A margin calculator is an essential tool for serious bettors who want to know the probabilities and bookmakers’ margins on their bets. If you’re new to the practical uses of this tool we’re here to tell you how it use it, how it works and what are its benefits. This means that you’ll quickly get to see how the bet margin calculator can help you figure out exactly how generous any betting site is with its odds. This makes it ideal for understanding whether you should use that brand or one of our other recommended esports betting sites instead.
Margin Calculator
Margin Calculator
Margin
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How to Use the Calculator
The margin calculator on this page is one of our esports and sports betting resources that offers you a great way to see exactly how much betting margin a bookmaker is imposing on your bets.
Our calculator is designed to be supremely easy to use and here is what you need to do:
- Select your preferred odds format
- Choose between a two-way or three-way betting event
- Enter the odds from your selected bookmaker
- Hit return and the calculator will reveal what the betting margin will be
From here, you can see how much of a margin the bookmaker is applying to the betting event, and you can use this to see whether you should stick at the betting site or try somewhere else.
How Does an Odds Margin Calculator Work?
While our margin calculator will do all of the heavy lifting for you, it’s worth having a deeper understanding of how this calculator actually works.
- The first thing to realise is that the calculator will initially convert the odds into a percentage that describes the implied probability. After all, if you know how to read betting odds, you’ll understand that these odds describe what kinds of returns you could make rather than the probability itself.
- The next thing that the calculator does is to tally up the two or three odds in the event to see exactly how much of a betting margin the bookmaker is adding. From here, you can then compare this betting margin with those featured at other betting sites to see exactly which bookmaker is giving you the greatest value for your bets.
Benefits of a Using a Bet Margin Calculator
When using a bet margin calculator, it will soon become apparent what a useful and simple tool it is. Here are the main advantages:
- ✅ Understand how much margin a bookmaker is adding
- ✅ See whether you should use a different betting site
- ✅ Get more analytical in your betting
- ✅ Discover true value in your esports bets
What is Betting Margin?
A betting margin or ‘vig’ refers to the difference between the odds set by a bookmaker and the true probability of the outcome. Such betting margins are put in place to ensure that a bookmaker can stay in business regardless of the outcome of the event.
Betting margins are best understood as a percentage. So if the bookmaker had odds that suggested that Team Spirit had a 60% chance of winning The International but you felt that the probability was closer to 50%, the 10% difference would be the betting margin. You can check out this guide that discusses the meaning of vig for a more detailed explanation.
Use the EsportsBets Margin Calculator
We’ve shown you how you can use our free margin calculator to figure out exactly which betting sites are giving you the best odds. What’s best is that you don’t even need to know how to calculate the margin between two numbers as our calculator will do all of the hard work for you.
So just fire up our odds margin calculator, see which betting site has the best odds and then put down your bets. Just don’t forget to check out esports betting guides first.
Since: November 27, 2023
