Calculators & Tools
New to matched betting? Learn how to use this calculator to profit from bookmaker promotions in my complete matched betting guide.
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This calculator takes the manual work out of matched betting by calculating the stake you must place at the betting exchange (your lay stake) to get as close to breakeven as possible on your qualifying bets. It also maximises profit when placing your free bets. It also shows:
This calculator is for making a profit from a range of offer types, the most common being ‘Bet X, Get Y’. I recommend working through my Matched Betting Guide so you can fully understand the matched betting process and its use.
Depending on your stage when profiting from a bookmaker promotion, the calculator has a few different modes.
Use this mode when placing your initial bets to claim your free bet, risk-free bet or bonus. Input the stake and odds from your selected market at the bookmaker (back bet), along with your odds and commission at the exchange (lay bet), and it will show you the amount you need to stake at the exchange (lay stake) to make the minimal loss.
Use this mode when turning your free bet into a profit. It works for free bets and bonuses (A bonus is a free bet that needs to be ‘rolled over’ a set number of times before you can withdraw it. For example, a bonus with a three times rollover requirement means you must wager it three times before you are allowed to withdraw it as cash). For bonuses, you must bet until you either meet the rollover requirement or lose at the bookmaker and win at the exchange. My Bonus Rollover Guide gives full details. Again, input your stakes, odds and commission to get your lay stake.
Some bookmaker promotions will return your initial stake (the ‘free’ one they give you), although most will not. If the promotion terms say your stake will be returned, check ‘Stake returned’ to adjust the calculations accordingly.
Some promotions will give you money back if your bet loses. E.g. ‘Bet £10 and get £5 back if your bet loses’. Select this mode to factor in the cashback amount from losing bets.
The calculator uses Smarkets colours (green for back, blue for lay) by default. For Betfair colours (blue for back, pink for lay), you can switch in the main website navigation – under the palette icon on non-mobile devices.
Use part lays when you have already placed part of your lay bet at the exchange, but more is needed to give an equal profit on every outcome. This instance could arise if you made a mistake with your first lay bet. Enter the part lays you have already placed, and the calculator will give the lay stake required to equalise the profit on all outcomes.
Use the slider to weigh your profit towards a win at the bookmaker or the exchange. Doing so can give a higher profit on particular outcomes, which you may want to do to keep things exciting, or if you wish to retain a higher portion of your bonus when completing rollover requirements. My Bonus Rollover Guide has full details.
Click the ‘underlay‘ or ‘overlay‘ headings to set the slider to a position where your bets will result in a reduced profit on either the bookmaker or exchange side and a higher profit on the opposing side.
My Reload Offers page contains details of every profitable bookmaker promotion currently available. Filter by ‘Bet X, Get X’, ‘Bet X, Get X if…’, ‘Free Bet’ or ‘Risk-Free Bet’ offer types for offers you can do using this calculator.
The calculator at the top of the page does all these calculations for you (and more!). However, if you’re curious or need to know how to calculate lay stakes for matched bets manually, here are the formulas.
These formulas give an even profit no matter the outcome of your bets.
Lay stake for qualifying bet
Lay stake = (back odds * back stake) / (lay odds – lay commission)
Lay stake for free bet if stake not returned
Lay stake = (back odds – 1) / (lay odds – lay commission) * free bet value
Lay stake for free bet if stake returned
Lay stake = (back odds * free bet value) / (lay odds – lay commission)
Matched betting is a way of exploiting bookmaker promotions to make a predictable profit from each one. By covering all outcomes of an event, you can meet the requirements for claiming free bets or bonuses while your bets cancel out, resulting in an overall profit or loss close to breakeven. You can then repeat the process to extract about 80% of the free bet amount. For example, you can earn about £8 profit from a £10 free bet.
My comprehensive and free Matched Betting Guide will take you through the basic concept with a complete walkthrough of your first bookmaker promotion. You’ll even earn about £15 in the process.
Beyond that, my Matched Betting Academy details how to profit from every UK bookmaker’s ‘welcome’ offer, all for free. Designed and tested by matched betting experts, it also provides techniques to make money from extra place offers, 2UPs, price boosts, and other recurring existing customer offers, all logically structured and well-paced.
Make £600+ from bookmaker welcome offers.