General Betting
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how do you traders out there calculate turnover? I'm particularly targetting tick traders because i was having a conversation with someone who says he trades in ticks and if he backs at, say, 3.5 for £1000 and lays at 3.45 for £1000 that is £2000 in turnover. That is not my view but more importantly is that how betfair work it out?
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Replies: 15
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that would go down as £4000 matched according to betfair.
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Yes i know betfair double the total but is the trader turning over £2000? They will at some point hedge too when a position has been built, whether it be green or red, and if this is the case the tick trader will, potentially,be turning over £100,000's per day.
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Buzzer, I think the answer lies in why you want to know. If you want to calculate profit as a percentage of turnover, I would do one sum, if you want to calculate Return on Investment (ROI), I would do another.
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how would you work out his profit on turnover then Artisan?
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For traders it's absolutely pointless to total each individual trade. I'd have run into billions by now.
More useful is Turnover defined as overall market Wins + Losses. Then ROT = (Profit / Turnover) * 100 |
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What is the point of calculating turnover?
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for % profit on turnover means. The way he calculates turnover equates to him making a 0.11% return
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Me?
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But what use is it to know that?
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usually, this is a presumption though, to see if you're performing as well as previously and to see if your edge is eroding. Let's face it the margins are extremely tight
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If that's the reason, can't you just look at your BF balance.
That's a pretty good indicator on how you're going . But I suppose why simplify things when you can complicate them. |
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to me, the idea of each trade should be to make a EV profit, or cut risk (should be good for long term EV)
for me, turnover would be 1000 + 2450= 3450 turnover |
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the lay bet at 3.45 is really just a back bet (on other side ) $2450 at odds of 1.408
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FINE AS FROG HAIR Joined: 12 Mar 07
Replies: 601 01 Oct 10 17:24 If that's the reason, can't you just look at your BF balance. That's a pretty good indicator on how you're going . But I suppose why simplify things when you can complicate them. That wouldn't tell the whole story though, wouldn't you agree? Reading through another thread perhaps this will come to Aye Robots attention. Thanks for the replies so far. |
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Profit on turnover should help you see how effective your betting is.
If you just look at the BF balance, or your profit, you can't see as much. e.g. two different punters might both make a £100 profit, but one could have made hundreds of bets of huge size, while the other made fewer, smaller bets. Which punter is better? POT still doesn't tell the complete story. A third punter also made £100, this time with just a single bet. Their PoT would be 100%, but that doesn't necessarily make them a better punter than the other two. Perhaps they were lucky, while the other two were more consistent? |