Arbitrage and hedging calculator
Split a stake across every outcome of one event, each at its own bookmaker's price, so every outcome pays out the same.
Try it
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Free to use. It works in your browser, and nothing you type leaves it.
How it works
Enter each outcome's price and the commission where an exchange charges it. Set the total stake and the calculator splits it so every outcome pays the same amount. The rating is that amount per 100 staked, before commission. Over 100%, the prices cover every outcome for more than the stakes. Under 100%, for less.
Worked through
Two cases on a tennis match, which has two outcomes and no draw. The split puts £100 across both, priced 2.10 and 1.95 at two bookmakers. The hedge covers a £10 bet already placed at 3.00 by backing the other player at 1.80. No commission in either.
| It shows | Split | Hedge |
|---|---|---|
| Outcome 1 stake | £48.15 | £10.00 |
| Outcome 2 stake | £51.85 | £16.67 |
| Each outcome pays | £101.11 | £30.00 |
| Rating | 101.11% | 112.50% |
| Result (all outcomes) | £1.11 | £3.33 |
In the split, the two prices come to 101.11%, over 100%, so each outcome pays £101.11 on the £100 staked.
In the hedge, the £10 bet pays £30.00 if it wins, so the other player takes £16.67 at 1.80 to pay the same. Either way the result is £3.33.
These hold only at these prices: a price that moves before every bet is placed changes every stake.
Questions
What does the rating show?
The amount every outcome pays per 100 staked, before commission. Over 100%, the prices cover every outcome for more than the stakes. Under 100%, for less. One bookmaker's own prices for an event come to under 100%, because its margin is built into them.
How do I hedge a bet I've already placed?
Set Stake Target to First Outcome and enter your bet as outcome 1, with its stake and odds. The calculator sizes a back bet on each other outcome so every outcome pays the same. To lay your selection at an exchange instead, use the matched betting calculator. For an accumulator, use the sequential lay calculator.
Does it allow for exchange commission?
Yes. Enter the exchange's commission against the outcome you back there. It comes off that outcome's winnings before the stakes are split. The rating is worked from the prices alone, before commission.
Why might the figures change?
They hold only at the prices typed in. A price that moves before every bet is placed changes every stake and what each outcome pays. Type the new price in and the stakes follow.
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Related
- Dutching calculatorBack two to five outcomes of one event so each returns the same.
- Matched betting calculatorThe lay stake, liability and qualifying loss for a qualifying bet or a free bet.
- Odds converterConvert between decimal, fractional and American odds, and see the implied probability.
- All widgets
For the prices themselves, see the Dutching feed.
For over-18s. If gambling is affecting you, free and confidential help is at GambleAware and the National Gambling Helpline on 0808 8020 133.
Get the odds to go with it
The matched feed pairs bookmaker prices with exchange lays: 140+ bookmakers, 60+ of them live in the UK & Ireland. Sign up free on a plan that needs no card.