Bet Calculator


See below for notes on how to use the Bet Calculator

How the Betting Calculator Works

The bet calculator has one primary function. This is to calculate the lay stake to place on the betting exchange when laying off your back bet. In addition to this your liability is also calculated and displayed. The liability is what you need in your betting exchange to cover the lay bet.

The lay calculator also doubles up as a profit calculator. When using the using the lay bet calculator, it also displays the guaranteed profit. This matched betting calculator is an essential tool for matched bettors when backing and laying bets.

Bet Calculator – Backing and Laying Examples

Normal Matched Bet (Qualifier Bet / Arb Bet)

Bet Calculator - Showing Bookmaker Stake, Bookmaker Odds, Exchange Odds, Exchange Commission. Calculates the Profit

The Match Bet Calculator in use. We have a normal bet which would be a typical example of a qualifying bet. We are losing a small amount, but this qualifies us for a free bet that we can cash out

This type of matched bet (normal bet), would usually be used when placing a qualifier bet. I.e. a bet that is initially placed with the bookmaker that qualifies you to receive a free bet later. Let’s look at an example.

So we have entered five pieces of information into the matched bet calculator:

  • Bet Type: Normal (used when placing a qualifying bet)
  • Bookmaker Stake – This is the amount of money you are placing on the bet at the bookmaker (the back bet)
  • Bookmaker Odds – The odds that have been offered by the bookmaker in decimal format
  • Exchange Odds – The current odds on the betting exchanges, i.e. Betfair / Smarkets
  • Exchange Commission –  If you’re using Betfair to lay off the bet, the rate is 5%. Smarkets is 2%

In this example, we’re backing a bet at odds of 3.0 for a stake of £25. We’re laying the bet off at Betfair at odds of 3.1 with exchange commission of 5%. The lay bet calculator produces the following information:

  • You could lay £24.59
  • Liability should be £51.64
  • Bookmaker Bet wins position : – £1.64
  • Exchange Lay wins position: – £1.64

Let’s go through these pieces of information in detail.

Lay Stake

This is the amount to be entered in at Betfair as a lay bet. It’s essentially the amount of money we will win before commission if the back bet loses. The lay bet is the bet that protects us from losing the back bet at the bookmaker.

Liability

The liability is the amount needed in your exchange account to cover the possibility of the lay bet losing (or the back bet with the bookmaker winning). See below

Positions

With this bet, there are two outcomes. Our bet can win at the bookmakers, or the bet can lose. The positions are detailed below:

  • Bet wins at bookmaker
    • Profit at bookmaker = £50 (£25 x odds of 3.0 less stake of £25)
    • Loss at exchange (liability) = £51.64
    • Net loss = £51.64 – £50.00 = £1.64
  • Bet does not win at bookmaker
    • Loss at bookmaker = £25
    • Profit at exchange = Lay Stake £24.59 – 5% = £23.36
    • Net loss = £25 – £23.36 = £1.64

The lay calculator essentially calculates the ideal lay stake to lock in the position, regardless of the result. Most “normal” bets will result in a small loss like this, but as you will find in the matched betting training guides, these normal bets are used to unlock the free bets which carry a much higher value! Take a look at the next example of a free bet.

Free Bet Calculator (Stake Not Returned)

The second type of bet we will look at, and also our favourite, is the free bet! This is where the money is made. Let’s presume for this example, the bookmaker has given us a free bet of £25. It could be a bonus for us placing a qualifying bet like the example above. The free bet calculator is shown as follows:

Lay Calculator for a Free Bet - Showing Profit made. This is a Stake Not Returned Bet

Example of the Matched Betting Calculator working out the profit of a Free Bet (SNR)

This time, the five pieces of information entered into the match bet calculator:

  • Bet Type: Free Bet (SNR)
  • Bookmaker Stake – This is free bet being placed at the bookmaker (the back bet)
  • Bookmaker Odds – The odds that have been offered by the bookmaker in decimal format
  • Exchange Odds – The current odds on the betting exchanges, i.e. Betfair / Smarkets
  • Exchange Commission –  If you’re using Betfair to lay off the bet, the rate is 5%. Smarkets is 2%

In this example, we’re backing a bet at odds of 6.0 for a free bet stake of £25. This time we are laying the bet off at Smarkets at odds of 6.1 with exchange commission of 2%. The profit calculator produces the following information:

  • You could lay £20.56
  • Liability should be £104.85
  • Bookmaker Bet wins position : + £20.15
  • Exchange Lay wins position: + £20.15

Like the first example, let’s dig deeper into this information:

Lay Stake

This is the amount to be entered in at Smarkets as a lay bet. It’s essentially the amount of money we will win before commission if the back bet loses. The lay bet is the bet that protects us from losing the back bet at the bookmaker.

