How to use it
Simply select the bet type you are looking to make and the fill in the relevant values in the RED boxes and hit the "Calculate" button and your lay stake and liability at the betting exchange will be returned to you.
When cashing out a free bet it is important to know whether the free bet stake is returned by the bookmaker in question.
One thing to remember is that the free bet stake is not returned you are looking for a bet at odds of 3 or above. Of course the higher the odds the more money will be tied up for the duration of the bet as the liability at the exchange will be more, but this still of course all risk free.
As a guide, with equal back and lay odds, the % return for a non returned stake offer will be approximately:
50% at odds of 2
60% at odds of 2.63
70% at odds of 3.7
80% at odds of 6
90% at odds of 20
94% at odds of 100
Try entering different permutations of BACK and LAY odds at first to see what effect the difference in odds have on the overall liability and more importantly your profits so you can find a level of liability to profit ration that you are happy with.
All odds must be entered as decimal so if you need to convert them before you start just use the convertor tool below.
Qualifying betFree bet, stake returned Free bet, stake not returned
Now enter the odds information:
1. Back Stake
Enter the stake to be wagered at the bookmakers
2. Back Odds
Enter the odds at the bookmakers in decimal
3. Lay Odds
Enter the odds at the betting exchange
4. Commission (%)
Enter your commission rate at the betting exchange (default is 2% at Betdaq)
The lay stake required at the betting exchange is calculated here
This is the total amount you must have in your betting exchange account to cover the bet
This table shows the profit / loss from each outcome. If the BACK bet wins i.e. at the Bookmakers then read the Back column to show the profit on this bet, and do likewise if the Lay wins at the Betting Exchange. The two figures in the column added together will equal the profit or loss on the overall bets placed. Remember when we are matching out the qualifying bet this figure is almost certainly a small loss but you will still make a profit as with the second bet you will using the FREE bet as the stake, making this subsequent bet all risk free profit.
The % retained figure is the % of the back stake that is retained by placing these bets. So this is either the % loss for placing the qualifying bet or the % profit generated by the free bet, generally we aim for 65% and over on a stake not returned free betand 85% and over on a stake returned offer.