Back/Lay Hedge Calculator
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What this calculator does
This Back/Lay hedge calculator helps you lock in profit or flatten risk when you’ve already placed a back bet and want to hedge on an exchange with a lay. Enter the back odds and stake, the exchange lay odds, and commission. We compute the lay stake for either equal profit (both outcomes) or zero-out (no loss if the selection loses), round it to your stake step, and show liability and net profit after commission.
Use it after you find an opportunity in the Arbitrage Calculator, or when a market moves against your position and you want to control drawdown. To judge whether hedging is +EV, combine this with the EV Calculator and track whether you beat the close (Closing line value). If volatility worries you, pressure-test your staking with Max drawdown. For odds conversions, see Implied probability and Odds formats.
Supports Decimal (2.20), American (-110 / +120) and Fractional (6/4) odds. Use the Odds format switch — we’ll convert the fields automatically.
Tip: paste odds in the selected format. You can switch formats at any time — values convert automatically.
Lay stake
Lay liability
Profit if selection WINS
Profit if selection LOSES
Commission applies to net exchange winnings only (Betfair style). We compute the lay stake to meet your target, round it to your step, then subtract commission from the winning exchange outcome.
How to use this calculator
- Enter Back odds, Back stake, Lay odds and exchange Commission%. You can use a comma or a dot (e.g.
2,2or2.2). - Choose a Target:
- Equal profit — same profit if the selection wins or loses.
- Zero-out — no loss if the selection loses; upside if it wins.
- Adjust Rounding (€) to match your exchange stake step. Lay stake is rounded to this step.
- Results show the required Lay stake, Liability, and net Profit for both outcomes (after commission when the lay wins).
Equal profit lay stake:
L = BackStake × BackOdds / (LayOdds − Commission) (commission as a decimal).Zero-out (no loss if selection loses):
L = BackStake / (1 − Commission).Profit if wins:
BackStake × (BackOdds − 1) − L × (LayOdds − 1).Profit if loses:
L × (1 − Commission) − BackStake.
FAQ
Does commission apply on both outcomes?
No. Exchange commission is charged on net winnings on the exchange only (Betfair style). If the lay loses, there is no commission.
Equal profit vs zero-out — which should I use?
Equal profit aims for the same result either way. Zero-out protects the downside (no loss if the selection loses) while keeping upside if it wins.
Why are results not perfectly equal?
Stake rounding and commission granularity can create small differences. Reduce the rounding step to tighten the spread.
What about partial fills or price moves?
Place the likely-to-move leg first and re-calculate if a leg is rejected or re-priced. Use the updated odds to hedge the remaining exposure.
Can I enter American or Fractional odds?
Yes. Pick the format in the Odds format switch. Existing values convert instantly and the calculator computes using the correct decimal equivalents.