Our effective odds calculator makes it easy to work out the correct odds of a profit boost where some or all of the winnings are paid as a free bet. This calculator will will work out the effective odds if this is the case, so you can work out the correct back odds so that you can assess if the offer holds any value for matched betting purposes.
How Does The Effective Odds Calculator Work?
If a bookmaker is offering a price boost where some or all of the odds are paid as a free bet, you will need to enter the figures into the effective odds calculator above to work out the effective back odds.
When price boost winnings are paid as a free bet, you will not receive your stake back on the free bet portion when you place the free bet, so this will affect how much you need to lay for matched betting purposes. The first thing you need to do is calculate the effective odds using this calculator.
How Much of the Boost Is Paid as a Free Bet?
Firstly you need to let us know how much of the profit boost is paid as a free bet. You can choose between “All winnings paid as a free bet” meaning that all the returns from the profit boost are paid as an SNR free bet. The second option is “Enhanced winnings paid a free bet”. This means that the returns from the standard odds will be paid as cash, but the boosted portion will be paid as a free bet. This is the most common promotion that is used for price boosts that use follow this promotion.
Let’s look at an example: Let’s say a bookmaker runs a promotion offering Liverpool to beat Man Utd, was evens, boosted to 2-1 (3.0) with boosted winnings paid as a free bet. If you backed at £10, you would receive £10 winnings (plus your stake) and £10 as a free bet. It is the boosted portion only that is paid as a free bet.
Enter Enhanced Back Odds
Here you enter the boosted price. In the example above you would enter 3.0 as this is the boosted price.
Enter Current Back Odds
If you have selected “Enhanced winnings paid as a free bet” as the option you will need to enter the current back odds from the bookmaker website you are betting with. In the example above this would be 2.0 (evens).
Free Bet Profit (%)
In this section of the calculator you need to enter the % return you expect from the free bet if you were matched betting. A good return from a free bet is around 80% at higher odds. But if it’s with a bookmaker that typically offers poorer odds, opt for something between 60%- 80%.
Press convert and your effective odds will be displayed. You can then use this figure in our matched betting calculator to work out the value of the offer.