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General Betting
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Hello to all, as you can suppose, i'm a newbie inhere... been betting for years with traditional bookmakers (mostly Pinny and some asian books), now I want to see howz things going on exchanges.
Decided to take my first bet just to see how it works, and now I'm pretty much confused
As I said, first bet was just to see how the commision is calculated, so I went with minimum stakes, 4.50€
I've placed a bet (Sedan -0.25 @1,96), and I've been charged for an extra 0.02€, my balance was decreased for 4.52€ instead of 4.50€
That confused me a bit, cause rules says that commision is taken only on winning bets, not on your stake
Game finished, bet won, and new commision for me
Instead of 4.32€ profit (4.50x1.96=8.82 | 8.82-4.50=4.32) I've got back 8.62€ which means 4.10€ of profit. Another extra fee, now 0.20€
Questions:
What is that 0.02€ and what is 0.20€ fee?
Is there any way (formula or something), that can recalculate the odds, because my current balance does not coincides with my balance that I keep record of in my excel file? For example; for my bet mentioned before, the real odds would be 1.91 instead of 1.96 (4.50€x1.91=8.59 |8.59-4.5=4.09€)... hope you understand what am I trying to say
Thanx very much in advance!
Decided to take my first bet just to see how it works, and now I'm pretty much confused
As I said, first bet was just to see how the commision is calculated, so I went with minimum stakes, 4.50€
I've placed a bet (Sedan -0.25 @1,96), and I've been charged for an extra 0.02€, my balance was decreased for 4.52€ instead of 4.50€
That confused me a bit, cause rules says that commision is taken only on winning bets, not on your stake
Game finished, bet won, and new commision for me
Instead of 4.32€ profit (4.50x1.96=8.82 | 8.82-4.50=4.32) I've got back 8.62€ which means 4.10€ of profit. Another extra fee, now 0.20€
Questions:
What is that 0.02€ and what is 0.20€ fee?
Is there any way (formula or something), that can recalculate the odds, because my current balance does not coincides with my balance that I keep record of in my excel file? For example; for my bet mentioned before, the real odds would be 1.91 instead of 1.96 (4.50€x1.91=8.59 |8.59-4.5=4.09€)... hope you understand what am I trying to say
Thanx very much in advance!
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odds x 0.95 hth
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Sorry
(odds-1)x0.95=potential profit |
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You mean this:
(Betfair quote -1) x (1 - 0.05) +1 = Actual price ? :) Found just what I needed... but thanx anyway ;) But still those 0.02€ remains mistery :) |
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Betfair always round up the commission to the nearest 0.01
By my calculations, you should have received 4.10 profit |
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And I did received a 4.10 profit, all clear :)
Just one little thing that I don't get: why they take off my balance 4.52€, when I placed a wager worth 4.50€? Currencies differences? OK, but why no other book takes that? When I wager 50€ on Pinnacle, they charge me for 50, not for 50.05 or so :) |