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Matched betting calculators and their uses

Matched betting calculators are an integral part of making matched betting easier, simpler, and more accessible for everyone. A matched betting calculator will let you see what your guaranteed or potential profit will be, without you needing to do any maths.

In this post, we’ll take a look at the range of matched betting calculators available on OddsMonkey.

OddsMonkey matched betting calculators


Our Standard Calculator is used for all basic matched betting calculations. Used by both beginners and longer-term members, this free matched betting calculator shows how much your qualifying losses will be when earning free bets and then how much you will earn from those free bets. All you have to do is enter your stake amount, select the type of bet it is, and enter the available odds.

Advanced matched betting calculators

The following matched betting calculators are used to calculate figures in more advanced betting techniques. They are available with an OddsMonkey Premium membership. Start your free trial today and then upgrade your account to access all of these matched betting calculators and more!

Each Way

The Each Way Calculator works out the back and lay bet amounts when placing an each way bet. There are three individual bets involved in an each way bet:

  • the each way back bet at the bookmaker
  • the lay bet at the betting exchange for the ‘win’ part of the each way bet
  • and the lay bet at the betting exchange for the ‘place’ part of the each way bet.

An each way bet is one where you bet on a particular horse to win. As well as this, you bet on them to finish anywhere within the places being paid by the bookmaker. For example, if you place an each way bet and the horse finishes in 3rd position, your win bet may lose, but your place bet will win. And thanks to the Each Way Calculator, you’ll know how much to stake to keep qualifying losses to a minimum or to maximise profits.

Unwanted Lay

Sometimes you might place a lay bet on the wrong selection by mistake. Don’t worry. With this calculator, you can cancel out any unwanted lay bets. Unwanted lay bets are relatively easy to fix and this matched betting calculator works out exactly how much you need to back at current odds to undo the unwanted lay.

Refund If Places

This matched betting calculator is used when a bookmaker offers a refund offer based on a certain condition. For example, some bookmakers run promotions where you will receive a refund if your horse finishes 2nd. Now, you could back and lay a horse with a low qualifying loss and hope it finishes in that position in order to get your refund.

However, it may be possible to use the Refund If Places Calculator to lock in a small profit by laying on the ‘win’ market, as well as locking in some profit by laying the ‘2 places’ market. The calculator will work everything out for you.

Each Way Reverse

The Each Way Reverse Calculator helps you work out the required stakes for reversing each way bets if the place terms change. If you are hit by a horse withdrawal, use this matched betting calculator to work out what you can back in the ‘place’ market to reduce your maximum loss. You can effectively cancel out your place bet.

If something unexpected happens when matched betting, try not to panic. There is usually a way to work around things. The OddsMonkey Community is a fantastic place to ask if you ever need help with unexpected situations or calculators. For those of you who aren’t yet OddsMonkey Premium members, our Facebook group is full of great advice.

Each Way Extra Places

This calculator will work out your stakes and profit for each way bets in extra place races. When you do each way matching, you take advantage of when bookmakers offer to pay out on more places than standard in a race. For example, if there were 20 horses in a race, the first 4 places would usually be paid with an each way bet. Extra place offers mean that more places will be paid out as ‘winners’. So, if your horse finishes in 5th or 6th, you will make a profit. The calculator will show you how much you stand to gain if your horse finishes in one of those extra places.

Sequential Lay

The Sequential Lay Calculator will help you with sequential lay bet amounts when placing accumulator bets. It uses the regular lay sequential method that applies to all accas whether they are qualifying or free bets. Lay the selections sequentially as indicated by the calculator and then stop laying if/when one leg loses.

Early Payout

Some bookmakers offer ‘early payout’ promotions such as ‘2Up’. Use the Early Payout Calculator to work out how to lock in a profit when the team you bet on go ahead by the designated amount. This calculator can be used for offers featuring football, American football, Ice Hockey and Rugby.


Dutching, or Dutch Betting, is a method which can be used to cover all potential outcomes for an event. Without using betting exchanges and lay bets. The Dutching Calculator shows what stakes to put on to equalise the profit (or loss) among all the outcomes.

Trigger Bet

Some bookmaker promotions require a trigger before a free bet is unlocked. An example would be: “place a bet on a particular race and get a refund on all losing bets if the favourite wins”. Use the Trigger Bet Calculator to work out how to guarantee yourself a profit.

Rule 4

Sometimes in horse racing, it is common for at least one horse to pull out. This can affect the horse you bet on. Because the remaining horses now stand a better chance of winning, their odds are recalculated and reduced. This is called a reduction factor or ‘Rule 4’.

The Rule 4 Calculator allows you to enter the reduction factor percentage the betting exchanges apply to give you new accurate lay odds for your selection, along with the ability to enter the reduction factor the bookmakers will apply so you can also work out your expected returns, should your horse win.

In almost all examples, if the horse you backed wins the race and there have been withdrawals, your profits should be greater than you expected. Or your qualifying losses reduced.

Risk-Free Equal Profit

Risk-free bets are where you get a reward or bonus if the first qualifying bet loses. The Risk-Free Calculator lets you equal out the profit whether the first bet wins or loses.

Win Bonus

The Win Bonus Calculator will help you achieve equal profits, whatever the result when a win bonus is being offered. This calculator has been designed to give equal profit from offers where a bonus is paid on winnings bets. These might be:

  • odds boosts where the difference between the boosted odds and the original odds are paid as free bets
  • where you receive a percentage increase on top of your winnings
  • or a ‘bet £20 get £10 in free bets if you have a winner’.


Dead Heats occur in sports where two or more teams, players, or horses finish in the same place. Trying to calculate the actual profit can be tricky, so let the Dead Heat Calculator do it for you. All you need to do is enter all the bet details, stakes, and odds and then at the end state where your player finished and how many people were tied.

Expected Value

Use this calculator to help you work out the value of a casino offer. This calculator works out if a casino offer is ‘positive expected value’.


It’s time to take the brain ache out of your matched betting. Start your free trial today and upgrade your account to OddsMonkey Premium to access all of these matched betting calculators. You’ll also find in-depth training guides, tools, and the best matched betting offers.

Start making profits now for free!

About the author:

Jenna OddsMonkey

Jenna OddsMonkey

Word up! Jenna makes sure we say it right with engaging copy and a handful of monkey puns thrown in for good measure.

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