Matched Betting is a technique used to turn free bets offered by bookmakers into real cash. By covering all outcomes (Backing at the bookie, Laying at the exchange), you can guarantee a profit regardless of the result.
This calculator handles the math for both stages of the process: the Qualifying Bet (to unlock the bonus) and the Free Bet (to extract the profit).
How to Use This Calculator
Select the mode that matches your current step:
1. Qualifying Bet (Normal)
Use this when betting your own money to unlock a bonus. The goal is to lose as little as possible (Minimize “Qualifying Loss”).
- Back Stake: Your bet at the bookie.
- Result: The calculator tells you the Lay stake to place at the exchange to break even (minus a small commission cost).
2. Free Bet (SNR – Stake Not Returned)
Use this when using a free bet token. Unlike cash bets, the bookie does not give you the free bet stake back if you win—only the profit.
- Strategy: Use high odds (e.g., 5.0 or higher) to maximize profit retention.
- Result: The calculator adjusts the math to lock in ~70-80% of the free bet value as cash.
Frequently Asked Questions (FAQ)
What is SNR?
SNR stands for “Stake Not Returned.” Most free bets are SNR. If you place a $10 Free Bet on a horse at odds of 3.0, you get back $20 profit, not $30 total. Our calculator accounts for this deduction automatically.
Why do I need an Exchange?
To guarantee a result, you must bet against your selection (Lay betting). Traditional bookmakers don’t allow this; only Betting Exchanges (like Betfair, Smarkets, or Matchbook) allow you to act as the house and lay bets.