BetMachine helps you manage your bets by performing some of the more tedious calculations for you. It features:
- Odds converter
- Returns calculator
- Dutching calculator
- Detailed help section
Please visit the support URL before purchasing BetMachine. This contains more detailed information that will assist you in making an informed purchasing decision. We don't want to sell you something that doesn't meet your requirements. If you have any questions or suggestions, feel free to send us an email (details on the support page).
The odds converter converts between the following types of odds:
- Decimal (eg, 3, 4.25, 7.635)
- Fractional (eg, 10/11, 7/4, 11/1)
- Moneyline, or American (eg, +200, -150, +482)
BetMachine converts to "standard" fractional odds used by (UK) bookmakers - for example, decimal odds of 2.5 will be rendered as 6/4, rather than 3/2. When decimal or moneyline odds are not an exact match for any standard fractional odds the nearest standard fractional odds will be displayed.
The returns calculator works out how much your bookmaker (with any luck) owes you. Its emphasis is on accumulator bets and it's based on UK settling rules.
Based on your unit stake, and whether the bet is win-only or each-way, a report is generated for:
- Full cover (with and without singles)
The selections within the bet(s) can be defined in terms of:
- Place terms (eg, 1/4)
- Rule 4 deduction, in pence/percentage (e.g. 10)
- Number of selections that tied for the win/place
Dutching (named after New York gangster "Dutch" Schultz) involves mitigating the risk of losing by backing more than one selection in a race or event.
The process involves calculating the stake to be placed on each selection, given the odds, so that the same amount of money is returned regardless of which selection wins — assuming that one of them does actually win!
BetMachine can calculate the individual selection stakes based on:
- total available stake; or
- desired profit.
The help section contains information on all three main areas of functionality - ie, odds converter, returns calculator and Dutching calculator.