1. What is Matched Betting?

Matched betting is a method to profit from free bet promotions offered by bookmakers. By placing a back bet with a bookmaker and a lay bet against the same outcome at a betting exchange, you can lock in a profit from the free bet.

2. How the Calculator Works

The calculator uses the OddsMonkey profit formula:

Where:

• \( free\_bet \) — Value of the bookmaker's free bet offer
• \( back\_odds \) — Decimal odds at the bookmaker
• \( lay\_stake \) — Amount bet at the exchange
• \( commission \) — Exchange commission rate (as decimal)

Explanation: The formula calculates the expected profit from a free bet after accounting for the exchange commission on the lay bet.

3. Importance of Profit Calculation

Details: Accurate profit calculation helps matched bettors determine which offers are worth pursuing and how to optimally use their free bets for maximum profit.

4. Using the Calculator

Tips: Enter the free bet amount in your currency, the back odds in decimal format, your planned lay stake, and your exchange's commission rate. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What's a typical profit from a free bet?
A: Typically 70-85% of the free bet value after commission, depending on the odds and exchange rates.

Q2: Why do I need to account for commission?
A: Betting exchanges charge commission on net winnings, which affects your overall profit.

Q3: What are optimal back odds for free bets?
A: Higher odds (5.0+) generally yield better returns on free bets since you keep more of the potential winnings.

Q4: Can I use this for qualifying bets?
A: This calculator is designed for free bets. Qualifying bets use a different calculation to minimize loss.

Q5: Is matched betting risk-free?
A: When done correctly with proper calculations, the risk is minimal, but human error or rule changes can affect outcomes.