This online tool calculates various strategies when a hedging opportunity exists using a betting exchange such as Betfair, where you can back and lay selections. The calculator can be used for exchange lay bets in conjunction with standard bookmaker (back) wagers. Simply input 0 for the commission on bookmaker wagers. The calculator also supports opposing back and lay bets with two different exchanges.
Hedging opportunities to guarantee a profit occur in two scenarios:
1. You have placed a back wager with a bookmaker or a betting exchange and lay odds are available on a betting exchange that are lower than the back odds
2. You have placed a lay wager on a betting exchange and back odds are available with a bookmaker or betting exchange that are above the lay odds
This calculator calculates three strategies. One aims to achieve the same profit regardless of the event outcome, while the other two aim to deliver a profit in one scenario, with no profit or loss otherwise. If you haven’t done so already, be sure to view our guide on hedging with a betting exchange.
A hedging opportunity to lock in a profit arises when you have made a wager and the odds have since shifted in your favour. Please note that the commission is applied to your Net Profit, which makes this calculator compatible with bookmakers (set commission equal to 0) and betting exchanges such as Betfair. At this stage the betting exchange Matchbook is not supported due to its unique commission structure.