Matched betting calculator – Free lay bet calculator

Our matched betting calculator is one of the most important tools for matched bettors. You can use our lay bet calculator to work out the exact amount your lay stake should be, how much your liability will be and above all, how much guaranteed profit you’ll make.

New to matched betting? Check out our matched betting partner OddsMonkey, and get started today.

We’ve made our lay bet calculator free for anyone to use, so read on to find out how you can benefit from using this tool.

Bet Type
Back Stake:
Back Odds:
Back Commission:
Lay Odds:
Lay Commission:
Lay Stake Required: £ Calculate
Results
Bookie Exchange Total
If Back Bet Wins
=
If Lay Bet Wins
=
Results
Bookie Exchange Refund Total
If Back Bet Wins
=
If Lay Bet Wins
=
OddsMonkey Betfair Integration

Since you’ve found this page I’m assuming you know something about match betting. But for those that don’t, here’s a short introduction before we look at how to use the lay bet calculator.

If you already know what matched betting is and how it works, go ahead and skip this section.

What is matched betting?

Matched betting or double betting as it’s also known, is a way of making money online by taking advantage of bookmakers free bets and other promotions.

In the modern world of online gambling, betting companies offer countless promotions for both new and existing customers on a regular basis. Here’s a good example from Smarkets.

Smarkets £10 free bet

Smarkets offer a £10 free bet to all new customers.

There are hundreds of similar offers available on a regular basis.

Using a process called back and lay betting and with help from tools like the lay bet calculator, matched bettors can make a guaranteed profit from these promotions.

What’s more, this entire process is completely risk free. You know the exact outcome of your bets before an event even starts. How awesome is that!

Back and lay betting involves placing two bets at different betting companies. One bet is used to activate the free bet or bonus and the other is used to make the process risk free.

Here’s the thing, the bookies don’t hand out free bets to everyone, they want something in return. They often require you to place a qualifying bet before you gain access to your free bet.

Therefore, matched bettors place a back bet at the bookmaker to qualify for the bonus or free bet.

The second bet is called a lay bet and is placed at a betting exchange like Smarkets or Betfair. You can get a better idea of how this method works in the calculator example later in the article.

Our matched betting partner, OddsMonkey will help you through the entire process allowing you to maximise your profit right from the get-go.

OddsMonkey

All in all, matched betting is one of, if not the best method to make money online in 2019. You really have to try it for yourself to truly believe its potential.

Still not sure what match betting is and how it works? Check out this article for more information and tips.

Right, let’s look at the lay bet calculator, where it fits into this process and how you use it.

Lay bet calculator – When to use the risk free bet calculator

You can use our lay bet calculator to work out the three different bet types below:

    • Qualifying bets – you’re qualifying for a free bet or placing an arb
    • Free bets – you already have a free bet to use
    • Risk free bets – you have a risk free bet to use

No matter which bet type you pick, the lay bet calculator works out the exact outcome for either a bookie (back bet) win or an exchange (lay bet) win.

As with all betting strategies, it’s important to maximise your profit from each bet. Our matched betting calculator is designed with this in mind no matter which bet type you select.

Why do we need a matched betting calculator?

The maths behind no risk matched betting is rather complicated and working out the correct numbers for each bet individually would be a time consuming process.

That’s where our lay bet calculator comes in handy.

The calculator makes the whole match betting process more efficient by saving time and allowing you to work out the most profitable bets. All of which helps you maximise your income in 2019.

Risk free bet calculator – Understanding the terms

Before we look at how to use the risk free bet calculator, let’s go through the terms used in the tool.

Back stake – This is the amount you bet at the bookmaker.

Back odds – The odds of a selected market at the bookie.

Lay odds – The odds of a selected market at the betting exchange.

Back commission – This is the percentage of net winnings the bookie takes, almost always zero.

Lay commission – Percentage of net winnings the betting exchange take, 2% for Smarkets and 5% for Betfair (more on this below).

Stake returned (for free bets) – Sometimes the bookies return the stake from a free bet, however this is quite rare. Therefore you generally won’t need to alter the Stake Returned box in our lay calculator.

Refund (for risk free bets) – The amount the bookie refund you on a losing bet.

Lay stake required – This is the amount you need to bet at the betting exchange. The risk free bet calculator works out the required lay stake to either minimise losses or maximise profits depending on what bet type you select.

Matched betting calculator – How to use the tool

Our matched betting calculator sometimes called a back lay calculator, lay bet calculator or a risk free bet calculator does all the complex maths for you and it’s incredibly easy to use.

Follow the simple steps below to use the matched betting calculator like a pro.

OddsMonkey Betfair Integration

Lay bet calculator – Different bet types

There are a number of different bet types built into our lay bet calculator which you need to consider.

Qualifying bet

Choose this option when you are qualifying for a free bet or bonus:

  1. Select Qualifying bet from the drop down menu
  2. Enter the back stake – the amount you need to place to qualify for the free bet or bonus
  3. The back odds at the bookmaker
  4. The lay odds at the betting exchange
  5. And finally, the exchange commission rate

Note, the ‘Calculate’ button will only show once the required figures have been entered. The lay bet calculator works out the most effective lay stake to minimise your loss from this bet.

Free bet

Use this bet type when you have a free bet from a bookmaker or betting exchange.

  1. Select Free bet from the drop down menu
  2. Enter the back stake – the free bet or bonus amount
  3. The back odds at the bookmaker
  4. The lay odds at the betting exchange
  5. And finally, the exchange commission rate

The calculator works out the lay stake to maximise your profit from the free bet. Typically you should aim to extract 80% from the free bet.

Our matched betting calculator also allows you to differentiate between a stake returned free bet and a stake not returned free bet. This added functionality ensures you maximise your profit from every free bet out there. However, the stake returned box can generally be left unchecked.

