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General Betting
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25 May 10
23:01
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Date Joined:
19 Oct 08
I'm trying to get my head around some maths so I can put together a strategy. It's nothing special just want to know if there is a formula I can use to calculate what odds I need to get matched to make a 20% profit whoever wins a certain event.
For example if I get £5 matched at 8.0 on X to win what do the odds need to fall to for me to lay X such that I am green at 20% x £5 = £1.00 for every potential outcome.
I think it is (8.0-1.0) x £5 = £35 so I need my lay stake to be £6 and my liability £34 so 34/6 = 5.67 then add the 1.0 and I should lay at 6.67 for £6 (although it would have to be 6.6 on betfair).
Am I making this too simple and there are multiple odds and stakes I could lay at to get that 20% profit?
For example if I get £5 matched at 8.0 on X to win what do the odds need to fall to for me to lay X such that I am green at 20% x £5 = £1.00 for every potential outcome.
I think it is (8.0-1.0) x £5 = £35 so I need my lay stake to be £6 and my liability £34 so 34/6 = 5.67 then add the 1.0 and I should lay at 6.67 for £6 (although it would have to be 6.6 on betfair).
Am I making this too simple and there are multiple odds and stakes I could lay at to get that 20% profit?
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have a look at arbcruncher
back 2.00 £100 lay 1.66 £120.48 comm 5% profit 19.46% whichever wins |
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above is back/lay on bf
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Thanks. Didn't know if those calculators. Is there is a way you can set the profit you want and it kicks out the odds and stake you need.
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* of
(not if) |
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have a look at www.thestakingmachine.com
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In your case you want to be green with a profit of 20%, so you take 1.20 as the growth factor. You divide the odds by the growth factor, and multiply the stake by the growth factor.
Back at 8 for £5 Lay at 8/1.2 for (backer's stake) £5*1.2 that gives lay at 6.67 for (backer's stake) £6 It's not perfect as the amounts are rounded, and you'll need to work around the odds intervals. Laying at 6.6 gives a profit split of £1.40 on the selection traded and £1 on the rest. |
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You are innumerate
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Cheers Investor.
Yeah good one Dfcironman - haha really worthwhile comment. Go change you nappy now. |