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Hello,
Question how do i calculate a sure win:
Lets say the odds on betfair are: 1. 89 to back PSV.
my friend comes to me and want to back PSV --> bet $ 100 and i give him the odds of 1.79 (he never heard of betfair..-) is this a sure win position looking at the odds on betfair for me ?
if so how do i calculate the lay bet ammount on PSV ?
Greetings
Richard
Question how do i calculate a sure win:
Lets say the odds on betfair are: 1. 89 to back PSV.
my friend comes to me and want to back PSV --> bet $ 100 and i give him the odds of 1.79 (he never heard of betfair..-) is this a sure win position looking at the odds on betfair for me ?
if so how do i calculate the lay bet ammount on PSV ?
Greetings
Richard
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1.89 divided by 1.79 = 1.055
5.5 pence profit to a one pound stake if PSV win
break even if they lose
5.5 pence profit to a one pound stake if PSV win
break even if they lose
you lay £1.055 to the other person
if they lose you gain £ 1.055 from the lay
and lose you r initial bet of £1.00
1.055 - 1.00 = 0.055 profit
if they lose you gain £ 1.055 from the lay
and lose you r initial bet of £1.00
1.055 - 1.00 = 0.055 profit
You have already laid PSV, if you accept your friends bet.
If you back PSV with the 100 on the exchange you will win 84.55 after 5% commission, if PSV win.
You presumably want to cover the liability to your friend so you bet 100* 79/84.55 = 93.44.
So you make 6.56 either way....
If you back PSV with the 100 on the exchange you will win 84.55 after 5% commission, if PSV win.
You presumably want to cover the liability to your friend so you bet 100* 79/84.55 = 93.44.
So you make 6.56 either way....
You don't. He is your friend, not a money making opportunity. You simply point him to what odds you can get him, and put it on for him. You show him how to do it himself, as a friend would, and take advantage of any referral bonus where he isn't out of pocket anything from a pretend friend.
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