You have just placed a bet on a horse race and the result is in. The horse won, thus you won as well. Your horse and its owner celebrated, and you were able to enjoy the experience. But wait, there’s more!
While you were waiting for the final result to show up, you checked the site’s betting conversion rate. Curious to know how your wager performed relative to others’, you looked for a way to calculate and compare the results. And that’s when you found the Calculated Betting Conversion, or CBC for short.
If you’re reading this, you’re probably wondering how to view a calculated betting conversion on a website. Let’s dive in and find out. Also, keep in mind that CBCs are different from typical odds and betting conversions, so we’ll discuss what they mean and how to interpret them.
The Difference Between CBCs and Other Calculations
If you’ve ever placed a bet or checked the results of a horse race, you’ll most certainly be familiar with the concept of a betting conversion. This is the percentage of people who chose a certain selection (e.g., the winning horse) over another (e.g., the losing horse). For example, if 75% of the people who placed bets chose horse A and 25% chose horse B, the betting conversion would be 50% (A wins over B).
The Calculated Betting Conversion is fairly self-explanatory. It’s the combination of the two concepts of betting conversion and average.
The major difference is that CBCs are calculated for every single competitor and every single selection. The calculations are based on the percentage of people who chose a specific selection from a given group. So, if we go back to the horse race example above, this would be a CBC for each of the two horses (A and B).
If you compare these two numbers, you’ll see that not only did your horse win the race (50%), but it also had the highest calculated betting conversion of all the horses (50% x 50% = 25%). In other words, your horse performed the best among all the competitors.
Also, keep in mind that in order to calculate the CBC, you’ll need to determine the percentage of people who chose a specific competitor or selection over another. Typically, this is done by viewing the results of a small sample size of previous bets placed on the site. Thus, the numbers below are an estimate based on the past performance and are likely to change.
As you can see, comparing the betting conversions of multiple competitors is not possible. This is because they are only calculated for the selections made by the website’s users. However, you can use the CBC numbers to compare your horse’s performance to the average betting conversion of all the horses.
How to Calculate and Use the CBC
The first step in calculating the CBC is to log in to your account and navigate to the My Profile page. From there, you’ll see a drop-down menu with your previous bets and click on the top option (e.g., the recent match).
On this page, you’ll find a table containing all your previous bets. Look for the matches you completed and click on the Confirm Bet button.
By confirming a bet, you’re confirming that you understood what the website’s match makers or spinners did and didn’t try to cheat you by manipulating the result. When this happens, you’ll see a black dot along with the numbers below the dot. What this means is that a CBC was calculated for that particular match and can be used to determine how your particular bet performed relative to the rest.
Another important thing to keep in mind is that the numbers above are not actual odds. Rather, they represent an estimate of the percentage of people who chose a given selection (e.g., your horse) over another (e.g., the other horses). Keep that in mind as we discuss the other stats on this page.
The Money Back Promise
On the My Profile page, you’ll also see a section called Terms & Conditions. Just above this, you’ll see the following bold text: Money Back Promise. Just below this, you’ll see a link to this page.
The Money Back Promise is pretty self-explanatory. When you click on this link, you’ll be taken to a page where you can read the website’s terms and conditions.
These are fairly standard terms and conditions that most websites have. Essentially, this is an agreement that the website will refund your wager, to some extent, if the result of the gamble is unfavorable.
Keep in mind that the terms and conditions are only an agreement between you and the website. This means that even if you don’t accept these terms and conditions, you still have the option to use the website. Also, if you follow the steps above to calculate the CBC, you’ll see that the numbers aren’t always accurate. This is why it’s important to keep your own records of your bets and use this information to compare to the estimates produced by the website.
The Win Rate
The Win Rate is another important calculation to make. Essentially, this is the percentage of your previous bets that you won. In other words, it’s the proportion of successful wagers to all the wagers you made. You’ll need to have placed at least 10 bets in the past to calculate this number.
This is also another way the website measures the success of its gambling operations. Look for this number on your My Profile page under Your Recent Matches. You’ll also find this number along with a map displaying your geographical location as the website’s users browse its website (if you’re logged in).
This is an important number to keep in mind. One of the primary ways the site determines how much it’s earned from its gambling operations is by viewing this number. Essentially, as the volume of wagers increases, this number will increase as well. So, the higher the number, the more money the website has earned from gambling.
The Variety Of Bets
One of the things that make the Calculated Betting Conversion unique is the wide range of bets it offers. As we discussed above, the CBC is an estimate based on a small sample size of previous bets completed on the site. Thus, the numbers can vary a lot from one match to the next. As a result, you’re likely to see a lot of different bets on this page.
However, this also creates problems for people who aren’t aware of how the numbers are calculated and the caveats they include. So, if you want to use the numbers for comparing purposes, make sure you understand how they work and how accurate they can be.
The Reason For The Variance
While the CBC is an excellent tool for comparing the performance of your horse to the average betting conversion of all the other horses, it’s important to remember that these numbers can vary a lot. And sometimes, this can be for a good reason. In other words, the reason the numbers vary a lot has something to do with how the site’s match makers or spinner set up the wager. This, in turn, has something to do with the type of bet you’re comparing it to.
For example, if you compare this number to the win rate, you’ll notice a big discrepancy. While the overall win rate is around 75%, the calculator-based number can be as low as 45% (if you compare this to all the other horses). This is because in some cases, the numbers are simply estimates and not the actual win rate. In these situations, you’ll need to look at the types of bets the site is offering and how they’re performing.
Also, sometimes, the reason the numbers vary is because the site offers a bet where the result is purely based on chance. In these types of bets, the variance is simply because there’s a lot of chance involved. Essentially, these are the same as flipping a coin and getting either heads or tails. In these types of bets, there’s no skill involved and the result will simply be based on chance. So, make sure you’re aware that in some cases, the numbers can be quite inaccurate and in others, they can be quite accurate.
This is why, when comparing your horse’s performance to the average or other horses’, you need to look at the reasons behind the variance to determine which one is more suitable for your needs.