I think that generally they are pretty accurate, depending on the brand, etc. of the monitor. Did you read reviews of it prior to purchasing? I heard that in general they can be 5-10% off what they are reading (meaning it's saying you burned more than you actually did).
I love mine, use it every time I work out - I figured even with being 5-10% off, it's worth it to have an estimate. The HR monitor works better than the monitors on any machine hands down.
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