You will be surprised to know that you can earn real money with free matched betting calculators offered by various bookmakers. This method involves zero risk, and it assures maximum profit. Now you must be wondering how this risk-free bet calculator offers works.
To make it simple let’s say you begin by placing a back bet. Here suppose you back Team X to win. You again put a lay bet for Team X to not win to remove the risk on the back bet. Once you place your first bet with Bookie, then you will receive free bets whether you win or lose.
Now you can use the free bonus amount to repeat the lay and back process. Because matched betting gives you the assurance of all-time profit. And here you can play with the free bet money and still get to keep the winnings. The matched betting process relies on mathematical calculations rather than chances. But don’t worry the purpose of this article is to help you understand how it works.
How to use the matched betting calculator
Matching is tempting but requires a lot of calculations. So, a match betting calculator will help you to calculate and place the “back & lay” bets with good judgment. In a nutshell, it will calculate the returns from the stake. Conversely, an odds calculator helps you place free bets in a way that will maximize profits.
Using a match betting calculator is quite easy. Because the calculator will help you to place an exact amount of bet at the betting exchange. This way, you will maximize the overall profit and minimize the initial loss regardless of the outcome. You can also use cricket betting rates and live betting rates in the calculator.
Many betting sites offer free online match betting calculators. The design may vary but they have the same working mechanism. Follow the below-mentioned instructions to use one:
Calculating qualifying bet
- Enter an amount under the ‘Back Stake’. Because it is the stake you place at the bookie.
- The ‘Back Odds’ indicate the odds of the bet that you have placed at the bookie.
- The ‘Back Commission’ box will mostly show 0% unless it’s a betting exchange. Because calculators may not show the ‘Back Commission’ at all.
- The ‘Lay Odds’ indicate the odds that you have placed at the betting exchange.
- Next, you will find ‘Lay Commission’ box. The value of the lay commission varies with each betting exchange. So, make sure to enter correct figure.
- Once you have filled in all the fields, the calculator will show you the results.
Calculating free bet
- Change the type of bet from ‘Normal’ to ‘Free Bet SNR’ (Stake Not Returned).
- Enter the values in the ‘Back Stake’, ‘Back Odds’, ‘Lay Odds’, and ‘Lay Commission’ boxes to get the result.
How to calculate a qualifying matched bet
If you want to dive into the math behind matched betting. We will help you to know how matched betting bets are calculated. A qualifying bet is essential when it comes to receiving a bookie’s bonus. So, let’s begin with the example. Say, you back Mumbai Indians to beat the Chennai Super Kings with the bookmaker at odds of 1.5, and you also lay Mumbai on a betting exchange for 1.8, at a lay commission of 5%.
- Ideal lay Stake
Lay Stake = back odds * back stake / (lay odds – commission).
So, let’s take an example.
Lay stake = 1.5*100 / (1.8-0.0.5) = 85.7 which will be 69.04 BDT. - If back bet wins
Profit = back stake * (back odd – 1) – lay stake * (lay odds -1).
In our example.
Profit = 100*(1.5-1) – 85.7 * (1.8-1) = -18.56 which will be -23.4 BDT. - If lay bet wins
profit = lay stake * (1-commission) – back stake.
In our example.
Profit = 85.7 * (1-0.05) – 100 = -18.58 which will be -23.07 BDT.
How to calculate a risk-free bet stake not returned matched bet
Once you place your risk-free qualifying bet you will receive your free bonus. So, now you will place a bet using the bonus offered by the bookmaker. We will again use the same example as above to show the calculations. But for this time, say the back odds are 5.0, and the lay odds are 5.2. The lay commission is 5%.
- Ideal lay stake
Lay Stake = (back odds – 1) / (lay odds – commission) * free bet size.
In our example.
Lay Stake = (5.0-1) / (5.2 – 0.05) * 100 = 77.67 which will be 96.42 BDT. - If the free bet wins
Profit = (back odds – 1) * free bet size – (lay odds – 1) * lay stake.
In our example.
Profit = (5-1) * 100 – (5.2-1) =73.79 which will be 91.61 BDT. - If the lay bet wins
Profit = lay Stake * (1-commission).
In our example.
Profit = 77.67 * (1-0.05) = 73.79 which will be 91.61 BDT. - Final Profit
Profit = lay stake * (1-commission).
In our example.
Profit = 77.67 * (1-0.05) =73.79 which will be 91.61 BDT.
How to calculate a risk-free bet stake returned matched bet
In this scenario, the bookmaker will return the Risk-free bet along with your winnings. To explain this let’s shuffle the odds a bit. Say, the back odds are 4.0 and the lay odds are 4.2. But the lay commission will remain the same. So, the calculation is as follows:
- Ideal lay Stake
Lay stake = (back odds * free bet value) / (lay odds – 1).
Calculation.
Lay Stake = (4.0*100) / (4.2-0.05) = 96.38 which will be 119.65 BDT. - If the free bet wins
Profit = free bet value * back odds – lay stake * (lay odds – 1).
Calculation.
Profit = 100*4.0 – 96.38 * (4.2-1) = 91.58 which will be 113.39 BDT. - If the lay bet wins
Profit = (1-commission) * lay stake.
Calculation.
Profit = (1-0.05) * 100 = 91.56 which will be 113.67 BDT. - Final Profit
Final profit = (1-commission) * lay stake.
Profit = (1-0.05) * 100 =91.56 which will be 113.67 BDT.
Conclusion
So, now you have all the information about calculating matching bets. This method is purely based on calculations, not on luck or chance. The calculation behind that is straightforward. Because you have to do is understand terms like back and lay bet, back odds, etc. So, this technique helps you to place multiple bets with assured profit, and you can use an online matched betting calculator to make your life easy. Because it will save you time by giving you results in seconds. So, always use the free calculators provided by betting sites to save time and avoid human errors.
