In recent years, online casinos and sportsbooks have continuously innovated in some of the promotions they run, one of which has been widely adopted across many sites, being early payouts. Now, more markets than ever before apply this type of promotion, with these having the potential to affect the outcomes of bets by relating to specific terms of a sporting event. Consequently, we here at OddsMonkey have devised an early payout calculator that can easily be used to determine any potential returns a bet or matched bet could yield should this promotion kick into action.
What Is An Early Payout?
Before we actually get onto the early payout calculator specifically, we must define exactly what early payout betting offers are. Put very simply, an early payout is a feature implemented by bookmakers that automatically considers a bet to be successful should certain criteria be met. Unlike typical cashouts, this type of promotion does not use reduced odds, with the price at which the bettor placed their wager being honoured regardless of whether the event has fully run its course or not.
How Does Early Payout Work?
Early payout promotions can work in a number of different ways; however, this ties specifically into the certain criteria that can cause this feature to come into action. The early payout functionality is actually determined by bookmakers, with each one operating this bonus in its own specific way. More often than not, the types of bets placed in order to qualify for the early payout feature have to meet a threshold of both minimum odds and stakes.
Bookmakers may offer early payouts on an event based on a number of different factors; however, the type you are most likely to come across is found in football betting. For example, if a team goes 2 goals up at any point during the match, the bet could be settled as successful, with the early payout coming into action. Regardless of whether the opposition comes back to draw or even win the match, any potential profits could be paid out early should the predetermined criteria be met in play.
When it comes to 2up offers and early payout promotions, they are applicable not only to football but also to a whole host of other markets and sporting events which utilise this feature nowadays. In tennis, for instance, if a player leads by a certain number of sets, the bet could be settled as complete, regardless of the final outcome. In golf and horse racing betting, if a participant leads by either a certain distance or point tally, this could once again bring the early payout feature into action. These are just a handful of the sports in which early payout offers are utilised, though, with there being so many others that also feature these promotions with their own set of tangibles, of course.
It is also worth noting that if the opposition meets the criteria and your selections do not, the early payout does not settle your bet early. This only works for your actual selections, with it being an alternative to cashing out for reduced odds, something which a bettor may feel is the sensible option to do should they see some momentum sways in their respective sporting selections.
How To Use An Early Payout Calculator
Now that you have a better understanding of what an early payout is and how it works, you may be considering how to use the early payout calculator. This is one of the many betting calculators we have on-site at OddsMonkey, which can determine any potential returns an early payout could yield should the bonus be activated for your proposed bet.
The early payout calculator we have on-site is split into two sections, one being the back segment and the other the lay. This is primarily due to the tool being incredibly useful in the realm of matched betting, something we will get onto shortly. In the back section, bettors can input the stake of their selection, the odds at which they were placed, and the maximum prize the bet could potentially return.
The other section is the lay portion, with these bets being placed solely on betting exchanges when wagering on the opposing outcome of the back bet. Here, the early payout calculator requires the lay odds, stake, any liability, and the commission that a chosen exchange may take. After all these pieces of info have been input, the final thing bettors must select is whether the bookmaker has paid out early or not!
The Benefits Of Using An Early Payout Calculator
When using the early payout calculator in this manner, it actually presents a range of different benefits. The first one is arguably the most obvious, with this being its ease of use. By only requiring a few key inputs, the calculator remains simplistic. Despite all this, though, its accuracy is unrivalled, with this being able to do calculations automatically, negating any potential human error, something which could crop up should the calculations be done manually instead.
In addition, the early payout calculator is extremely efficient, something which can be attributed to its accuracy. By taking care of all the calculations, it streamlines the overall betting process, and if used frequently, this can save time both in the long and short run.
Who Can Use The Early Payout Calculator?
With the benefits that the early payout calculator offers, it would be fair to say that this useful tool can pretty much be used by anyone who may have the desire to do so. As we previously mentioned, early payouts are utilised in a whole host of different sporting events, so whether it be golf betting, horse racing, tennis betting or any other available market, this calculator can be utilised to its full potential.
However, as we previously touched upon, the early payout calculator that we house on-site is specifically designed with matched betting in mind. If you are unfamiliar with this strategy, it involves covering all outcomes of an event by placing a back and a lay bet. These two separate bets counteract each other, meaning no matter the outcome, at least one of these will be deemed as successful. If using favourable odds and utilising the free bets sportsbooks give out, this could potentially lock in some profit.
However, early payouts are especially useful within the matched betting realm as if one leg is paid out early, there is still potential for a comeback to occur, allowing the other portion of the bet to also be settled as successful. In these cases, both portions of a matched bet could return, with the early payout calculator being extremely useful should you be applying this innovative strategy.
More Betting Calculators at OddsMonkey
In terms of the early payout calculator, though, there are other tools here at OddsMonkey that are specifically tailored for matched betting, too. There is a whole range of these that can come into play should you use this strategic betting approach, with all of these possessing the same benefits that we have already covered.
Unsurprisingly, the matched betting calculator is one of the most useful calculators in this sense, allowing bettors to input both their back and lay selections in order to determine if a matched bet is actually profitable.
Something we didn't mention earlier is that early payouts aren't just for single bets either, with bookmakers often offering this type of promotion for multi-selection bets, too. Consequently, the accumulator betting calculator could be another tool of use, as it automatically combines odds of various selections in order to calculate the potential returns!
