Overlaying and underlaying bets – Oddsmonkey matched betting calculator

Overlaying and underlaying bets

Overlaying and underlaying bets using the matched betting calculator is useful for when situations are favoured on a selection winning at the bookies or losing at the bookies. Overlaying is a strategy where you basically increase your lay stake so that if the selection wins at the bookies, you will expect to make a qualifying loss but if the selection fails to win, you will break even. So underlaying is essentially the opposite. Underlaying is a strategy whereby if the selection wins at the bookies, you will break even but if it fails to win, you will make a qualifying loss. Both overlaying and underlaying bets can both be found on the matched betting calculator which is available at Oddsmonkey.

Overlaying bets

Overlaying bets is a very good strategy to use for when you need a selection to win in order to receive a free bet refund or a particular bonus offered by the bookmakers. In the worst case scenario, you will break even if the selection fails to win, so this makes it impossible to lose a penny.

For example, let’s say you bet on a selection that wins and you will get a free bet of £20 if the selection wins. You overlay the bet and make a qualifying loss of £6.00 and now have a free bet of £20.00 to come. From the free bet you can expect to make 80% of the value so you can expect to make £16.00 and after our qualifying loss of £6.00, this leaves us with a £10.00 profit!

If that same selection failed to win, we would lose and win nothing so we retain our capital at no cost to us. For example, you could have bet £200 and after the bet has settled, you can walk away with your original £200.

One offer that is very good for overlaying your bets is the Betfair 3/1 offer which they offer on a busy Saturday of horse racing and at popular horse racing events such as Cheltenham. This is a great offer because if you bet on a winner with a stake of £25.00 at odds of higher than 3/1 (4.0) you will get a £25 free bet to use on whatever you like! By overlaying with this free bet promotion we can guarantee a profit if we hit a winner in the horse race. Because we can expect to keep 80% of the free bet value, we can generally make £20.00 from the £25 free bet, so as long as we keep our overlaying qualifying loss below £20.00, we should easily make a profit if the horse wins. If the horse fails to win, then no harm done; we will walk away with our original money which is much better than using the standard match on the matched betting calculator and taking a loss no matter what happens.

When overlaying bets you have to think to yourself, if the selection wins I shall make a small loss but then I will make a profit from the free bet which will exceed my loss. If the selection does not win, you will win or lose nothing which is the best possible position to be in.

Overlaying and underlaying bets

Underlaying bets

Underlaying bets is literally the opposite of overlaying bets with the matched betting calculator. When you underlay bet you are quite literally laying less than you would normally for a standard match. This means your lay stake will be less than that of a standard match on the matched betting calculator. The underlaying strategy is a clever way to make money for when you want a selection to fail to win. So if a bookie is offering you a refund if your bet fails to win, underlaying can be an effective way to guarantee yourself money if your selection does not win. If the selection ends up winning, you will basically break even which is the optimum position to be in. Opportunities for underlaying bets aren’t as common as those for the overlaying strategy. This is because if the bookies offered us a refund if our first bet loses, we would generally put our calculator into SNR (stake not returned) mode so that we make a profit no matter if the horse wins or loses using the standard match. I can honestly say in my time of matched betting, I have never used the underlay strategy purely because there are almost no opportunities to do underlaying on your bets. It makes much more sense for the reasons above that when a bookie refunds your losing stakes to use the refund in a standard match so you make a faster profit.

Overlaying and underlaying bets


Overlaying and underlaying bets on the matched betting calculator at Oddsmonkey are both very clever strategies to use when you will receive a free bet dependent on a specific result. This can prove to much more profitable for you in the long run as opposed to just using the standard match option which is in the middle of the matched betting calculator. We would overlay our bets for when we need a bet to win at the bookies in order to receive the incentive from the bookmakers. Conversely, we would underlay our bets for when we need a bet to lose at the bookmakers in order to receive an incentive from them. Whilst underlaying betting opportunities do not appear as often as overlaying, it is still important to know which bet offers are required for underlaying.

The best example of making money from overlaying is the Betfair 3/1 offer for a £25 free bet if you hit a winner. Once you do this offer for real and make money from it, you will appreciate just how clever the overlaying strategy is as you are taking a small loss but then getting a profit from the free bet that is to come. If you do not hit a winner, then the worst thing that could happen is you walk away with your initial outlay which is never a bad thing.

To join Oddsmonkey and use the overlaying and underlaying features on their matched betting calculator, click here.

Here is my YouTube video guide.

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Overlaying and underlaying betsFeel free to message me and I will ensure your queries are dealt with immediately. My email address is adam@catbets.com and I get back to all messages the same day.

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