Matched betting calculator
As part of the welcome offers used to attract new customers, bookmakers offer free bets and bonuses that have staking requirements. Once a qualifying bet has been placed the matched betting calculator is a good tool to make money from these offers.
What is the matched betting calculator?
The matched betting calculator is a trading tool which is essential if you are matching bets to take advantage of a bookmaker’s free bets. In order to receive a free bet from a bookmaker, bettors must place a qualifying bet. It can be used to work out the staking for both types of bet. The process involves placing a back bet and an equivalent lay bet with an exchange to guarantee a profit, with the calculator automatically working out the lay stake. The free bet calculator works out the liability and potential profit. Bet information has to be entered and then the matched betting calculator calculates the lay stake with the exchange which ensures a win regardless of the outcome.
MATCHED BETTING CALCULATOR
|Bookmakers Bet Wins|
|Exchange Lay Wins|
How to use the matched betting calculator?
When bookmakers offer free bets, customers can guarantee a profit by placing a matching lay bet. The free bet calculator is a key part of matched betting and there are many free products online. In order to be credited with the free bet new customers generally have to place an initial bet after making a deposit. You need to enter the following information:
- Back stake.
- Exchange lay odds.
- Exchange Commission.
- Click the CALCULATE button.
- The lay stake is displayed.
The matched betting calculator works out the lay stake for normal bets, free bets with the stake returned and free bets with the stake not returned. The free bet calculator indicates the lay stake, liability and overall position or potential profit.
What is matched betting?
Matched betting is also known as back or lay matched betting. Most bookmakers offer new customers free bets or bonuses and some incentives for existing customers. Matched betting is the process by which bettors take advantage of bookmaker offers to guarantee a profit regardless of the outcome of the race or match or results in many other sports. Matched betting produces risk-free bets because it is not based on chance but a mathematical calculation which can be done using a free bet calculator. Typically a matched bet will produce a profit of up to 85% of the free bet. Matched betting involves placing bets to become eligible for bookmaker free bets.
Here is an example using the matched betting calculator for a bookmaker free bet with a value of £50:
|Lay commission %||0.05|
|Back wins Profit||£40.19|
|Lay wins Profit||£40.21|
The combination of the free back bet and lay bet guarantees a similar profit whichever bet wins. In this example, the return is more than 80%. The return is greater the smaller the difference between the lay odds and the back odds. Ideally, the back odds and lay odds should be the same but this is rare. Generally, for any outcome, the lay odds on the betting exchange will be bigger than the back odds with the bookmaker. There may be small windows of opportunity when the lay odds are lower than the back odds but this will quickly shut because the market soon readjusts.
Advanced matched betting calculator tools
The matched betting calculator can perform the simple calculation to work out the lay stake for equal profit or loss. when the bet is fully matched for the full stake. However, the better free bet calculator offers advanced features which allow for more complex calculations. Here are some of those features:
Generally speaking, the matched betting calculator wants the returns from the back bet winning to be the same as when it loses. In this case, the lay bet equalises the profit regardless of the outcome. When overlaying, there is less profit if the back bet wins and more profit if the lay bet wins. The opposite is true when underlaying. In that case, there is more profit from a winning back bet and less profit from a winning exchange lay bet. Overlay and underlay matched bets can still be profitable but this varies based on the chosen lay stake.
This function works when a portion of the lay bet has already been placed. This may be at different odds, making the calculation slightly more complicated. Sometimes, you may wish to lay a certain amount right away and the rest later on.
Free bet calculator
The free bet calculator establishes the staking for the qualifying bet and the free bet. The calculator eliminates the need for a manual calculation. Users can input the back stake, back odds and lay odds associated with a free bet. The free bet calculator generates the result of the two outcomes in terms of the potential profit and liability. A free bet calculator is an essential tool when implementing matched betting. It shows the required back bet with the stake with the bookmaker and lay bet stake at the betting exchange.
Why use the matched betting calculator?
The concept of matched betting came about because of the existence of betting exchanges. For the first time, bettors could play the role of the bookmaker by accepting bets. This allows you to place a back bet and a lay bet on the same outcome. Most bookmakers offer new and existing customers some form of a free bet. The matched betting calculator makes it easier for customers to use back bets in hand with lay bets to win regardless of the outcome of the event.