The advent of matched betting software means that we can now make money from matched betting without doing any sums.

And I’ve listed my top 5 tools for making matched betting easier at the end of this post.

Because when I started doing matched betting many years ago – I had to rely on doing things by hand.

Which was super tedious.

However, if you’re trying to build your own matched betting calculator or spreadsheet.

Or if you’re still trying to work out if matched betting is a scam or not.

The matched betting formulas below may be of some help.

Enjoy!

The Basic Matched Betting Formulas

Below are the three sets of matched betting formulas that cover the basic matched betting process.

I’ve not included the formulas for partial-laying, under/over laying, or sequential laying.

Nor have I included the correct EV formulas for the high yield casino offers.

As these are all much more complex.

And are best implemented via dedicated software to reduce the chance of making a mistake.

I’ve included a list of such tools at the end of the post.

1: Qualifying Bet Formulas

These formulas will allow you to calculate the ideal lay stake required to hedge a bookmaker bet being placed with your own money for an even profit/loss.

1.1: Return if the Back Bet Wins

This formula sums the profit from your bookmaker bet minus your exchange liability:

Return = (back odds – 1) x back stake – (lay odds – 1) x lay stake

1.2: Return if the Lay Bet Wins

This formula sums the return from your winning lay bet, minus the commission, minus your lost bookmaker stake.

Return = (- back stake) + lay stake x (1 – commission)

1.3: How to Calculate the Ideal Lay Stake for an Even Return

Here you take the potential return of your bookmaker bet and divide it by the lay odds minus the commission rate.

Lay stake = back odds/(lay odds – commission) x back stake

1.4: How to Calculate the Final Return

This is either the sum of your winning lay stake minus the commission, minus your lost bookmaker stake – or your bookmaker winnings minus your lost exchange liability.

Final return = (- back stake) + lay stake x (1 – commission)


2: SNR Free Bet Formulas

These formulas will allow you to calculate the ideal lay stake required to hedge a bookmaker bet being placed with a free bet that is NOT returned with any winnings.

2.1: Profit if the Free Bet Wins

This is the sum of the profit potential of the free bet minus the exchange liability.

Profit = (back odds – 1) x free bet size – (lay odds – 1) x lay stake

2.2: Profit if the Lay Bet Wins

This is just equal to the sum of your winning lay bet minus the commission because the free bet was not your own money and therefore does not count as a loss.

Profit = lay stake x (1 – commission)

2.3: How to Calculate the Ideal Lay Stake for an Even Profit

This is the profit potential from the free bet divided by the lay odds minus the commission rate.

Lay stake = (back odds – 1)/(lay odds – commission) x free bet size

2.4: How to Calculate the Final Profit

Effectively, this is the same as your lay bet minus the commission.

Final profit = lay stake x (1 – commission)


3: SR Free Bet Formulas

These formulas will allow you to calculate the ideal lay stake required to hedge a bookmaker bet being placed with a free bet that IS returned with any winnings.

3.1: Profit if the Free Bet Wins

This is your profit from the free bet, plus the free bet, minus your exchange liability.

Profit = Back odds x free bet size – (lay odds – 1) x lay stake

3.2: Profit if the Lay Bet Wins

This is just equal to the sum of your winning lay bet minus the commission because the free bet was not your own money and therefore does not count as a loss.

Profit = Lay stake x (1 – commission)

3.3: How to Calculate the Ideal Lay Stake for an Even Profit

This is the profit potential from the free bet, plus the free bet, divided by the lay odds minus the commission rate.

Lay stake = (back odds)/(lay odds – commission) x free bet size

3.4: How to Calculate the Final Profit

Effectively, this is the same as your lay bet minus the commission.

Final profit = lay stake x (1 – commission)


5 Awesome Matched Betting Tools – Make More Money in Less Time

Like I said.

There are plenty of matched betting calculators, tools, and software available to help you make money from matched betting without having to tax a single brain cell.

Here’s a list of the ones that I currently use.

1: Integrated Matched Betting Calculator

Pretty much every single matched betting platform has its own matched betting calculator.

You can even find them for free online.

But I like to use matched betting calculators that are integrated directly into the odds matching software, like this:

Profit Maximiser Matched Betting Calculator


Because not only does this remove the need for solving any long-winded mathematical formulas.

The software also ensures that I’m getting the best odds-matches on my matched bets.

This increases the retention rate.

Thus helping me make the most amount of money from my free bets.

My personal odds-matcher and calculator combination of choice is the PM Matched Betting Software.

2: Sequential Lay Calculator

Being able to sequentially lay off each leg of your accumulator bet is a powerful ability.

Because it allows you to position yourself to claim the bookmakers’ accumulator insurance refunds for no risk.

I use the sequential lay calculator that comes with the Accumulator Generator package to do this:

Accumulator Generator Sequential Lay Calculator

3: Place-Market Arbitrage Calculator

Once you’re ready to start making money without relying on the bookmakers’ free bets.

You’ll want to turn your attention to each-way arbitrage betting.

And in order to secure a profit from every bet.

You’ll need to be able to lay off both the win and the place parts of your each-way bet separately.

The each-way arbitrage calculator that comes with Each Way Sniper will do this:

Each Way Sniper Lay Bet Calculator Example

4: Extra-Places Calculator

The golf extra-places strategy is a great way to secure a possible double-payout for no risk.

And it works on horse racing too.

But you’ll want to avoid taking poor odds matches because this will result in too big of a qualifying loss.

To get around this, I use the Each Way Sniper extra-places software and integrated calculators to help me break even in the worst case scenario:

Extra Place Golf Payout Profit

5: Monte Carlo EV Simulator

With the exception of Profit Maximiser and Profit Squad.

The rest of the matched betting platforms aren’t using the correct EV calculations for working out the true value of a casino bonus.

This is the ‘traditional’ casino EV formula:

EV = bonus – (wagering requirements x house edge)


This formula is too simplistic.

Because it doesn’t take into consideration what happens when a sample of the users doing a casino offer don’t complete all of the wagering requirements due to going bust.

This means that a lot of value is being missed.

To correctly work out the EV of a casino bonus, I use the EV Maximiser Monte Carlo simulator:

EV Maximiser Monte Carlo Simulator


Click the button below to read my Betting Mastermind Review to learn more about EV Maximiser.

And discover how additional tools like the Bookie Blowout Software could help you make even more money from your matched betting.

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