Getting the most out of a match bet calculator
April 16, 2017
Getting the most out of a match bet calculator should not be as hard as some make it out to be. Don’t be deterred by the numbers, percentages and terms you are not familiar with, as here I will help guide you into utilising a match bet calculator.
Firstly, what is a match bet calculator? Simply put, a match bet calculator makes a doddle of all those troublesome number problems you so wish to avoid when matched betting. No more taking notes on a scrap piece of paper or Word document. No more grabbing for the nearest calculator, whether it be one collecting dust from your desk draw or even the one on your phone. To get the most out of a match bet calculator is to understand what it is, and what it can do.
A match bet calculator uses mathematical formulas to determine exactly how much to lay to ensure the same outcome no matter what the results. It keeps your qualifying costs to a minimum and maximises the profits from your free bets. A match bet calculator is usually made up of around five segments: Bet Type, Bet Stake, Odds (Back), Odds (Lay), Lay Commission.
To explain how to get the most out of a match bet calculator, I will use the example of the offer ‘Bet £10 and get a free £10 bet’.
Bet type is exactly what it says on the tin: the type of bet you wish to place. This is normally selected on ‘Normal Bet’ or ‘Qualifier,’ which is the bet you need to place in order to gain your free bet incentives from the bookies. Other options include ‘Freebet’ or Free Bet SNR’, which you will also need to use.
The second is bet stake, so in this scenario it is £10. Thirdly, the odds. I’ve broken them up into two segments. Odds (Back) and Odds (Lay). Backed bets are a normal bet, say Everton to beat Hull City. The lay bet is betting against that happening – Everton not to win. In this part of the calculator you would add the odds, for example 2.00 on an Everton win at the bookies, and 2.02 on your betting exchange account.
Let’s not forget the ever-important lay commission. This is the percentage taken from the betting exchange establishments. This is pretty much between 2.00-5.00%, but do check for the one you use. I’ll use Betfair as the example, who use 5.00%. Having added all that in, you now get the most out of a match bet calculator automatically or by pressing ‘Calculate’ or ‘Refresh’ in older versions of the software. You now know the exact amount to lay bet: £10.15.
Changing the bet then to ‘Freebet’ or ‘Free Bet SNR’ and entering the relevant odds for another sporting event, usually odds of 5.00-10.00 to maximise profit, it will calculate the ideal amount for your lay bet. Let’s say the odds at the bookies and betting exchange are both 5.00, meaning you need to lay £8.881. The calculator determines you will profit £8.33, whatever the outcome.
That is matched betting and my guide to getting the most out of a match bet calculator. Now go make profits, and never be wary of numbers again.