While it's easy to chalk up success in sports betting to chance, anyone who takes gambling seriously - whether it's football or horse racing bets - knows there's a real method to achieving it.
The majority of casual bettors tend to stop after their free bets expire, but for those who have genuine ambitions of making good money while betting, it's vital to have a few different tools to help you out along the way.
You've got a range of different options here, but one of the most effective ones is the forecast bet calculator (not to be confused with a free bet calculator). With a betting calculator, you're naturally able to make far more informed decisions than if you were to simply leave it up to chance, so here at Unibet, we've created a guide to give you an introduction to this tool.
What is a Forecast Bet?
Let's start by breaking down what forecast bet types actually are. In essence, they're a fairly advanced form of betting where you're ultimately trying to predict the exact order that the top two selections in a particular event will finish - most commonly used in horse race betting.
If you're a bit perplexed as to how you could ever predict such a thing, you certainly wouldn't be alone. Generally speaking, that's the whole reason bet calculators exist: to make sense of this process.
How Does It Work?
Since this kind of bet type is generally considered pretty complicated, we'll be breaking down exactly how to use the Unibet forecast bet calculator to your advantage in this next section:
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Select the Type of Bet
First things first, simply choose 'forecast' as your bet type. Though there's a vast selection of bet types you can choose for horse race betting on Unibet, we're not interested in a single bet or each-way bet here, so make sure you choose the right option before proceeding.
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Horse Selection
So, when you start using the odds calculator, kick things off by selecting which two horses you think could probably finish first and second in the race. Also, remember that this doesn't have to be in any particular order - just the two that you think stand a pretty strong chance of being the top contenders.
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Odds Input
No matter which bookies you go to, every horse in a race is given specific odds that generally reflect how likely each of them is to actually win the race. Naturally, the lower the odds are for any given horse, the higher their chances of success are.
Get familiar with the odds format you're using, too, because they can be shown in a few different formats, whether it's fractions (e.g. 2/1) or decimals (e.g. 3.00).
After this, you'll need to enter whatever the odds are for each of the horses you've chosen into the Unibet calculator, so it has an idea of how likely they are to finish in the top two.
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Bet Amount
At this point, you'll have to decide how much money you want to bet on your forecast, which, of course, is entirely up to you and how comfortable you are with horse race betting.
Keep in mind, too, that the potential payout will depend on both the odds and the total amount of money you're staking - larger bets lead to bigger payouts if your forecast comes through, but you're obviously risking more if your prediction doesn't end up panning out.
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Calculations Galore
From here, the calculator does its magic and works out the potential outcomes based on the horses that you've chosen. Of course, this involves a fair bit of maths to figure out, but that's the whole reason we've chosen a calculator to do the heavy lifting in the first place.
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Potential Winnings
Finally, the calculator will spit out a number once all of the calculations are done, leaving you with the potential payout based on your odds and how much you're staking.
Remember, though, this is only a rough projection - while they're generally very accurate, the actual figure you would receive if your forecast is correct can vary if the odds change before the race starts or any deductions are applied, for instance.
Types of Forecast Bets
Now that we've explored how these calculators work, there are actually a few different ways you can get started with one of these bets:
What is a Straight Forecast?
A Straight Forecast is the perfect bet for horse- and dog racing because it requires you to predict the top 2 in a given race. When placing a Straight Forecast, you are betting on which horse/dog will finish 1st and 2nd in 1 race on 1 betslip. It needs to be the correct order for you to win on the Straight Forecast.
How Does a Reverse Forecast Differ From a Straight Forecast?
On the other hand, reverse forecasts are a lot more forgiving, as the main difference between the two is that you don't need to specify the exact order in which the horses are going to finish - just which two they are.
Put simply, this lets you choose the two finishers, but even if they're in the wrong order, you'll still win the bet. Understandably so, lots of people opt for these kinds of bets instead of straight forecasts as you have a little more flexibility, but the fact that there's a wider margin for error means that these typically don't have as high returns in comparison.
How is my return calculated on a Straight Forecast?
If you win on a Straight Forecast your return will be based on a mathematical equation which takes into consideration a multitude of factors i.e. how many horses/dogs involved in the race and the respective odds on them (among other things). This is also referred to as the official industry forecast return.
In Pool/Tote betting your return will be based on the amount of money put into the pool and how many people contributed to the pool.
Pros and cons of a Straight Forecast
The pro of a Straight Forecast is that you can easily get high odds betting this way. The con of Straight Forecast is that both of your outcomes need to be correct for you to get a return.
How is my return calculated on a Reverse Forecast?
If you win on a Reverse Forecast the same rules apply as with the Straight Forecast. That means your winnings will be based on a mathematical equation and you will get the official industry forecast return.
Pros and cons of a Reverse Forecast
The pro of a Reverse Forecast is that it offers more security than a Straight Forecast because both your horses can finish either 1st or 2nd. The con of Reverse Forecast is that you must pay 2 stakes instead of 1 for the added security.
What is a Combination Forecast, and how does it work?
Lastly, there are combination forecasts, which basically involve three or more selections of horses and then covering every possible order that they could finish in.
Ultimately, the aim of this type of forecast bet is to give yourself a greater chance of winning since you have various different combinations in the order that the horses will finish.
Still, it's a bit more complex than your average bet and costs a bit more since multiple bets are being placed, so it's not as popular as some of the other options on this list.
Benefits of Forecast Betting
More Informed Decisions
Experiment with a few different horses and their positions to see what their returns might be before committing to the bet.
Strategic Approach
You've got a much higher chance of placing accurate bets when you're able to consider a few different factors and use a calculator to see the potential returns - needless to say, it's less effort on your end when you're using this calculator, too.
Increased Engagement
If nothing else, forecast betting is generally just an exciting way to bet since you're backing multiple different horses compared to picking a clear winner.
Conclusion
Remember that while forecast bet calculators are, of course, useful for giving you an idea of what you could win, they obviously can't predict the future.
So, have fun using this calculator to aid your betting strategy, but ultimately, try to embrace the excitement of the unexpected when you're watching the race unfold!
