New to matched betting? Learn how to profit from bookmaker promotions in my complete matched betting guide.

Select bet type

Each Way - Use when placing an each way arb.

Extra Place - Use when the bookmaker is paying more places than the exchange.

Back Bet (Bookie)

Each way stake

Back odds (decimal)

1 /

Each way terms (fraction)

Lay the Win (Exchange)

Lay odds (decimal)

Lay commission

%

Lay stake required (To Win): £

Lay the Place (Exchange)

Lay odds (decimal)

Lay commission

%

Lay stake required (To Place): £

Bookie

Exchange

Total

First place

£ + £

£ + £

= £

Standard place

£ + £

£ + £

= £

Extra place

£ + £

£ + £

= £

Doesn't place

£ + £

£ + £

= £

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How to use this calculator

There are two main ways to use this calculator. They are profiting from ‘extra place’ offers and ‘each way arbing’, both excellent techniques for making money from your gubbed and restricted accounts.

Extra place offers

An each way bet contains two halves. One half is for the selection to ‘win’, and the other is for the selection to ‘place’, which means finishing in the top number of positions in an event. For example, a horse finishing in the top 3 in a race. If your selection places, that half of your each way bet is paid out at a fraction of the ‘win’ odds.

An opportunity to profit arises when a bookmaker pays out an ‘extra’ place on an event. Horse races and some golf tournaments are where this offer most commonly appears. For example, a horse finishing in the top 4 positions rather than the usual 3.

Most bets will incur a small loss, but you’ll make a big profit if your selection finishes in the ‘extra place’.

My full Extra Place Offers Guide gives complete guidance on how to find these offers, pick suitable selections, and place the required bets.

Extra place offers are available to all customers, even gubbed and restricted ones, so it’s a great way of boosting your daily profits.

Each Way Arbing

An ‘arb’ is a bet where the back odds are greater than the lay odds to the extent that it guarantees a profit. ‘Arbing’ is the process of placing such bets.

Placing bets where the back odds are higher than they should be is called ‘taking value’. Take value consistently, and it can arouse suspicion and lead to account restrictions. Therefore, I only recommend arbing on gubbed or restricted accounts.

This calculator assists with a very particular kind of arb – one that features an each way bet. See my complete Each Way Arbing Guide to learn how to find arbing opportunities and how to profit from them.

Back and lay colours

The calculator uses Smarkets colours (green for back, blue for lay) by default. For Betfair colours (blue for back, pink for lay), you can switch in the main website navigation – under the palette icon on non-mobile devices.

Manual calculations

You will likely never need to calculate your each way lay stakes manually; my calculator at the top of the page takes care of that for you. However, if you’re curious, these are the formulas used.

Lay stake for the win part

Lay stake (To Win) = (back win odds * each way stake) / (lay win odds – lay commission)

Lay stake for the place part

Lay stake (To Place) = (back place odds * each way stake) / (lay place odds – lay commission)

What is matched betting?

Extra place offers and each way arbing are part of a greater whole we call ‘matched betting’. In general, it is a way of exploiting bookmaker promotions to make a predictable profit from each one. By covering all outcomes of an event, you can meet the requirements for claiming free bets or bonuses while your bets cancel out, resulting in an overall profit or loss close to breakeven. You can then repeat the process to extract about 80% of the free bet amount. For example, you can earn about £8 profit from a £10 free bet.

My comprehensive and free Matched Betting Guide will take you through the basic concept with a complete walkthrough of your first bookmaker promotion. You’ll even earn about £15 in the process.

Beyond that, my Matched Betting Academy details how to profit from every UK bookmaker’s ‘welcome’ offer, all for free. Designed and tested by matched betting experts, it also provides techniques to make money from extra place offers, 2UPs, price boosts, and other recurring existing customer offers, all logically structured and well-paced.

Learn Matched Betting
the free, easy way

Make £600+ from bookmaker welcome offers.