General Betting
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Hi, need same help to calculate funds. The problem is the partly settlement of long term markets, i.e. UEFA Champinsleague Winner.
Account Summary shows:
Available to bet: 313
Current Exposure: -5,166
Retained Commission: 240
Commission is 5%
Can I use formula
313 + 5166 +240 - 240 / 5 * 100
to calculate funds? I need the funds figure just to check my betting activity and draw a chart.
tia
Account Summary shows:
Available to bet: 313
Current Exposure: -5,166
Retained Commission: 240
Commission is 5%
Can I use formula
313 + 5166 +240 - 240 / 5 * 100
to calculate funds? I need the funds figure just to check my betting activity and draw a chart.
tia
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Replies: 7
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Yes you can , but it's easier just to multiply your retained commission with 20 and add that to the available to bet amount.
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Thanks Eddie the eagle,
but I will add the retained comission, too. The retained commission comes from equal value lay bets on all selections, the final profit_loss will be 50, whereas the retained comission is calculated from won lay bets of 4000. When I add the retained comission, there will be a change of final comission (=2,5) at final settlement, without adding the retained comission, the change will be retained comission-final comission, whis is at least 450 - 2,5 |
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The retained commission must be from 4.800 not 4.000 , but that's not the point here. I was probably wrong in what I said. You would have to multiply by 21 , not 20.
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The retained commission must be from 4.800 not 4.000 ,
Eddie, you are right, I am quite confused about the retained comission, because it is the first time I do trading in longterm outright markets. I am not sure if I shall continue with this longterm stuff, because the retained comission blocks great part of funds to ears small profit. |
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Yes , this retained commission thing really is a pain in the ar$e sometimes. If you are close to maxed out in liability around several markets and Betfair remove some losers (which you have laid) from a partially settled market , the retained commission thing may actually make your balance turn negative and therefore make it impossible to place any bets in any markets , even bets that actually only can reduce your liability if they are matched.
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look at your account balance, which will be circa 5.4k on your statement, deduct from that the UEFA losses to come, that is what you have
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look at your account balance, which will be circa 5.4k on your statement, deduct from that the UEFA losses to come, that is what you have
Thanks Probst, this is off course a second method, but I have several outright markets with partial settlement, UEFA has the biggest retained comm. I prefer to use account statement because I am too lazy to check every logterm market i did trading in the past... ;) |