Betting Software & Tools: Odds Tracker Guide

What Is An Odds Tracker?

An odds tracker, as the name suggests, tracks the fluctuation of odds on multiple markets. The idea is that the user will operate the odds tracker to find the best odds available on their chosen markets. Users can search for specific teams, sporting events, or individual players using filters to narrow down the number of viable results. Some odds trackers operate solely on pre-markets; bets that will happen at a later time. For example, bets for events that will occur later on in the day, or on the following day, are considered to be pre-markets. Others provide a live odds tracker service which allows you to see live odds as they change in real-time. Some odds trackers are aimed at specific sports. It is common to find football bet trackers, for example, although other trackers may focus on the other types of odds offered. For example, some show falling odds, odds that are suitable for matched betting, or even odds where handicap margins have changed dramatically.

One bonus of a betting odds tracker is the fact that it can search thousands of odds within seconds. It is able to process huge quantities of data that a punter alone could never compute. While this is a speedy process, some find that the act of searching using a piece of code or software is less fulfilling than searching for odds yourself— but we’ll talk more about this soon.

Why Do People Use An Odds Tracker?

There is one great advantage over all the others when it comes to using an odds tracker: it displays odds from numerous sources, all at once. While some trackers will have more options than others, it’s likely you’ll find your favourite bookmaker, the top bookies, and maybe even some bookmakers you’ve never heard of before all in one place. You’ll be able to see odds for each of these bookmakers at a glance, meaning you won’t have to waste time scouring different sites for the best odds. That can be valuable when time is of the essence, for example, when betting on live markets using a live odds tracker.

However, even if you’re betting on pre-match bets, you can still capitalise from an odds tracking tool. Many betting tools are included in odds tracking software. This includes blocked odds, which show how odds have changed since they were first introduced. This insight gives bettors the chance to see patterns in the odds displayed; for example, whether they’re falling or rising. Odds that are getting larger can indicate that a football team is less likely to win than was previously thought, for example. This suggests to a bettor that extra research is needed.

Is Using An Odds Tracker Legal?

Odds tracker websites and software are completely legal to use in the UK. You’ll be pleased to know that there are no grey areas at all. It’s thought that by using odds tracking websites you can increase your potential return by as much as 10%-15%.

With that said, there is a potential fly in the ointment: the shadow of  arbitrage betting.

If you’re unfamiliar with the term, arbitrage betting is where you place bets on all possible outcomes of a sporting event on odds that guarantee a profit. Arbitrage betting is not illegal, although it is certainly frowned upon by bookmakers. Often, you’ll find that a bookmakers’ terms and conditions will disallow use of any software or professional gambling practices. If you do use these kinds of tools, your betting history will likely give you away, and the bookies are alert to the signs of such usage. If this happens, a bookmaker is within their rights to close your account— and they don’t have to give you access to the funds you had held in it, either. For this very reason, we recommend against using an odds checker for arbitrage betting.

How Much Does An Odds Tracker Cost?

Odds checking tools are generally free to use online. These are usually web-based tools rather than dedicated software, although we did find a couple that you could download. You will usually need to sign up with an odds tracking website to use the tool. This involves creating a username and password. Some of these websites also require that you link your pre-existing bookmaker accounts to their site too, for instant betting.

Odds tracking is completely free, which has guaranteed its popularity. It is a tool that is often used in the betting industry by players looking to get the best odds on their bet; after all, the higher the odds, the bigger the return. One downside of using an odds checker is that some do not include extra bookmaker bonuses that may sway you towards one bookmaker over another. The better odds tracking websites include promotions, and may even add extra information about the bookmakers’ reliability and website performance. This may be in the form of bookmaker or bonus reviews.

Overall, though, there is no substitute for finding a great bookie with great odds for yourself. While odds checkers are great if you’re short on time, it does suck the fun out of the chase a little.

What Are The Advantages Of An Odds Tracker?

  • While most experienced bettors will swiftly be able to find good odds for their preferred bets, an odds tracking tool is speed personified. Nothing quite compares to the adeptness of an odds checker for searching a large number of bookmakers’ sites all at once. This speed is particularly useful when betting on live markets. A live football betting odds movements tracker, for example, allows you to check football odds during a game and react quickly to key moments in the match.
  • Everyone wants the best odds they can possibly get. An odds checker makes this a little simpler by checking multiple bookmakers’ odds at once. We’ve seen odds checking websites with up to 80 different bookmakers’ odds on them. Without an odds checker, that’s an awful lot of websites you’d have had to check manually to deliver the same results. By checking so many bookmakers on your behalf, an odds tracker ensures you can instead spend your time formulating a great betting strategy. After all, no good bettor should be without one.
  • Once you’ve found your odds, all you need to do is click on them and you’ll be able to bet right from the odds checker itself. That way, if you need to place multiple wagers on the same bet as part of multi-bets, you’ll be able to do this without the need to search again. Most odds checkers can also take bookmaker bonuses into account and apply them automatically as you bet. This again frees up time that can be better spent.

