General Betting
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Doubtless this question has been asked before but I wonder if anyone is able to help me with a small maths problem?
I know how to calculate a straight dutch based on a total outlay, but this formula no longer applies when it comes to calculating the second part of a dutch when a set figure is placed on the first part at separate times. For example.
I back eventA for £200 @ 2.33
Later I want to back eventB @ 2.46 to complete a dutch. What stake should I use on eventB and how do I calculate it?
I know how to calculate a straight dutch based on a total outlay, but this formula no longer applies when it comes to calculating the second part of a dutch when a set figure is placed on the first part at separate times. For example.
I back eventA for £200 @ 2.33
Later I want to back eventB @ 2.46 to complete a dutch. What stake should I use on eventB and how do I calculate it?
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200 x 2.33 = 466
466 / 2.46 = 189.43 200 bet 1 189.43 bet 2 Both return 466 Is that what you mean? |
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Er, no.
A straight dutch example: Stake £200 Odds of 2.33 == 42.91% = (£200 * (42.91%/(42.91%+40.65%))) == £102.71 Stake Odds of 2.46 == 40.65% = (£200 * (40.65%/(42.91%+40.65%))) == £97.28 Stake Return is therefore £39.32 regardless of the result. Fine, but what if I want to plonk £200 down on the 2.33 shot first. Then at a later time, I want to bet on the 2.46 event. Now, how do I calculate the stake for the 2.46 event to guarantee and even return? |
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That's what he just said!
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People get their knickers in a twist about this because it's numbers on a screen.
Think of it as a betting shop. If you bet £200 at 2.33, it's bloomin' obvious you collect £466 when you go to collect. If you wanted to pick up £466 when you later bet more money at 2.46, you'd bet 466/2.46=£189.43 Pretty sure you can do it if you think of it that way! |
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Lori 04 Mar 21:21
That's what he just said! No, it isn't. On a straight dutch: £102.71 @ 2.33 returns £136.60 £97.28 @ 2.46 returns £142.02 Each stake must offset the other losing bet. |
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If you want the same profit of 266
Take 1 from 2.46 = 1.46 266 /1.46 = 182.19 Stake 182.19 Return 448.19 Profit = 266 Think that covers all bases |
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In fairness Eddie, he's right unless you're not expressing yourself properly.
£200 * 2.33 = £466 --- bet A £466 / 2.46 = £189.43 --- Bet B so for bet A you have £466 - (stake A and stake B) = £466 - £389.43 = £76.53 and the same for bet B. Now if you're meaning you want your total overall expenditure to be £200 then you're going to need to know the odds of the second bet before the first is placed and at which point it becomes just a normal bet. As a sidenote I have been meaning to find time to e-mail you for quite a while now, and I shall try a little harder to get around to it soon. |
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Each stake must offset the other losing bet.
It's difficult to work out if you're taking the mickey here, but have you asked the question you think you've asked? You're making this significantly more difficult than it really is. |
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Thanks for all your replies. I don't think I have expressed what I want very well, but I'm probably just being dumb, so I'll take some time to re-read your replies properly.
Good to see you on the forum again Simon. Don't worry about not mailing. I know what it's like - and I'm more than useless myself! |
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I've taken the liberty of appearing sarcastic, when for once I'm not being, to do this word for word. That way we'll work out what's going wrong.
Fine, but what if I want to plonk £200 down on the 2.33 shot first. Ok. You plonk down £200 at the start of an event at 2.33 This returns £466 (A profit of £266 as is happens, although that's totally irrelevant at this point) Then at a later time, I want to bet on the 2.46 event. Ok, this sounds like you want to bet another outcome to make one bigger bet on two outcomes where as long as one of your two selections wins, you win the same whatever happens. Now, how do I calculate the stake for the 2.46 event to guarantee and even return? Well we know the first one returns £466, so the second one has to as well. To return £466 you have to bet £466/2.46 (If you want to test this putting percentages in and out then it might be worth a try to put your mind at ease?) You then have two bets £200 at 2.33 which gets back £466 £189.43 at 2.46 which gets back £466 Your combined bet therefore is £389.43 to get back £466 |
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Well, I'm starting to doubt my own sanity now, but I'll blunder on regardless!
You then have two bets £200 at 2.33 which gets back £466 £189.43 at 2.46 which gets back £466 Your combined bet therefore is £389.43 to get back £466 Bet1 Wins: £266 - loss from Bet2 (189.43) == 76.57 returned or Bet2 Wins: £266 - loss from Bet1 (200.00) == 66.00 returned This is NOT an even spread regardless of the outcome, which is what I wanted. |
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You are confused Eddie as bet 2 actually wins £276.57 - £200 = £76.57
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Oh dear. I am having a bad day, aren't I?
Please all ignore me and I'll slope off into the corner. I should have done what I said I was going to do and read the replies properly! Thanks again. |
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By the way Simon. My mail has changed. Same prefix but now @sky.com. Cheers.
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