How to Use Matched Bet Calculator
We can say with the upmost certainty that you may never have used – perhaps even encountered – this type of betting calculator before. But don’t stress because we’re happy to walk you through how to use it, to the point where you’re in a position to formulate your own esports matched betting strategy.
Our matched betting calculator is here to help you calculate the “back” bets and “lay” bets required to guarantee a profit from your matched esports bets. We’ll talk around these terms a little more later in the guide, but for now, let’s stick with showing you exactly how our matched bet calculator works.
Much like we did when explaining our
arbitrage betting calculator, we’ve covered what the key inputs mean right here…
- Bet type:
First up, you’ll need to select the type of matched bet you’re looking to place; this will vary depending on where you’re up to in the matched betting cycle. For instance, if you’re looking to qualify for a free bet offer with a new esports bookmaker, you’ll need to select “qualifying bet”. If you’re making use of the free bet credit you’ve already earned, select “free bet”.
- Back bet:
Here, you’ll need to input the decimal odds of the bet you want to place with your esports bookmaker. Simply find the odds that catch your eye and input these directly into our matched bet calculator in decimal format, along with your back bet stake amount.
- Lay bet:
The lay bet section of our matched betting calculator is where you’ll input the odds for your “lay” bet. You’ll need to use a betting exchange to find these odds, as you’ll effectively be betting against the outcome of your bookmaker bet. As when inputting your back bet odds, use the decimal format and include the commission fee imposed by the betting exchange too.
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How About the Outcomes?
The basic premise of using a matched bet calculator is to make sure that the “back” bet you’re placing with a bookmaker and the “lay” bet you’re placing on a betting exchange cancel each other out and leave you in the black. Remember: matched betting isn’t about luck but about selecting the right opposing odds so that you’re always guaranteed to make a profit.
With that in mind, the main outcome of using a matched bets calculator is total profit. You want to find out that placing these two bets won’t put you at risk of losing money, but will instead make you a profit – however small that may be.
5 Steps for Using our Matched Bet Calculator
- Step 1: Select your bet type from the three options available: qualifying bet, free bet, or money back if bet loses.
- Step 2: Add your back stake amount followed by your back bet odds; you should copy these straight from your bookmaker’s site and input them in decimal format.
- Step 3: Next, add your lay bet odds in decimal format along with the commission fee charged by your betting exchange.
- Step 4: Hit calculate.
- Step 5: Review the total profit that you should earn by placing these two back and lay bets.
Example: Our Matched Bet Calculator in Action
There’s a lot to take in here, so it’s useful to see how our matched betting calculator works in the real world. Once you’ve seen it used within the context of esports wagering, you can add it to your arsenal of gambling tools alongside our
fair odds calculator.
Let’s say you want to qualify for a $30 free bet by signing up at BC.Game. In the T&Cs, you discover that the minimum qualifying bet for this bonus is $5 at minimum odds of 1.50.
OK, so fast-forwarding a little, you’ve found odds of 1.50 for Shark Esports to win a Counter-Strike round against rivals Bounty Hunters. Remember, you’ll need to place a minimum $5 bet to qualify for the $30 free bet offer, so lock in your $5 back bet at odds of 1.50.
With your back bet locked in, hit up your betting exchange to find suitable lay bet odds for Shark Esports to lose or draw. You’re looking for lay bet odds around 1.50, so that your back bet and lay bet effectively cancel each other out. You find odds of 1.58 – that’s close enough, although you will make a very slight loss (no matter when you’re qualifying for a $30 free bet, though).
Calculating your total profit
Using our matched bet calculator, add your back bet odds and lay bet odds along with an initial $5 stake. Your outcomes should be:
| Outcome | Bookmaker | Betting exchange | Profit/loss |
| Shark Esports win | + $2.50 | -$2.76 | -$0.26 |
| Shark Esports lose or draw | -$5.00 | + $4.75 | -$0.25 |
Sure – you’ve made a slight loss with this example, but don’t forget that you’ve also just qualified for a $30 free bet, which you can then use in a very similar way. However, this time around, you should go for higher odds to maximize your potential profit – after all, you’ve now got nothing to lose.
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Matched Betting Explained
For the uninitiated, matched betting can seem pretty head-scratching. But once you know what it is and how it works, we guarantee you’ll be a convert.
What is matched betting?
Matched betting is when you place opposing wagers to cover different outcomes of a match. Used alongside free bet bonuses, you can qualify for free bet credit that you can use to make a fixed profit.
You don’t need to be good at gambling or know tons about esports to get into matched betting. It all comes down to mathematics and selecting the right “back” and “lay” bets to ensure you turn a consistent profit on your selected matched bets.
What is a betting exchange?
A betting exchange is an opposing party to a bookmaker used for matched betting. This is where you’ll place your “lay” bet, which covers the opposing outcomes of the “back” bet you locked in with your esports bookie.
You’ll need to register with a betting exchange just like you do when joining a betting site. Note, too, that these exchanges charge a commission per lay bet placed, which is why we’ve added this to our matched bet calculator to compensate.
Why is a matched bet calculator useful?
We would have thought the benefits of using a matched betting calculator were obvious, but if you need further clarification, here are the key advantages of using our matched bets calculator in a nutshell…
- It allows you to see the total profit you can make from placing a matched bet.
- It helps you to understand how matched betting works.
- It can be used for different types of matched bets, including qualifying bets, free bets, or money back if the bet loses wagers.
- It simplifies the entire matched betting process, helping you quickly calculate how much to spend on a lay bet.
- It’s a legal way to put matched betting work for your esports gambling strategy.
What other betting calculators are available?
From our matched betting tool to our
Kelly Criterion betting calculator
– we have over 15 different online
betting calculators
that can help you create and devise your dream esports betting strategy. Take your pick from our useful esports betting tools below.
We hope you enjoy our matched betting calculator
On paper, matched betting can sound a little intimidating. But once you’ve learned the basics and have found a reliable matched bets calculator you can rely on, you’ll be well on your way to becoming a matched wagers whizz-kid.
Before delving into matched betting, we definitely recommend studying up on how it works, as well as researching whether any reputable betting exchanges are available where you live. Be sure to check out some of our other matched betting guides and resources here on the Strafe site, along with our recommendations on the best esports bookmakers and their latest free bet promotions.
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Matched Bet Calculator FAQs
❓ Is it legal to use a matched betting calculator?
There is nothing to stop you from using a calculator to research matched bets. However, you should check that esports betting and betting exchanges are legal where you live.
💰 How much money can I make through esports matched betting?
That depends entirely on how much you’re willing to wager and the free bet deals you come across.
🤔 Does matched betting work for esports?
Sure it does! You can place matched bets on esports like any other sports, provided the odds are available through bookmakers and betting exchanges.
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