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Back/Lay Exchange Hedge Calculator with Commission
Hedge a bookmaker back bet with a lay bet on a betting exchange. Enter back stake and odds, lay odds and exchange commission to calculate the equal-profit lay stake and liability.
How it works & examplesUnderstand the calculation
How the back/lay hedge with commission is calculated
If the back bet wins, modeled profit is back stake × (back odds − 1) minus lay liability. If the back bet loses, modeled profit is −back stake + lay stake × (1 − commission rate).
Laying off a position differs from taking a single bookmaker cash-out offer; price the alternative in Sportsbook Cash Out Value Calculator.
Setting those two profits equal gives equal-profit lay stake = back stake × back odds / (lay odds − commission rate). Lay liability = lay stake × (lay odds − 1).
This differs from a normal two-bookmaker hedge because exchange commission reduces only the lay-winning scenario in this simplified model.
A balanced hedge is only balanced when both sides describe the same settlement event. Check partial matching, commission basis, dead-heat reductions, void rules, market suspension and currency conversion before treating the two modeled outcome profits as executable cash results.
Maths & verification
Calculate equal-profit lay stake, exchange liability and both outcome profits after exchange commission.
Try the simulator below. Input values stay in your browser; no account or money is involved.
Model assumptions: No. Virtual games use declared teaching models. Verify any actual operator’s payout rules independently.
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How to use the tool
Calculate the lay stake that equalizes the two modeled outcomes after exchange commission.
- Enter the original bookmaker back stake and decimal odds.
- Enter the exchange lay odds and commission percentage charged on exchange winnings.
- Compare equal-profit lay stake, liability, both outcome profits and the minimum modeled result.
Understanding your result
Back 100 at 3.00 and lay at 2.80 with 2% exchange commission gives an equal-profit lay stake of 300 / 2.78 ≈ 107.91. Liability is about 194.24. Either modeled outcome leaves about 5.75 profit before any other fees or settlement differences.
Scope and limitations
This is a two-outcome hedge model. It assumes the back and lay bets settle on the same market and that exchange commission is charged on lay winnings in the losing-back scenario. Real exchanges can charge commission on net market winnings, and voids, dead heats, partial matching, premium charges, FX and price movement can change the result.
Before you rely on the result
- How the calculation works
Formulas, assumptions, rounding and model limits are documented on the methodology page.
- Check the current inputs
Use the odds, RTP, fees, bonus terms or other values currently shown by the operator or market.
Back lay calculator with exchange commission and liability
A back/lay hedge is useful when one position is a normal back bet and the other is a lay bet on a betting exchange. The exchange side has liability rather than a normal stake-only loss.
Commission matters because a winning lay position may be charged on exchange winnings, so the zero-commission hedge formula is not exact.
Equal-profit lay stake formula
With back stake B, back odds O_b, lay odds O_l and commission rate c, equal-profit lay stake is B × O_b / (O_l − c).
Liability is the exchange capital at risk
Lay liability = lay stake × (lay odds − 1). At lay odds 2.80, every 100 units of lay stake creates 180 units of liability.
Commission basis can vary in real use
Many exchanges calculate commission from net market winnings rather than every individual bet in isolation. Multiple matched bets, discounts or premium charges can therefore produce a different final account result.
Questions about this calculation
Why is commission inside the lay-stake formula?
Because the exchange keeps part of the lay winnings when the backed selection loses. Equalizing profits therefore requires slightly more lay stake than a zero-commission hedge.
What is lay liability?
Liability is the amount lost on the exchange if the laid selection wins: lay stake × (lay odds − 1).
When is Back/Lay Exchange Hedge Calculator with Commission the right tool?
Calculate the lay stake that equalizes the two modeled outcomes after exchange commission.
How should I read the result from Back/Lay Exchange Hedge Calculator with Commission?
Back 100 at 3.00 and lay at 2.80 with 2% exchange commission gives an equal-profit lay stake of 300 / 2.78 ≈ 107.91. Liability is about 194.24. Either modeled outcome leaves about 5.75 profit before any other fees or settlement differences.
What can Back/Lay Exchange Hedge Calculator with Commission not tell me?
This is a two-outcome hedge model. It assumes the back and lay bets settle on the same market and that exchange commission is charged on lay winnings in the losing-back scenario. Real exchanges can charge commission on net market winnings, and voids, dead heats, partial matching, premium charges, FX and price movement can change the result.