The matched betting calculator or ‘free bet calculator’ as some call it is without a shadow of a doubt the number 1 tool in a matched bettor’s arsenal. The calculator can be used for a normal bet or for a free bet. Simply enter the figures and the free bet calculator does all the work for you. It tells you exactly how much to Back and how much to Lay. Keep it in simple mode for all your risk free betting needs, but if you’re a pro at this, you can use the advanced calculator from the drop down under ‘Mode’. In this mode you have a slider, where you can ‘underlay’ or ‘overlay’.

Matched betting is simply turning a free bet from the bookmaker into real money in your pocket. There is no risk involved because you ‘back’ (bet for) and ‘lay’ (bet against) the same outcome of a particular sporting event. But because you have a free bet, you can extract value as you know one side of the bet will win.

For example, select ‘Free Bet (SNR)*’ and let’s say the free bet was £50. Enter £50 into the back stake. There will be 0 commission from a bookmaker. Enter the odds, for argument’s sake let’s say the back odds are 7.0.

Now enter the lay odds, so you would find the same event on an exchange betting site. The three main ones are Smarkets (2% commission), Matchbook (1% commission) and Betfair (5% commission). Say we picked Smarkets and the lay odds are 7.5 and 2% commission.

The calculator will tell you that your lay stake is £40.11. However, your liability is £260.71, this is the amount needed to cover the bet. Now, the exciting part. Win, lose or draw. The free bet calculator tells you that you have just made a cool, risk free £39.29. So there you have it, £40 in cash, banked after just one bet. And the best bit? There are hundreds of free bets available all the time.

If you are a complete newbie or want to learn a bit more about matched betting, check out my blog:

How I Made Over £13k Matched Betting (AND HOW YOU CAN TOO)

Once the sign ups run out, you move onto ‘Reloads’ and Accumulators. This is where I would recommend signing up with a company like Profit Accumulator as they post daily offers from all of the bookmakers, and you get access to the accumulator spreadsheet, which is where I made a lot of money. There are also great offers on the horses every Saturday which can be quite lucrative.

Go get that money!