How to use it
- Pick the bet typeQualifying bet (your own money), free bet with stake not returned, or free bet with stake returned.
- Enter the back betStake and decimal odds at the bookmaker.
- Enter the lay sideThe lay odds at the exchange and its commission on winnings.
- Place the lay stake shownYour liability is what the exchange holds from your balance.
The formulas
Qualifying bet: lay stake = back stake × back odds ÷ (lay odds minus commission). Free bet SNR: lay stake = free bet × (back odds minus 1) ÷ (lay odds minus commission). Liability = lay stake × (lay odds minus 1).
Two worked examples
| Case | Lay stake | Liability | Result either way |
|---|---|---|---|
| ₦1,000 qualifying bet, back 3.00, lay 3.10, 5% | ₦983.61 | ₦2,065.57 | minus ₦65.57 |
| ₦1,000 SNR free bet, back 5.00, lay 5.20, 5% | ₦776.70 | ₦3,262.14 | plus ₦737.86 |
The qualifying bet costs a little; the free bet turns about 74% of its face value into cash, whichever side wins.
Matched betting needs access to a betting exchange and enough balance for the liability. Bookmakers may limit accounts that only take offers. Read our matched betting guide before you start.
Matched betting calculator FAQ
What is a qualifying loss?
The small amount you lose on the qualifying bet because back and lay odds are rarely equal and the exchange takes commission.
Why should the lay odds be close to the back odds?
The closer they are, the smaller the qualifying loss and the more of a free bet you keep.
What is liability?
The amount you must pay out if the selection you laid wins. The exchange holds it until the bet settles.
Can I underlay or overlay?
Yes, some people lay less or more to tilt the result one way. The calculator shows the balanced lay; changing it means the result is no longer equal.