Comprehensive Guide to Using a Matched Betting Calculator
Here’s a comprehensive guide to using a matched betting calculator:
What is a Matched Betting Calculator?
A matched betting calculator is an essential tool that helps bettors determine the optimal stakes for back and lay bets to ensure a profit regardless of the event outcome[1][2]. It takes the guesswork out of matched betting by providing precise calculations.
Key Functions
Matched betting calculators typically offer the following functions:
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Back/Lay Bet Calculator: Calculates the lay stake needed to cover all outcomes when placing a back bet with a bookmaker and a lay bet on an exchange[2].
-
Free Bet Calculator: Determines the optimal lay stake to maximize profit from free bet offers[2].
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Qualifying Bet Calculator: Minimizes losses on qualifying bets required to unlock free bets or promotions[2].
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Each-Way Bet Calculator: Handles calculations for each-way bets[2].
How to Use a Matched Betting Calculator
Step 1: Choose the Right Calculator
Select the appropriate calculator based on your bet type (e.g. qualifying bet, free bet stake not returned, free bet stake returned)[1][2].
Step 2: Enter Back Bet Details
- Back Stake: Enter the amount you’re staking with the bookmaker
- Back Odds: Input the odds offered by the bookmaker[2]
Step 3: Enter Lay Bet Details
- Lay Odds: Enter the odds available on the betting exchange
- Commission: Input the exchange’s commission rate (usually 2-5%)[2]
Step 4: Calculate Lay Stake
The calculator will provide the exact lay stake needed to place on the betting exchange to cover all outcomes[2].
Step 5: Place the Bets
- Place the back bet with the bookmaker
- Immediately place the calculated lay bet on the exchange[2]
Advanced Features
Some calculators offer advanced modes that allow you to:
- Specify commission on back bets (for exchange-to-exchange bets)
- Adjust lay stakes for underlaying or overlaying
- View impacts on liability and profit/loss with custom stake adjustments[3]
Formulas Used in Matched Betting Calculators
While calculators handle the math, understanding the underlying formulas can be helpful:
Qualifying Bet / Welcome Bet
Optimal lay stake = (back odds * back stake) / (lay odds – commission)[4]
Free Bet – Stake Not Returned (SNR)
Optimal lay stake = ((back odds – 1) / (lay odds – commission)) * free bet size[4]
Free Bet – Stake Returned (SR)
Optimal lay stake = (back odds * free bet value) / (lay odds – commission)[4]
Tips for Using Matched Betting Calculators
- Double-check all entries to avoid costly errors
- Use live odds to ensure accuracy
- Practice with small stakes when starting out
- Keep detailed records of your bets
- Utilize integrated tools like oddsmatchers when available[2]
By mastering the use of matched betting calculators, you can maximize profits and minimize risks in your matched betting endeavors. Remember to always double-check your calculations and place bets promptly to lock in the desired odds.
Citations:
[1] https://help.smarkets.com/hc/en-gb/articles/115000350131-How-to-calculate-matched-betting-bets
[2] https://london-post.co.uk/mastering-matched-betting-calculators-a-step-by-step-guide-for-beginners/
[3] https://outplayed.com/calculator
[4] https://www.oddsmonkey.com/matched-betting/matched-betting-maths-formulas/
[5] https://www.beatingbetting.co.uk/matched-betting-calculator/
[6] https://matchedbettingblog.com/matched-betting-calculator/
[7] https://www.oddsmonkey.com/matched-betting/calculator/
[8] https://www.reddit.com/r/beermoneyuk/comments/1b31qse/tightasf_cks_guide_to_matched_betting_and/