How to Use Matched Betting Calculator
Sports betting is uncertain by nature, with results being almost impossible to predict. This doesn’t stop the hobby from being enjoyable for many people; however, it does mean that sports betting is very risky, with losses being almost guaranteed at some point.
Matched betting, however, offers a different approach, providing bettors with a much more low-risk alternative. Matched betting uses mathematical calculations and does not include prediction or uncertainty. Matched betting is a go-to for many sports betting fans; however, it can be very complex for both newcomers and experienced matched bettors alike. This is where a matched betting calculator comes in, as they are useful tools that lower the barrier to entry of matched betting and make the whole process much easier. In this article we aim to explain what these tools are and how they can be used for any interested bettors.
What is Matched Betting
Matched betting is a strategic approach to betting that allows individuals to lock in profits through leveraging free bet promotions offered by bookmakers. While traditional gambling involves risking money to potentially win more, matched betting relies on a mathematical method to ensure that your bet is successful regardless of the outcome.
The concept revolves around placing two opposing bets, a back bet and a lay bet. A back bet is where you bet for an outcome, like a team to win, and a lay bet is where you bet against an outcome like a team to lose or draw. This is done to cover all possible outcomes of an event, ensuring that the bettor will neither win nor lose money, regardless of the result. The key to matched betting lies in taking advantage of free bets offered by bookmakers, which serve as the primary source of profit.
How to Perform Matched Betting
- Identify a Free Bet Promotion: Start by finding a suitable free bet promotion from a bookmaker.
- Place a Back Bet: Use the bookmaker’s platform to place a bet (back bet) on a specific outcome.
- Place a Lay Bet: Use a betting exchange to place a bet (lay bet) against the same outcome.
- Calculate Stakes: Carefully calculate the stakes for both the back and lay bets to ensure you minimize losses and qualify for the free bet.
- Receive Free Bet: Once the initial bets are settled, you should receive the free bet from the bookmaker. Bookmakers often offer free bets to attract new customers or retain existing ones. These promotions are usually tied to specific conditions, such as placing an initial bet of a certain amount. Once you meet the conditions of the promotion (e.g., placing a qualifying bet with your own money), the bookmaker credits your account with a free bet, which you can use to place further bets without risking your own money
- Repeat Process with Free Bet: Use the free bet to place another set of back and lay bets. This time, because you are using the bookmaker’s money, any profit from the free bet is yours to keep.
If you perform matched betting correctly with your own money, the initial result should be a break-even or minimal loss. When using a £10 free bet, the profit from the matched betting process would be approximately £10, assuming the calculations are done correctly.
What Are Matched Betting Calculators
Matched betting calculators are essential tools for matched betting. These online calculators simplify the process of determining the optimal stakes to place on both the back and lay bets. By inputting key information such as stake amount, odds for both the back and lay bets, and relevant commission fees, users can quickly calculate the ideal amount in place for their matched bet.
The calculators perform complex mathematical calculations behind the scenes, accounting for various factors such as the size of the free bet, the odds offered by the bookmakers and the betting exchange, and any potential liabilities associated with the lay bet.
Furthermore, matched betting calculators often provide additional features, such as built-in profit trackers, which help users keep track of their overall profitability and manage their betting activities more effectively. Some calculators may also offer advanced functionalities, such as Dutching calculators, which enable users to spread their bets across multiple outcomes to lock in profits across different markets.
Why are Matched Betting Calculators Useful
Matched betting is a complex strategy, especially for beginners, that does get easier with time; however, even experienced matched bettors will need to take time to work out complex mathematical equations in order to ensure they are not going to make a mistake and lose money. This is where matched betting calculators come in, as they can automate the calculator process, reducing the amount of time it takes to engage in matched betting and reducing errors.
On top of this, as it allows bettors to place more precise bets more quickly. Additionally, due to the optimal stakes betting places, thanks to their calculations, profits will be maximised for each bet.
How to Use These Tools
In order to use a matched betting calculator, bettors must first enter the details of the bet offer they intend to take advantage of. This typically includes stake amount, odds, and the betting exchange odds. Once all the necessary information has been entered, bettors can calculate the optimal amounts to stake on both the back and lay bet.
After the calculator has performed the calculations, review the results it presents. Typically, bettors will see the suggested stake amounts for both the back and lay bets, as well as the potential profit you can expect to make from the bet. If you are not satisfied with the initial results or want to explore different scenarios, then you can adjust various parameters to see how they will affect the overall bet.
Once bettors are happy with the calculated stakes and potential profit, it’s time to place the bets. After your bets are placed, you can use the matched betting calculator to keep track of your profits. Some matched betting calculators have built-in profit trackers, while others may require manual input of the outcomes and winnings.
Summary
Matched betting calculators are essential tools for anyone navigating the world of sports betting. They streamline the process, mitigate risks, and much more. If you are going to get involved with matched betting, then we highly recommend these tools, as they make this complex strategy more simple and enjoyable.