Are you familiar with the concept of matched betting? It’s a popular strategy for making risk-free profits from bookmakers’ free bets and promotions. However, to truly excel at this technique, you need to have the right tools at your disposal, and that’s where a matched betting calculator comes in.
This handy piece of software can help you calculate the exact amounts to bet and lay, ensuring that you lock in a profit no matter what the outcome of the event you’re betting on. Sometimes people refer to this as a sure bet. But how exactly do you use a matched betting calculator, and where can you find one?
In this guide, we’ll give you a complete rundown of everything you need to know about using a matched betting calculator, from the basics of how it works to more advanced features like dutching and lay betting.
What is matched betting?
Matched betting is a wagering technique that involves placing bets on all of the possible outcomes of an event to ensure a profit regardless of the result. This is done by taking advantage of free bets and promotions offered by bookmakers. The idea is to bet on both outcomes of a game or event and use the free bet as insurance to guarantee a profit.
For instance, imagine a bookmaker offers a free bet of $20 to new customers who deposit $10. A matched bettor can then use this free offer to place a $20 bet on one of the teams to win. Now they need to guarantee a betting profit.
This is different from a value bet. A value bet is one where the odds offered by the bookmaker are higher than the true probability of the event occurring. In other words, the odds are skewed in the punter’s favor. Consider checking our value bet calculator if you want to calculate the value of match odds.
The next step is to use a betting exchange to lay the same bet, which means betting against the same team to win. By doing this, you will cover all possible outcomes, and regardless of the result of the event, you will make a profit.
How does a matched betting calculator work?
A matched betting calculator is an essential tool that helps bettors calculate the amount to bet and the potential profit from a matched bet. It does this by taking into account several factors, such as the odds, the stake, and the commission rate charged by the betting exchange.
The calculator works by using a mathematical formula that calculates the amount to bet on with both the bookmaker and the betting exchange. It takes into account the odds offered by both and the commission charged by the exchange. By doing this, it provides the bettor with the exact amount to bet on each outcome and the potential profit they will make.
Different types of matched betting calculators
A basic matched betting calculator is the simplest type available. It is designed to calculate the optimal bets to place for a single event. The calculator takes into account the odds of the back bet, the odds of the lay bet, the stake of the back bet, and the commission charged by the betting exchange.
An advanced matched betting calculator is more complex and takes into account multiple variables, including free bets, bonuses, and promotions. The calculator can be used to calculate the optimal bets to place for multiple events and can factor in variables such as partial cash-out and in-play betting.
A dutching calculator is a specialized calculator used to calculate the optimal bets to place on multiple outcomes of an event. The calculator is often used in horse racing, where there are multiple runners in a race.
The dutching calculator takes into account the odds of each runner and calculates the optimal bets to place on each runner to ensure a profit regardless of the outcome.
Benefits of using a matched betting calculator
Using a matched betting calculator has several benefits for bettors. These include:
- Saves time – A matched betting calculator saves bettors time by automating the calculation process. Rather than spending hours manually calculating the amounts to bet, a calculator can do it within seconds.
- Accuracy – The calculator provides accurate calculations, reducing the risk of errors that could result in losses.
- Profit maximization – A matched betting calculator ensures that bettors maximize their profits by providing the exact amount to bet on each outcome.
- Easy to use – Matched betting calculators tend to be user-friendly and easy to use, making them accessible to everyone, even those with little betting experience.
How to use a matched betting calculator
Using a matched betting calculator is easy and straightforward. Here are the steps to follow:
- Choose an event – First, choose a sports event or game you want to bet on. Ensure that the event has free bets or promotions available to take advantage of.
- Select a bookmaker – Next, choose a bookmaker that offers free bets or promotions for the event you have chosen.
- Choose a betting exchange – Choose a betting exchange that offers the best odds for the opposite outcome of the bookmaker’s bet.
- Enter the details – Enter the odds, the stake, and the commission rate charged by the betting exchange into the calculator.
