General Betting
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I predict a new era of internet betting involving many betting platforms!
I predict a new era of internet betting involving many betting platforms!
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Replies: 65
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iz77778
07 Aug 11 14:56 bff, if a pc payer on 60% wants to make a 100 quid profit at the odds of 2, how much does he have to bet? iz77778 07 Aug 11 15:52 bff, the answer is 160. the pc punter has to take out an extra 60 quid from the exchange to get his 100. I take it maths wasn't your strongest subject at school ? |
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point being eddie that to get a net return of 100, the pc payer has to invest 160 at the odds of 2.
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Still incorrect.
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what have i missed?
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A lot. just go through the processes of that 160 bet and you'll see.
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Eddie the eagle is spot on as usual in his posts, good to see his understanding of mathematics is
much higher than the average exchange player seems to be according to this forum |
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Could you answer the question correct ?
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I could try to answer if you ask me the question with the full information in respect to say
Bets/wins/returns(odds), I presume its a win cycle he must refer to over a chargeable, weekly period as one bet that always wins is not a good example to use to calculate a charge on a realistic period of profit activity! |
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The way he perceives the pc eddie is like a child playing marbles and winning only a broken 40% peice of a marble when the win has to contain some form of whole unit! If it were conkers then he may win 40% of the opponents conker with a good smash [;)]
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bff, if a pc payer on 60% wants to make a 100 quid profit at the odds of 2, how much does he have to bet?
That is the question. To little information to make a correct calculation, but let's say this guy is on 60 % PC and this is the only bet he is having that week. |
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I see and lets say it wins as the calculation needs a win to make the profit and charge else its
a simple loss, requirement formula(100/2)*offset formula(100/40)=£125  |
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No, not correct.
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He could elect to make a 100 pound bet at korals or hills at same odds and if the bet frequency was 1 a week that wins then choosing a different bookie every week he could avoid refusal, but if betting frequency was 50 bets a day his profit project would grind to a halt within days if every selection won
[;)] |
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Not only could, he would have to go elsewhere if he wanted such a bet, even if odds was much worse elsewhere.
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£125 staked at 2/1 would return £375 minus the stake , gross profit is £250, after a 60% charge is net profit £100, have I missed something out or error in calculation?
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Ok, just a misunderstanding. The bet wasn't @ 2/1, it was @ evens.
You are correct if it was @ 2/1. |
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Most punters forget 3 simple facts when considering bookmakers as credible alternative service providers to sporting exchanges
1....There is at least a 2/1 ratio in lays to backs, the lays cannot be bet at any bookmaker thus canceling out the pc charge directly in comparative betting amounts not counting the deficit in poorer odds by the bookmaker. 2....maximum bets in bookmakers are actually £200 sometimes as many bookmakers dont except larger bets, betfairs maximum is much larger 3.....persistent winners are not tolerated in bookmakers so there can be no advantage possible |
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Sorry Eddie last post does not refer to you but to most bookmaker lovers, the home of losers [;)]
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A lot of complainers of the pc who in my estimation from a lack of understanding of how to create a persistent profit are rather like school children dreaming of having a key to a sweet shop and then waking up screaming when the dream goes wrong and the headmaster appears saying
"give 60% of the sweets back tommy" The fact it is far more sweets than the average boy needs to eat and is not fixed to how many times he goes in the shop is no pleasing tommy as he hates giving any of his sweets away  |
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£125 staked at 2/1 would return £375 minus the stake , gross profit is £250, after a 60% charge is net profit £100, have I missed something out or error in calculation?
and some people think its ok for him to get 4/5 about a 2/1 shot betfair take no risk but get more than he does if it wins |
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Nice advertising for ****.
Bet £125 at 2/1 with us and win between £243.75 and £245 Bet £125 at 2/1 with betfair and win between £93.75 and £245. |
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he has to bet 250
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apologies to all, i humbly accept the 'numpty of the week' award for this week.....
60% = 250 40% = 167 20% = 125 |
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The correct answer is in fact more than £250 because you don't get
full value for commission paid. In fact total charges can rise to 62.5% |
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Thats an interesting point JML , betfair has now a major problem in core product as it has not addressed the fact that new customers, average customers and big winners are lumped together in
one market so that when implimenting charges to the whole spoting exchange it has a negative perception. I believe a classed system where new/occasional/small to medium bettors could enjoy no pc charge in capped liquidity market and pro traders/bettors/bookmakers play in an unlimited liquidity extended market with pc would of been a much better format and allow more value for small players! |
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I will seed my own threads rather than have silly ones at the top
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