Back and lay betting calculator
Backed a selection and the price has moved? Enter your back bet and the current lay price. The calculator gives the lay stake that locks in the same profit on every outcome, the liability that lay will hold, and your guaranteed result.
How the maths works
A back bet wins stake × (odds − 1) if the selection wins and loses the stake otherwise. A lay bet does the reverse: you win the backer's stake if the selection loses, and pay stake × (odds − 1) (the liability) if it wins. To make both outcomes pay the same, the lay stake must equal back stake × back odds ÷ lay odds. If the lay price is below your back price you lock in a profit; if it is above, you lock in a loss but cap your risk.
On the AuraBet exchange you do not need to type this in: the Cash out button on any market where you hold a position works out the hedge for you and pre-fills the slip. The calculator is here for planning a trade before you place it, or for checking a bet placed elsewhere.
Frequently asked questions
What does a back and lay calculator do?
It tells you how much to lay (bet against) a selection you have already backed so that you win the same amount whatever the result. That is called greening up or hedging.
How is the lay stake calculated?
Lay stake = back stake × back odds ÷ lay odds. The liability on that lay is lay stake × (lay odds − 1).
What is liability?
Liability is the amount you lose if the selection you laid wins. It is held from your wallet when the lay bet is placed and returned when the market settles.
When does hedging make a profit?
When the lay price is lower than the price you backed at. If the price has drifted higher instead, the calculator shows the loss you would lock in by hedging now.
Does AuraBet charge commission?
No commission is deducted on exchange winnings at AuraBet, so the calculator assumes 0%. You can change it if you are checking a bet elsewhere.
Read the exchange guide for back and lay explained with examples, the rule book, or go to live markets.