When placing a bet online, the bookmaker will make some profit. But, calculating the profit margin, which is the charge of placing a bet on a bookie, is not easy for some punters. However, you can calculate this profit margin using our online profit margin calculator.
How to Use Our Calculator?
Using our calculator to calculate the payout and the bookie’s profit margin is easy. Below are the steps.
- Load the online calculator.
- Next, choose either 2 or 3-way betting options.
- Move on to select the odds format. You can choose between Decimal, US, Fractional, Hong Kong, Indonesian and Malay odds type.
- Lastly, fill in the odds in the boxes of the respective markets.
- The profit margin calculator will show you the payout and percentage margin.
What is a Payout and Margin Calculator?
When you bet, you place some stake on a bookmaker, hoping to get some return if the outcome is correct. The return paid out by the bookmaker is the payout.
Calculating the payout may be difficult for some bettors. Therefore, you could use our payout calculator to know the actual amount you receive depending on the bookie’s profit margin.
Betting at a bookie will attract some charge, known as the margin. To get this margin, bookmakers increase the probability of an event and lower the odds. You could also use the margin converter if you do not know how to calculate this value.