First of all, what is matched betting?
Alpha Sports Betting have already posted a full blown article on what exactly is matched betting, but for the purposes of this article we will do a brief recap:
Normally whenever we hear of something that ‘guarantees profits’ or is ‘risk-free’, we would be very sceptic about the proposal. For this concept, I strongly suggest you reduce your scepticism and hear it out.
Match Betting isn’t gambling as all outcomes all are covered. The profits are then made through taking advantage of the several promotional betting offers and bonuses bookmakers have to offer.
This is where the matched betting calculator comes in as it may have sounded simple in the above lines, this process actually proves to be too tedious and complicated for the average punter; What is a matched betting calculator you may ask?
The role of the matched betting calculator is to automate this process through an online application which will make matched betting an activity for everyone, but first let’s understand the basics about matched betting in general.
All the bets are processed through a betting exchange, which gives us the power to cover all the outcomes and still make a guaranteed profit as the lay function covers all outcomes against something happening.
For those of you not familiar with betting exchange here are the must-knows of the platform:
What is Lay Betting?
Lay betting is the process of placing a stake against an outcome happening. For example; I lay a bet on Arsenal will not beat Chelsea. Therefore, If Arsenal lose or come draw, I win my bet.
What is Back Betting?
Back betting is the process of placing a stake in favour of an outcome happening. For example; I back a bet on Arsenal beating Chelsea. Therefore, if Arsenal win, I win my bet.
How are odds set in Exchange?
Odds in Exchange are set by the users themselves, the bookie makes his money off transaction fees. The bet is once placed once there is a layer and back for the same bet for the same odds.
Why we use decimal odds not fractional?
Decimal odds are used as it easier to process at first glance. Although this might not sound like a big deal, with all the figures you will be dealing with, you will be thankful for any reduction in headache.
Now that we have understood the fundamentals in matched betting, we can now move on to this article’s purpose.
What Is A Matched Betting Calculator And How To Use It
A matched betting calculator is a tool that does the dirty work for us users. It calculates exactly how much we would need to bet I order to make our bet risk-free.
By inputting all relevant values involved in an exchange transaction which are Back stake, Back odds, Lay odds and Lay commission, the matched betting calculator tells you how much to perfectly balance your bets to cover all outcomes while still making a profit.
The time you receive your profit is when the free bet comes in.
A Step By Step Guide To How To Use A Matched Betting Calculator
To use a matched betting calculator, you will need to things; an account on a betting exchange platform and have already qualified for a free bet offer with any platform.
There are several free bet offers offered by betting sites on creation of account, find which best suits you.
The first stage of the process is to place the details of your bet in the calculator. Format of matched betting calculators differ per site but all include entering the stake and odds of your free bet.
Once you have decided on your bet, go to the exchange platform and lay against the outcome you initially betted on. Set the odds to ensure and overall profit no matter the result.
Remember that the exchange charges commission so remember to factor that into your calculations. Commissions can be up to 5%.
Using the data above, the calculator will calculate to how much you will need to lay against your free bet to make an overall profit.
If you're already experienced with match betting calculators, you can see how to further boost your income with matched betting here.
The Top 3 Matched Betting Calculators Available Online
Save The Student
This is a matched betting calculator for beginners and I strongly recommend this platform as it is very easy to use and understand. It offers a very clear list of qualifying bets and offers step by step instruction of where to go.
See Save The Student here.
Matched Betting Blog
Although Matched Betting Blog is more complicated than Save The Student, it is my personal favourite and one that I regularly use. I like the fact that it automatically calculates figures rather than having to press calculate constantly.
Also offers three different modes; qualifying bets, free bets and risk-free bet. Find this particularly useful as it helps users work in a systematic manner.
OddsMonkey’s matched betting calculator is used on several website and is therefore more of an established matched betting calculator. This calculator is more suited to users who are experienced with matched betting as it is not as straightforward.
You now even have to create an account to gain access to the service.
After reading this article, you should have a basic understanding of what is matched betting and a betting exchange, what is a matched betting calculator and how to make use of one.
The three matched betting calculators I mentioned offer different strengths to different types of users, it is up to you to experiment and find which one works best for you.
Matched betting is the first of its kind in terms of the profits it can produce at no risk whatsoever as unbelievable as that sounds. Matched betting could prove to be an enjoyable source of passive income for anyone.
The only failures that can potentially happen are through human error, so make sure you are thorough with your research and fully understand the betting terms you are complying with.
Thanks for reading, see you on the next one.