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This paper presents a novel dense optical-flow algorithm to solve the monocular simultaneous localisation and mapping (SLAM) problem for ground or aerial robots. Dense optical flow can effectively provide the ego-motion of the vehicle while enabling collision avoidance with the potential obstacles. Existing research has not fully utilised the uncertainty of the optical flow—at most, an isotropic Gaussian density model has been used. We estimate the full uncertainty of the optical flow and propose a new eight-point algorithm based on the statistical Mahalanobis distance. Combined with the pose-graph optimisation, the proposed method demonstrates enhanced robustness and accuracy for the public autonomous car dataset (KITTI) and aerial monocular dataset.