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A Back Lay Equivalent Calculator is a tool that betters can use to see what the other odds on a match should be, determined on the first odds. The tool is only useful in bets where there are only two different outcomes and can help you determine if the odds actually provide the value it should or if the bookie has a higher edge than usual. The tool is very simple to use as you simply just need to enter the odds on one of the option and press the submit button, which will then show you exactly what the other odds on the reverse outcome should be to be completely fair.
The Back Lay Equivalent Calculator can be used to see which bookie offers the most fair odds for you to bet on an event. Simply put, you will be able to see if the decimals between the two odds are as they should be or if the bookie has given themselves a bigger edge than they should, making it a bad bet for you.
The tool is not something that you in general will need to use, but once in a while you may suspect that something may be completely off about the odds and then you have the possibility to check it fast, without having to take out the calculator and figure it out yourself.