decisions – Calculators can help you to do the math quickly and make an informed decision on what the best move is.
  • Find the best deals – Promotions are a big part of online gambling and using tools to find the best deals can help you discover which bookie you should make your next wager with.
  • Arbitrage – Sometimes, the bookies mess up and leave opportunities for gamblers to get an odds steal. Known as arbitrage, tools exist to help you find those gaps.
  • Odds comparison – Comparing odds is essential to extracting the most value from your wagers. Third-party tools empower you to compare odds across all the major bookies in seconds.

As you can see, using the right tools can take your gambling skills to the next level. What’s more, many of the most common tools are available completely free of charge.


Sports betting calculators

A horse racing calculator can help you to figure out your projected winnings, place accumulators and convert odds. Every online bookie has a sports betting calculator integrated into their betting slips, but these are often basic in form and don’t provide all the added features to get the most out of them.

Several types of calculators exist, including:

  • Odds calculator – The most basic calculator of them all. This helps you figure out your expected returns from a proposed wager.
  • Accumulator calculator – Add multiple legs to an accumulator. Chop and change different wagers to see how it impacts your overall return.
  • Odds conversion calculator – Are you struggling with American, decimal and fractional odds? Use an odds conversion calculator to convert odds into a format you’re comfortable with.

You’re definitely not required to use a calculator when betting on your favourite sports, but they do allow you to place bets faster and more efficiently.


Odds checkers

Sports betting platforms have much in common regarding the markets they serve. You can bet that any major sport will have the same markets on any major online betting site.

Odds checkers work in real-time to instantly compare odds from across sites. These are useful for futures markets, but they’re also handy for individual events.

Regular bettors usually have accounts with several sites, and odds checkers can tell them where it’s most profitable to place those bets. It’s also useful to read through sports and racing articles for more insight into the odds.


Promotions platforms

To differentiate themselves from the competition, bookies have had to invest a lot into their promotions and discounts. In the past, promotions were reserved for special events or new customers. Today, they’re available to everyone.

Some bookies have even extended their online casino loyalty clubs to the sports betting arena to get a leg up on the competition.

Take advantage of all the best offers by looking for a dedicated promotions platform. These sites are designed to track all the current promotions available. Browse quickly and find out where those juicy deals are.


Handicapper records

Some people like to use professionals to inform their strategies. Every newspaper and every sports betting site has an expert that provides advice on who to bet on. Of course, some of them are better than others. How do you know who to believe?

Many tools allow you to compare the records of the professionals, so that you know who’s legitimate and who you should be taking seriously.

For example, if you’ve looked up the Grand National weights guide and one handicapper is saying something that goes against conventional logic, do you really want to be listening to them?



Integrating tools into your betting strategy can make your life easier and increase your profitability. Learning how to use these tools intelligently is how you take the next step to become a better gambler.

Which tools do you use to increase your chances of backing a winner?