What a lay bet calculator does

A lay bet calculator helps you cover the other side of a sportsbook bet.

In a classic matched betting setup, you place a back bet at the sportsbook and a lay bet at an exchange. The lay bet is the bet against your original selection.

The calculator works out the stake needed so the two outcomes land as close together as possible.

Why this matters for qualifying bets

A qualifying bet is usually the real-money bet you place to unlock a free bet, bonus bet or welcome offer.

You are not trying to make profit from the qualifying bet itself.

You are trying to complete the requirement while keeping the cost as low as possible.

Once the qualifying bet unlocks the promo, the free bet or refund is where most of the value comes from.

What is a good qualifying loss?

Lower is better.

As a rough guide, keeping the qualifying loss under 5% of the stake is a good target.

So if you are placing a $50 qualifying bet, you ideally want the cost of covering it to be only a few dollars.

If the loss is much higher, the two prices are probably too far apart. Look for a tighter pair before placing the bet.

Back bet, lay bet and hedge bet

The wording can get confusing, but the idea is simple.

• Back bet: betting on something to happen.
• Lay bet: betting against something happening, usually on an exchange.
• Hedge bet: any bet used to cover the other side of your original position.

In Canada, exchanges are more limited, so some setups use another sportsbook as the hedge side instead.

The goal is the same: cover the outcome, control the loss and unlock the promo cleanly.

How to use this calculator

Add the odds and stake for Bet 1. Then add the odds available on the hedge side.

The calculator shows the hedge stake, total amount bet and profit or loss if either side wins.

You can also switch between qualifying bet, free bet and risk-free bet modes using the bet type controls.

Related calculators

• Free bet calculator for stake-not-returned free bets
• Risk-free bet calculator for first-bet-insured promos
• Arbitrage calculator for price gaps between two books

New to this? Read the laying guide or start with matched betting.