Calculators

What it does

Many bookmaker offers start with a qualifying bet: a normal bet with your own money that unlocks the offer. This calculator works out a lay bet at an exchange that balances it, so the result is about the same whichever side wins.

Because lay odds are usually a little higher than back odds, and exchanges charge commission, there is normally a small cost. The calculator shows it, along with the lay stake and the liability.

How to use it

1. Enter your qualifying stake and the back odds at the bookmaker.
2. Enter the lay odds at the exchange, and its commission (leave it at 0 if there is none).
3. Read the cost to qualify: the amount the pair of bets is likely to cost you.
4. Make sure you can cover the liability before you lay.

Worked example

Made-up numbers, for learning

A £20 qualifying bet at 3.00, laid at 3.10 on an exchange charging 2% commission.

The lay stake is £19.48, and the liability is £40.91.

If the bookmaker bet wins, the result is -£0.91. If the exchange lay wins, it is also -£0.91.

So the cost to qualify is £0.91.

Things to watch

• Offers have terms and limits, such as minimum odds, a minimum stake and which bets count. Check the bet qualifies before you place it.
• Odds and lay availability change quickly. If the price or the amount you can lay moves, the cost changes.
• A lay bet needs the liability held in your exchange account, not just the lay stake.
• Bookmakers may restrict accounts that use offers this way.
• The closer the lay odds are to the back odds, the smaller the cost.

Key words

Qualifying bet

A bet with your own money that unlocks an offer, such as a free bet.

Back bet

An ordinary bet that a selection will win.

Lay bet

A bet at an exchange that a selection will not win.

Liability

What you pay out if the lay bet loses: lay stake × (lay odds − 1).

Commission

The exchange's cut of what you win on a lay bet.