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I am trying to work out a formula in Excel with little success.
I want to back at 6.0 and offer a lay at 4.0 before an event begins, to win £21.05. How do I calculate the back & lay stakes to guarantee equal profit?
I want to back at 6.0 and offer a lay at 4.0 before an event begins, to win £21.05. How do I calculate the back & lay stakes to guarantee equal profit?
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Try ~
Bet Stake = Profit required / ((back price / lay price)-1)
Lay Stake = Back price * Stake / Lay price
Put these in cells stipulated.
Cell A1 ~ Profit required
Cell A2 ~ Back price
Cell A3 ~ Lay price
Cell A4 ~ Stake to back
Cell A5 ~ Stake to lay
Cell B1 ~ 21.05
Cell B2 ~ 6.00
Cell B3 ~ 4.00
Cell B4 ~ =B1/((B2/B3)-1)
Cell B5 ~ =B2*B4/B3
You need to enter your variables on cells B1, B2 and B3
Bet Stake = Profit required / ((back price / lay price)-1)
Lay Stake = Back price * Stake / Lay price
Put these in cells stipulated.
Cell A1 ~ Profit required
Cell A2 ~ Back price
Cell A3 ~ Lay price
Cell A4 ~ Stake to back
Cell A5 ~ Stake to lay
Cell B1 ~ 21.05
Cell B2 ~ 6.00
Cell B3 ~ 4.00
Cell B4 ~ =B1/((B2/B3)-1)
Cell B5 ~ =B2*B4/B3
You need to enter your variables on cells B1, B2 and B3
Thank you. I spent all night going round in circles. That is exactly what I needed.
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