A “Free Bet” in your sportsbook account is not cash—yet. If you bet it and lose, you get nothing. If you bet it and win, you only get the winnings, not the stake. This uncertainty is what casinos count on.
Matched Betting eliminates this risk. By placing a “Back” bet at the sportsbook and a “Lay” bet (betting against the outcome) at a betting exchange, you can convert that free bet into guaranteed withdrawable cash, regardless of the match result. Our Free Bet Calculator handles the complex “Stake Not Returned” (SNR) math instantly, telling you exactly how much to lay to maximize your profit.
Free Bet Calculator
Exchange ModeHow to Use the Calculator
This tool is designed for the “Exchange Method” of matched betting, which offers the highest profit margins (typically 75-80% retention). Here is your workflow:
- Select the Mode:
- SNR (Stake Not Returned): Choose this for 99% of free bets (e.g., “Bet $10, Get $10 Free Bet”). If the bet wins, the bookie keeps the $10 stake.
- SR (Stake Returned): Choose this for cash bonuses or “money-back” offers where the stake is returned with winnings.
- Enter Bookmaker Details (Back):
- Input the value of your Free Bet.
- Input the Back Odds (the high odds you are betting on).
- Enter Exchange Details (Lay):
- Input the Lay Odds from your exchange (e.g., Betfair, Matchbook).
- Input the Commission %. This is crucial—forgetting the 2-5% commission will result in a calculation error and lost money.
- Place Your Bets:
- The “Lay Stake” is the exact amount you must enter into the exchange.
- The “Guaranteed Profit” is how much you will make, no matter who wins the game.
SNR vs. SR: What is the Difference?
Understanding these two terms is the difference between a profitable hedge and a mathematical error.
1. SNR (Stake Not Returned)
This is the standard format for “Free Bet” tokens. Because you don’t get the stake back, the value of the bet is lower. The math requires you to bet on high odds (4.00+) to extract value.
Formula: You lay less than the face value of the bet.
2. SR (Stake Returned)
This applies to cash bonuses with rollover requirements. Since the stake acts like real cash, the value is higher. You can bet on lower odds and still retain 95%+ of the value.
Formula: You lay roughly the same amount as the face value of the bet.
Real-World Examples: Maximizing Retention
To get the most out of a free bet, you must choose the right odds. Low odds kill the value of SNR bets.
Example 1: The Perfect SNR Extraction (High Odds)
You have a $50 Free Bet (SNR). You bet on a Draw at odds of 5.00. The Exchange Lay odds are 5.20 with 2% commission.
- Lay Stake: The calculator tells you to lay $38.31.
- Liability: You need $160.92 in your exchange account to cover the risk.
- Profit: You make $37.55 guaranteed.
- Retention: 75.1% (Excellent).
Example 2: The “Low Odds” Mistake
You use the same $50 Free Bet on a favorite at odds of 1.50. The Exchange Lay odds are 1.55.
- Lay Stake: You only lay $16.45.
- Profit: You make roughly $16.12.
- Retention: ~32% (Terrible).
- Lesson: Always use SNR Free Bets on odds of 4.00 (+300) or higher to maximize the conversion rate.
Frequently Asked Questions (FAQ)
What is “Liability” on the exchange?
Liability is the money you risk losing on the betting exchange if the bookmaker bet wins. It is “locked” funds. For example, if you are converting a $50 free bet at high odds, you might need $150+ in liability available in your exchange account. Don’t worry—if you lose the liability, you win the bet at the bookmaker, balancing it out.
Why is my retention rate low?
In SNR mode, retention is mathematically linked to the odds. Low odds (e.g., 2.0 or lower) result in poor retention (under 50%). To get 75-80% retention, you must bet on outcomes with higher odds (typically 5.0 or higher) and tight spreads between the Back and Lay odds.
Can I use this without a betting exchange?
No. This calculator is specifically for Back/Lay betting. If you want to hedge using a second sportsbook (e.g., betting on Player A at DraftKings and Player B at FanDuel), please use our Dutching SNR Calculator instead.