Unwanted Lay Calculator – How to Cancel a Lay Bet

Placing lay bets is an essential part of matched betting, allowing you to cover all outcomes and lock in a profit. But what happens when you place a lay bet by mistake or need to reverse it?

The Unwanted Lay Calculator helps you efficiently correct errors by calculating the required back bet to cancel out an unwanted lay bet while minimising losses.

⚡ How to Cancel a Lay Bet

If you’ve placed a lay bet by accident, there are two ways to fix it:

• 1️⃣ Use the Exchange Trade-Out Feature – Many betting exchanges offer a trade-out option to close your position.
• 2️⃣ Use the Unwanted Lay Calculator – If trade-out isn’t available or not suitable, this tool helps you place a calculated back bet to cancel out your lay bet.

🔄 Method 1: Using the Exchange Trade-Out Feature

Most betting exchanges like Smarkets, Betfair, and Betdaq offer a built-in trade-out option.

How it works:

• Find your lay bet in the exchange.
• Look for the cash-out or trade-out button.
• The system will calculate a bet to close your position.

Important Notes:

• If the odds have moved significantly, you may take a small loss.
• Cash-out may not always be available if liquidity is low.
• Using trade-out could impact other bets in the same market.

🛠️ Method 2: Using the Unwanted Lay Calculator

If cash-out isn’t an option, the Unwanted Lay Calculator helps you manually correct your bet.

Step 1: Input Your Unwanted Lay Bet

• Enter the exchange name, stake, lay odds, and commission.
• The stake should match the unwanted lay amount.

Step 2: Enter the Current Back Odds

• Check the latest back odds (green on Smarkets, blue on Matchbook, yellow on Betdaq).
• You can use a different exchange or even a bookmaker (set commission to zero for bookies).

Step 3: Calculate Your Adjustment Bet

• Click Calculate, and the tool will generate the necessary back bet.
• Placing this bet cancels out your unwanted lay with minimal loss.

📊 Example Calculation

Let’s say you mistakenly placed a £50 lay bet at odds of 3.00 with 2% commission on Smarkets.

• You check the back odds, which are now 2.96.
• The calculator tells you to place a £50.34 back bet at those odds.
• Following this correction, your lay bet is neutralised.

While you might take a small loss of £1.34, this method prevents potential larger losses if the event doesn’t go your way.

📌 Summary: Why Use the Unwanted Lay Calculator?

• ✅ Prevents costly mistakes by reversing accidental lay bets.
• ✅ Works across multiple exchanges and bookmakers.
• ✅ Reduces risk compared to letting the bet play out.
• ✅ Fast and simple – Just enter your details and adjust your position.

Need to fix a betting mistake? Use the Unwanted Lay Calculator now.