Time is perhaps the biggest advantage of using odds tracking websites. The extra time allows you the freedom to create a solid betting strategy before parting with your bankroll.

What Are The Disadvantages Of An Odds Tracker?

  • Betting online is a fun pastime, and it would be remiss to mention that while odds checkers are quick and efficient, they’re not the most fun in the world. How many times have you been excited to discover great odds and a bonus that could give you the edge over a bookie? It’s a great feeling… but one that you’ll miss out on if you outsource to an odds tracker.
  • While odds checking websites are designed to update quickly to account for changes in the market, it is worth noting that different sites will update at different time intervals. While some will update swiftly, others may choose to bulk update several odds at once. This can pose a problem for some bettors. Live betting odds fluctuate rapidly to reflect the thrills and spills of a sporting event. While most sites will compete with these changes, others won’t be able to reflect the game’s events. This can be costly in rapid sports like football, where goals can happen in mere seconds.
  • Arb betting relies on the perfect odds at the right time, and an odds checker can help with this. However, arbitrage is not seen favourably by bookmakers, who can deactivate your account without returning your funds if they believe you’re using the method to break their website’s rules. Still, many punters do use an odds checker for this purpose. If you wish to follow suit, then remember that you do so entirely at your own risk, and don’t be surprised if your bookie suddenly closes your account.

While odds checking websites have their upsides, it’s possible their information is not 100% accurate. Furthermore, using this information for arb betting could lead to you having to forfeit existing winnings and your accounts being closed.

Full Test — Our Experience Using An Odds Tracker

We couldn’t tell you all about using odds tracking without using the software for ourselves, so we took a handful of options and tested them out. Before using the software, we set some ground rules for what we were looking for. Were there any problems using it? Was it reliable, what features were available, and did it offer an engaging experience? With our criteria in place, we got to examining our chosen software.

Was The Software Reliable?

When checking the odds provided on the odds checker websites, we were looking to ensure that they were as described. That means the odds the odds checker claimed were the best were actually the best. We also wanted to ensure the odds were available at the bookmaker the checker said they were. We picked a handful of World Cup football bets to compare.

What we found was although odds were generally consistent when the odds checkers had the same bookmakers available. However, there were occasions when one checker offered lower odds than the another for a couple of bookies. This cast doubt over whether the odds checking software was truly reliable.

What Extra Features Were Available?

One positive point to note was all odds checker websites we used also mentioned bookmaker bonuses in one way or another. While two of the sites offered the same promotions, one checker featured a larger bonus than the other. this level of inconsistency was a little disconcerting. Once again, we chose to check the bookmakers’ website for clarification. Could it be that we’re not saving so much time after all?

Is An Odds Tracker Worth It?

We all use automation in our daily lives to make them simpler. From the alarm clock in the morning to the smartphone app tracking our steps, we’ve embraced the digital age.

Despite all of this, we at betting.org think that when it comes to betting, little compares to the tried and true methods of research and careful betting. That’s why we’re a little reluctant to recommend using odds tracking software to place bets. Not only does it take the fun out of wagering by doing the detail work for you,  the software is far from infallible. Our tests showed that: odds and bonus information displayed incorrectly. This led to us needing to double-check with the bookmaker to make sure what the checker was telling us was accurate. With live betting, these are mistakes that simply cannot happen, thus the benefits of an odds tracker are dubious.

While technology has undoubtedly come a long way, it’s not perfect yet by any means. Even so, odds tracking software is generally free to use, which makes it a useful occasional tool. We certainly wouldn’t be reaching for it every time, though. We much prefer scouring the web for great odds and bonuses ourselves.

What Are The Alternatives To An Odds Tracker?

Odds trackers are not perfect, but thankfully there are plenty of alternatives out there. We’ve already mentioned the importance of doing your own research to find the best deals, and at betting.org we try to take as much burden off you as possible. Our website is visited by a community of worldwide punters, all interested in the same thing – getting value for money and having fun when betting. To help them do that we’ve created a huge database of bookmaker reviews, so you can swot up on those betting sites to make sure that they’re reliable and easy to use. Bookmaker bonuses are also given the same treatment, with detailed information given on how to claim the bonuses and what restrictions apply also. We’ve also got user comments from fellow punters, so you can see exactly what they think of a bookmakers’ performance. Ideal for those just looking for some friendly advice. Betting tips and betting strategies can also be found so you can plan your bets ahead of time and focus on what really matters – getting the best odds.

Our community is made up of people just like you: people who are interested in sports betting. It doesn’t matter if you’re a football fan or a horse racing fan, you prefer cricket or something more niche such as water polo— you’ll find helpful advice here. Remember: nothing quite compares to hearing from people in the know, and our experience confirmed to us that betting software still has a long way to go to replace genuine knowledge and a community feel.

Software may be able to show the change in odds, but it can’t tell you why odds have lengthened or shortened. In horse racing it could be a niggling injury, in football, it could be dissent in the national team. Without having that insider knowledge, an odds checker website is simply reporting numbers. But a good bettor knows that every bit of information you can glean on a betting market makes a difference. For that reason, we would recommend betting.org over odds tracking software every time.

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