Matched Betting Calculator (Free Bet Calculator)

Match betting calculator, or free bet calculator if your prefer, which allows you to work out how much you need to lay to guarantee a profit from your free bet:

Back (bet for) Lay (bet against)
Qualifying bet
Lay stake 0.00 Lay risk 0.00
Overall profit : 0.00

What is ‘Matched Betting?

If you have joined a bookmaker and are a member of a betting exchange and have qualified for their free bet bonus, then using this Matched Betting calculator is a fantastic way to ensure that you make a profit from the free bet offer.

As you will know, one of the incentives that bookmakers dangle in front of prospective new customers is the chance to receive a guaranteed lump sum of free betting cash, once the user has made a deposit into their account, or made their first bet. Matched Betting offers you a way to bet using this cash to ensure that you turn an overall profit regardless of whether that bet wins or loses.

You can use the matched betting calculator, sometimes known as a free bet calculator, above to work out how to do this.

How To Use Free Bet Calculator

Free Bet & Stake Forfeit

The first thing to note is that at the top of the betting form you need to identify whether the money you are betting with is a Free Bet (if so, tick the box on the right of the Free Bet title). In addition, if your selection is a bet which the original stake is forfeited (ie, you only receive the winnings back, not the original stake), then you need to enter in the amount forfeit in the Stake Forfeit box.

Odds

Once you have completed these details you can then enter the details of the bet you are making with your free bet, or stake forfeit cash. Simply enter into the Matched Betting calculator how much you are betting on the selection and the odds at which you have backed it in the Back (bet for) column in the Stake and Back odds boxes.

The aim is to find a market with the closets and lowest possible odds here to ensure the most profit possible.

Example Matched Bet Calculation

So, for example, if I was going to back a horse called Jim Me Lad at 11.0 with a free bet of £25, I’d tick the Free Bet box, enter £20 in the stake box and the odds of 11.0 in the Back odds box.

What you then do is head to your betting exchange account and look at the best odds you can find on laying (that is, betting against you selection winning). Let’s say in this example, you can get lay odds of 11.0 against Jim Me Lad winning. You’d enter these odds into the calculator along with the betting exchange’s commission for taking the bet (usually 5% but this is user-definable if it is a different amount).

Clicking on the blue Calculate button on the bottom of the page reveals that in order to guarantee a profit on the race, you need to place a stake of £25.11 on the lay bet, for a total lay risk of £251.14.

However, what this means is that now whether Jim Me Lad wins the race, or doesn’t, you are now guaranteed an overall profit of £23.86.

If the free bet you make is a stake forfeit bet and you enter the £25 in the Stake Forfeit box, then this changes how much you’d need to lay against Jim Me Lad winning to £22.83 for a total Lay Risk of £228.31 and a guaranteed overall profit of £21.69.