The Top 2 Types of Sports Betting Tools to Help You Hedge Your Bets
When it comes to gambling, you must use everything at your disposal that can give you an advantage. Luckily, when it comes to sports betting there are a lot of different tools that you can use to help you make a decision of how and when to place a bet.
These are not tools in the strictest sense of the word. There is nothing that they can manipulate, but they can give you more knowledge to make better decisions. For example, the latest MLB Vegas odds is a great tool but is part of the research you need to do before placing a bet.
This way you are making a bet based on analytics that can make it far less risky than just going with your gut or relying on your own knowledge. In this article, I will go over some of the types of tools you can use to make your sports betting more successful.
1 – Sports Bet Calculator
Knowing how much a bet will pay out is crucial before placing the bet. You want the risk to be worth it otherwise you could be making very little. Winning is not easy and the whole point is to make money. Before making your pick you can use a sports bet calculator to get an instant answer.
There are so many types of odds that it is very difficult to deduce how much the bet pays. For instance, there are decimal odds and fractional odds that can be confusing to work out. Trying to work out how much you get paid when a team is a 1.74 decimal odd favorite or a -140 looks like a lot of math.
The same goes for fractional odds as it is even harder to figure out due to the nature of trying to do math with fractions. A calculator lets you input your bet amount and then the odds in multiple formats so you can instantly see your payout.
2 – Betting bots
Artificial Intelligence, or AI, is so clever these days that it can often be used to do the heavy lifting for many types of calculations and analytics for us. It is commonly used as a robot advisor for investing as it can take the data and make a judgment on which stocks are best to buy. The same concept is used for betting. There is so much data out there that can influence your bets that it is very difficult to do on your own. So many factors go into whether a team wins or loses and keeping track mentally or even on a spreadsheet takes up quite a bit of time.
When you are looking to place multiple bets across different sports, then this is very difficult to do without some help. This is then it is wise to use a betting bot to help you identify the games that are worth putting some money on.
You can even use these bots to hedge bets. For example, suppose that you like a game and want to put money down, but the odds are not in your favor and it is a long shot. There is a good chance you could lose. The bot can then place some bets on safer games so that you are more likely to win those other ones and cover any losses in case your hunch is bad.