OddsMonkey

Risk free bet

Use this bet type when completing a risk free bet.

  1. Select Risk free bet from the drop down menu
  2. Enter the back stake – the free bet or bonus amount
  3. The back odds at the bookmaker
  4. The lay odds at the betting exchange
  5. The exchange commission rate
  6. And the refund amount – the amount you’ll receive if the bookie bet loses (specifically for risk free bets)

You’ll receive your refund either in the form of a free bet or a straight cash deposit into your account.

If it’s a straight cash refund, enter the same amount (in the refund box) as the back stake. If your refund is in the form of a free bet, you need to multiply the back stake by 0.8 as you’ll aim to extract 80% from the refunded free bet.

The risk free bet calculator will work out the optimal lay stake to maximise your profit from this bet.

Commission in our back lay calculator

Commission plays a big role in matched betting and you have the option of altering this figure in our lay bet calculator.

The amount of commission you pay varies depending on which betting exchange you’re using.

Here’s a quick look at the typical commission rates for the most popular betting exchanges:

Smarkets – 2%
Betfair – 5%
Betdaq – 5%
Matchbook – 1.5%

Note: The lay commission in our back lay calculator has a default set to 2% to account for the Smarkets commission rate. If you use another betting exchange like Betfair you can simply alter this amount accordingly.

Unlike other matched betting calculators our back lay calculator lets you alter the back commission. This is useful if you want to place a back bet at a betting exchange. The calculator has a default value of zero for the back commission so change it accordingly if you need to.

If you’re not sure what I’m on about, I recommend you check out our matched betting guide.

Matched betting calculator pro tips

So we know the calculator is vital for match betting, but let’s look at some top tips to ensure you get the most out of this awesome tool in 2019 and beyond.

Tip #1 – Always use the match betting calculator

Our first tip is to always use the back lay calculator. This tip may seem a little self explanatory, however, you’ll be surprised at the number of people who don’t use the matched betting calculator enough.

As you progress with your no risk matched betting and become more experienced, you may feel you can calculate your own stakes.

Arguably you probably could, however, this is something I would strongly avoid doing. It can lead to costly, unnecessary mistakes which could impact your profitability.

Therefore, whether you’re completing a qualifying bet, a free bet, a risk free bet or a price boost, make sure you use the lay bet calculator.

All in all, stick with the matched betting calculator and you’ll be in safe hands when it comes to working out your overall profit and lay stakes.

Tip #2 – Double check everything

The matched betting calculator is an awesome tool. However, it only works out the optimal results based on the numbers you input (what you actually enter into the calculator).

Therefore, as with anything in matched betting, it’s important to double check everything.

Double check the calculator

This includes checking over the calculator to ensure you’ve entered everything correctly. One slight mistake could significantly alter the outcome of your bets and potentially leave large amounts of profit on the table.

If you like using multiple betting exchanges, always double check the exchange (lay) commission rate.

As I mentioned above, the commission rate changes between different betting exchanges and the lay commission on our betting calculator has a default set to 2% to account for the Smarkets commission rate. However, you can change this as and when you need to.

For more awesome matched betting tips, check out this article.

Back lay calculator example

To help you get started using the calculator, here’s an example you can follow.

Once you’ve found an offer or free bet to complete you’ll next need to find a market to place your back and lay bets.

If you’re unsure how to do this, I suggest you check out this article.

When you’ve found a suitable market, you’ll need to enter the back and lay odds into the calculator to work out the profitability of the market.

Let’s say I’m placing a £20 qualifying bet and I’ve found a market with the following odds:

  • Back odds: 2.5
  • Lay odds: 2.7

So I’d head to the matched betting calculator and select the ‘Qualifying Bet‘ option from the menu:

Matched betting calculator options

The next step is to enter the odds into the calculator. As I mentioned above, if you’re using the Smarkets exchange you can leave the commission rate set at 2%. If you’re using another betting exchange, change this figure accordingly. I’m using Smarkets, so I’ll leave the commission alone.

Back lay calculator example

Once I’m happy I’ve entered the odds correctly, I’ll hit Calculate and the results will show below. This is what the back lay calculator should look like now:

Lay bet calculator example

The matched bet calculator suggests I place a lay bet of £18.66, I’ll lose a total of £1.72 qualifying for my £20 free bet and I need a total of £31.72 in my Smarkets account to be able to place this bet.

In this scenario, I’d want to look for some better odds in the aim of decreasing the qualifying loss. Once I’m happy with the loss, I’ll go ahead and place my bets.

This entire process would be considerably harder without the use of the risk free bet calculator. It’s certainly a key part of any successful matched betting strategy.

Once you’ve gained access to your free bet, you can repeat the same process as above and make a guaranteed profit. You’ll just need to alter the bet type to free bet.

As easy as that…

Get started with matched betting

Matched betting is the number one way to make money online in 2019. Period.

However, for some beginners, starting no risk matched betting can be a challenging concept. There are plenty of new concepts and key terms to get your head around.

That’s why I strongly recommend you sign up with our match betting partner, OddsMonkey. They’ll walk you through the entire process hand in hand.

OddsMonkey

Here are just some of the benefits of joining their community:

  • Hundreds of tutorials that walk you through the entire process
  • Access to industry leading tools and software which will increase your profitability
  • An awesome support network along with a brilliant matched betting forum with thousands of members

And plenty more…

It really pays to join one of the best matched betting services in 2019.

If you’re unsure about any of the terms I’ve used above, be sure to check out the articles below or head to the blog where you’ll find all the latest news and information.

Back and lay betting
Matched betting key terms
Matched betting for dummies

In the meantime enjoy using our matched betting calculator.

OddsMonkey