Liability

The liability is the amount needed in your exchange account to cover the possibility of the lay bet losing (or the back bet with the bookmaker winning). See below

Positions

With this bet, there are two outcomes. Our bet can win at the bookmakers, or the bet can lose. The positions are detailed below:

  • Bet wins at bookmaker
    • Profit at bookmaker = £125 (£25 x odds of 6.0 less stake of £25)
    • Loss at exchange (liability) = £104.85
    • Net profit = £125.00 – £104.85 = £20.15
  • Bet does not win at bookmaker
    • Loss at bookmaker = ZERO – It was a free bet
    • Profit at exchange = Lay Stake £20.56 – 2% = £20.15
    • Net profit – £20.15

Likewise with the normal qualifying bet. The lay calculator produces the ideal lay stake to lock in the position, regardless of the result. As we are using a free bet this time, we are locking in a good 80% profit from a £25 free bet. The reason why we can’t cash out near 100% is because for most free bets offered by bookmakers, the original free back stake is not returned with the winnings. This will become clearer with practice.

Free Bet (Stake Returned)

It seems that we need to make an apology. In the section above, we stated that Free Bet SNRs are our favourite. Incorrect! Free Bet SR or free bet stake returned are more profitable, but unfortunately they don’t appear that often with the bookmakers as promotions. They are essentially the same as a free bet, but as you’ve guessed the stake is also returned, and we can factor this into our profits:

Matched Bet Calculator - Freebet Calculator - Stake Returned - Maximum Profit

Possibly the best of free bets! Having the stake greatly increases the profits from this free bet. We are nearly reaching 100%

For the final example:

  • Bet Type: Free Bet (SR – Stake Returned)
  • Bookmaker Stake – This is free bet being placed at the bookmaker (the back bet)
  • Bookmaker Odds – The odds that have been offered by the bookmaker in decimal format
  • Exchange Odds – The current odds on the betting exchanges, i.e. Betfair / Smarkets
  • Exchange Commission –  If you’re using Betfair to lay off the bet, the rate is 5%. Smarkets is 2%

In this example, we’re backing a bet at odds of 2.3 for a free bet stake of £25. This time we are laying the bet off at Betfair at odds of 2.35 with exchange commission of 5%. The profit calculator produces the following information:

  • You could lay £25.o0
  • Liability should be £33.75
  • Bookmaker Bet wins position : + £23.75
  • Exchange Lay wins position: + £23.75

Like the previous examples, let’s dig deeper into this information:

Lay Stake

This is the amount to be entered in at Betfair as a lay bet stake. It’s the amount of money we will win before commission if the back bet loses. The lay bet is the bet that protects us from losing the back bet at the bookmaker.

Liability

The liability is the amount needed in your exchange account to cover the possibility of the lay bet losing (or the back bet with the bookmaker winning). See below

Positions

With this bet, there are two outcomes. Our bet can win at the bookmakers, or the bet can lose. The positions are detailed below:

  • Bet wins at bookmaker
    • Profit at bookmaker = £57.50 (£25 x odds of 2.3)
    • Loss at exchange (liability) = £33.75
    • Net profit = £57.50 – £33.75 = £23.75
  • Bet does not win at bookmaker
    • Loss at bookmaker = ZERO – It was a free bet
    • Profit at exchange = Lay Stake £25.00 – 5% = £23.75
    • Net profit – £23.75

Likewise with the qualifying bet and free bet. The matched bet calculator produces the ideal lay stake to lock in the profit, regardless of the result. This time the free bet is stake returned, which allows us to cash out an even greater profit.

Matched Betting Calculator – Summary

We hope this provides much sought after advice when it comes to using our matched betting calculator. Like many areas, it will get easier with practice. By the time you work through week two of the matched betting tutorials here, you should be very comfortable with not only laying bets, but also tweaking the odds to maximise your profit.