betting calculator help

should have said I looked on betcalc but can't find it

anyone?

http://www.betcalc.com/eqprofitcalc.php

maybe this helps [;)]

http://ozracetools.com/

Dutch Book Calculator

really struggling with this...

I've got n Selections, say for illustration I've got 3 selections A B and C
I want to specify a Net profit figure for each of the selections, that considers my stake on the other selections for example
Selection A £1,000
Selection B £500
Selection C £0

I know the odds for each of the selections.

So if Selection A wins I clear a grand, selection B a monkey and selection 3 i break even..

I can't imagine the maths are too difficult but i'm flumoxed

Help??

anyone?

The math is difficult (atleast for me) because you need unknown figures to generate other unknown figures which effect the original unknowns.

The only way I can generate even approximate figures is to use a macro which continually changes the numbers until they match (rather like human trial and error).

There may be a better way to do it but its way beyond my math capabilities.

Don't know of any formulas to do what you want, but easy to do in excel using add in "Solver"
In excel 2007 when a new blank sheet is open, click on the office orb top left, click Excel Options,
click Add ins, select solver from the list, click Go button, When it asks you do you want to install
click yes.

When installed it will show up on the right in the data menu. Next enter these figures in your blank spreadsheet ~

Col A Enter your prices, Col B enter formulas, Col C enter any amount, Col D enter formulas
Your figure to bet will be in col C (after you run solver) the amount you want to win will be in col D

5    =C1*(A1-1)    50    =B1-C2-C3
7    =C2*(A2-1)    50    =B2-C1-C3
9    =C3*(A3-1)    50    =B3-C2-C1

Click Solver in the data menu
In the first box click on cell D1
Click values, Enter 1000
In the cells to change select C1:C3
In the constraints box click add
In the new new pop up in cell reference click cell D2, click =, enter 500 click add
In the new new pop up in cell reference click cell D3, click =, enter 0 click Ok
Now click solve
When the results are known it will ask ~ do you want to save, click yes now you will be able to
use it again without changing solver unless you want to change the parameters.
Let me know how you get on

today i even made one attempt to start to figure out how to resolve this but i counldn't be bothered because straight away i knew it was a pain to get through it, as i don't really need it, i left it alone, of course the spreadsheet solution was the only viable solution

i will try your solution tomorrow but once again nice to have you around

[;)]

much obliged compound - I had a guy with a first in maths on the case today and there was steam coming out his ears towards the end of the day...thanks again, will let u know how I go

worked a treat - i really need to go on a course in Excel!!!

thanks

fook me there is some clever fookers on ere [:o]

ur right - i've learned two things today
1) how to put that calculator together and

2) I really should pack up trying to make betfair pay!!!

Don't know the algebra but here's the manual way
you have a £100 bet and you want to save stake on say two @4/1
Combine odds of two savers =3/2. invert =2/3. divide into 100 =66.66
since the two savers are equal in ratio divide by 2 or halve the £66.66
£33.33 on each