Last updated in November 2020
Learn how to use a free matched betting calculator. If you are a beginner, matched betting can be overwhelming. There are lots of new terms to learn and concepts to understand. One thing every matched bettor has to learn is how to use a free matched betting calculator.
A free matched betting calculator refers to calculators that have basic functions and can be found online without a paid subscription. This post will show you where you can find these and how to use them.
This post contains affiliate links. Should you make a purchase or sign-up through my links, I will receive a commission at no extra cost to you.
Table of Contents
What is matched betting?
Matched betting is an easy way to earn extra money from home. It provides a tax-free income and only takes a couple of hours’ work. Despite the name, matched betting is not gambling.
If you are new to matched betting, read my simple matched betting guide first. My matched betting tips will help you if you are a beginner or intermediate matched bettor. If you are unfamiliar with any terms, read my matched betting glossary.
Be successful with a free matched betting calculator
Where to find free calculators
Free matched betting calculators are available from different websites:
OddsMonkey’s free calculator has the most functions so I recommend using it over the others. For underlays/overlays, you can use the MatchedBets calculator.
How to use a free matched betting calculator
Free calculators come with limited functions but you can use them to place basic bets, including:
- Trigger bets or qualifying bets
- Free bets not stake returned
- Free bets with stake returned
- Over- and underlays
- Part lays
You can use a free bet calculator to place ordinary trigger and free bets. Thus, you can make a profit from matched betting without paying fees to a matched betting service. However, you have to search for your own odds.
Once you have identified a suitable match, simply pop the values into the calculator:
Under bet type, you can choose whether you want to place a trigger or a free bet. This includes both free bets with and without stake returned. If you are unsure which one applies to you, use stake not returned.
- Back stake: Amount you are betting at the bookmaker
- Back odds: Odds at the bookmaker in decimal form
- Lay odds: Odds at the exchange (Smarkets or Betfair) in decimal form
- Back commission: This value should always be zero unless you place back bets at the exchange
- Lay commission: Enter “2” if you are using Smarkets or “5” if you are laying at Betfair
Part lay means that you are laying only a part of the bet. For example, you have backed £10 at the bookmaker but only £5 of this has matched at the exchange. This means you have £5 that are currently unlaid and at risk.
To do a part lay, enter your stake and back odds in the calculator above. Then, add the lays you have already in place under “1. Part lay stake” and the original odds at the exchange.
The calculator will then give you the amount you have to lay at the current odds (enter current odds in the main part of the calculator).
Risk-free bets are a type of matched betting offer in which you will get your stake back if your bet loses.
To use the risk-free calculator, enter your back and lay odds as normal. Then, in the third box, add the amount you are given if your bet loses. If you get your stake back as a free bet, leave the free bet retention at 80% (or 75% for bookmakers with poor odds). If you get your stake back as cash, enter 100%.
Over- and underlays
Over- and underlaying is an advanced matched betting technique that shifts the amount of money you make or lose depending on the outcome. For example, if you believe a certain outcome will happen, you can change the amount you lay so that you will make more money in case this outcome happens.
You can use a free matched betting calculator for this. However, if you are already using techniques on this level, you probably need a subscription.
Why a free matched betting calculator is not good enough
A free calculator enables you to make a profit from a bet. However, there are several reasons why your profit from a free calculator will always be limited:
- Searching for close odds manually is time consuming and will limit the number of bets you can place.
- You cannot complete all offers types with a free calculator. Common offers such as extra places, win-bonus offers, early payout offers, and many more require more advanced calculators.
- In addition to searching for odds, you also have to search for offers yourself. This limits your time even more.
- There is no support in case you get stuck.
For these reasons, you need a Profit Accumulator membership if you are serious about matched betting (full review). Profit Accumulator will pay for itself as you can take advantage of paying 0% commission at the exchanges (vs. 2% or 5% without Profit Accumulator).
In addition, you can place 50 times more bets on any given day with Profit Accumulator compared to no membership. This is because placing a bet only takes to seconds as you do not have to search for offers or close odds.
Get your free trial of Profit Accumulator here and make around £30 for free.
Free matched betting calculator summary
Free matched betting calculators are sufficient to be successful at matched betting. They enable you to place ordinary bets and make a profit from matched betting.
However, their functions are limited and they do not include all methods to make a profit. Furthermore, manually searching for odds is tedious and only realistic if you aim to make a small amount from matched betting.
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