General Betting
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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 |
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Thank you. I spent all night going round in circles. That is exactly what I needed.
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