- Calculate – Click on the “Calculate” button, and the calculator will provide the exact amount to bet on both the bookmaker and the exchange and the potential profit.
- Place the bet – Finally, place the bets on both the bookmaker and the exchange as per the calculator’s instructions.
Most matched bet calculators are simple to use. They may have slight differences but the principle of using them is similar to the steps above. You should not find it difficult to use a matched betting calculator.
Different types of bets that a matched betting calculator can help you with
Here are some of the different types of bets that can be calculated using a matched betting calculator:
A back bet is the traditional type of bet where you place a wager on a particular outcome of an event. For example, a bettor might place a back bet on a football team to win a match. If the team wins, the bettor will receive a payout based on the odds of the bet.
A lay bet is the opposite of a back bet, where you will bet against a particular outcome of an event. For example, a bettor might place a lay bet on a football team not to win a match. If the team loses or draws, the bettor will receive a payout based on the odds of the bet.
A qualifying bet is a bet placed to qualify for a free bet or promotion. For example, a bookmaker might offer a free bet to new customers who place a qualifying bet. In this case, the matched betting calculator can be used to calculate the optimal amount to bet to ensure a profit regardless of the outcome.
Accumulator or parlay bet
An accumulator or parlay bet is one that combines multiple selections into one bet. For example, a bettor might place an accumulator bet on the outcomes of five football matches. If all five outcomes are correct, the bettor will receive a payout based on the odds of the bet. We’ve got you covered with our accumulator bet calculator.
In this case, the matched betting calculator can be used to calculate the optimal amount to bet to ensure a profit regardless of the outcome. The Yankee is a popular accumulator bet that is popular in the UK and across the world.
Factors to consider when choosing a matched betting calculator
When choosing a matched betting calculator, several factors need to be considered. These include:
- User-friendliness – The calculator should be easy to use and understand, even for beginners.
- Accuracy – The calculator should provide accurate calculations, reducing the risk of errors that could result in losses.
- Customization – The calculator should allow for customization of commission rates and other parameters to fit the user’s needs.
- Compatibility – The calculator should be compatible with multiple bookmakers and betting exchanges.
- Support – The calculator should have reliable customer support, in case of any issues.
- Price – The calculator should be reasonably priced or even free, as some calculators are available at no cost.
Limitations of a matched betting calculator
While matched betting calculators are useful tools for bettors, they have some limitations. These include:
- Human error – Despite the accuracy of the calculator, there is always a possibility of human error when placing bets.
- Changing odds – The calculator’s calculations are based on the odds at the time of the bet. If the odds change, the potential profit may be affected.
- Limited availability – Not all bookmakers and betting exchanges offer free bets and promotions, limiting the opportunities for matched betting.
- Limited profitability – While matched betting can be profitable, the profits may be limited, and it may not be a sustainable income source in the long run.
Other resources for matched betting advice
Matched betting calculators are not the only resource for matched betting advice. There are several other resources available that can help bettors maximize their profits. These include:
- Matched betting forums – Matched betting forums are online communities where bettors can share tips, strategies, and experiences with other bettors.
- Matched betting software – Matched betting software automates the matched betting process, making it faster and more efficient.
- Betting blogs – Betting blogs offer tips, strategies, and advice on sports betting and matched betting.
- YouTube channels – There are several YouTube channels dedicated to matched betting, offering tutorials, tips, and advice.
- Matched betting services – Matched betting services offer personalized advice and support to help bettors maximize their profits.
In conclusion, matched betting calculators are useful tools for bettors looking to make money from sports betting without taking any risks. When choosing a matched betting calculator, bettors should consider factors such as user-friendliness, accuracy, customization, compatibility, support, and price.
While matched betting calculators have limitations, they are just one of several resources available to help bettors maximize their profits. By combining these resources with careful research and sound betting strategies, bettors can turn matched betting into a profitable and sustainable income source.