What does the calculator do?
We all love a calculator to help us with those tricky sums and matched bettors are no exception. Although working out your matched betting calculations is not that tricky, it would take quite a bit of time if you wanted to complete a lot of offers. And it’s the number of offers that we complete that is important because that means more of a profitable risk free income.
The Matchedbet calculator is below. You will see that you can easily select your bet type (normal, Stake not returned (SNR), Stake returned (SR)), put in your back stake and back odds and then your lay (exchange) odds.
The calculator will then work out and show you exactly what your lay stake at the exchange should be and also show you the most important part - your guaranteed risk free profit.
Step by step on how to use the calculator
Enter the following information:
Bet type – whether it is a free bet, SNR (stake not returned) or SR (stake returned).
Back odds - Your stake amount at the bookmaker (in decimal format).
Back Commission (bookmaker) - This will almost always be 0%.
Lay Odds - The odds (in decimal format) being offered by the betting exchange.
Lay Commission (betting exchange) - The commission payable to the betting exchange on winning bets. At BetFair the commission is 5%.
The calculator will work out the optimum lay stake to place at the Betting Exchange, and what your profit will be. If this is a qualifying bet the profit should be as close to 0 as possible. If it is a free bet you should be trying to get as close to the bet amount as possible.
The calculator enables you therefore to work out which odds matches are the best. You might think that a high percentage rating but with low odds on the oddsmatcher (automatcher) would equal more profit but sometimes a selection with a lower percentage rating but with higher odds would actually be more profitable if you have enough to cover the liability at the exchange.
This is why it’s so crucial for anyone who wants to earn a second income matched betting to use the calculator because just by playing around and trying out a few different selections in the calculator, you will be able to see the different profits that are projected – this can be the difference in the profits gained.