How to calculate total spent and payout and estimating if exchange wins correctly using excel.

500 at 7 odds gives me $3500 [Bookmaker]

Lay at 933.33 at 3.8 gives me $3546.6667 [Exchange]

With a liability of 2613

Total spent is 3113

So if bookmaker wins:

Total spent

3500 (payout) 3113 (total spent)

= 387

If bookmaker wins

Exchange

Payout total spent gives me

3546 - 3113

= 433 [Incorrect value].

How do I incorporate the 5% commission as this seems very incorrect.

[Exchange]

The payout is lay bet * lay odds

And the lay bet was calculiated by Lay amount = (Back stake*Back odds*back commission) / (Lay odds Lay commission)

Any ideas why its doing this?

]]>500 at 7 odds gives me $3500 [Bookmaker]

Lay at 933.33 at 3.8 gives me $3546.6667 [Exchange]

With a liability of 2613

Total spent is 3113

So if bookmaker wins:

Total spent

3500 (payout) 3113 (total spent)

= 387

If bookmaker wins

Exchange

Payout total spent gives me

3546 - 3113

= 433 [Incorrect value].

How do I incorporate the 5% commission as this seems very incorrect.

[Exchange]

The payout is lay bet * lay odds

And the lay bet was calculiated by Lay amount = (Back stake*Back odds*back commission) / (Lay odds Lay commission)

Any ideas why its doing this?

Dear Members,

I'm betting on football(soccer) matches. I would like to bet before kickoff, and then after the first goal close my positions.

My system would be on match odds:

Pre kickoff: back Home e.g. 10@2.00, lay Draw e.g. 10@3.5, lay Away e.g. 10@3.00

After first Home goal the odds are e.g.: 1.40 , 6.5, 8.00 respectively

How can I calculate, how much amount I have to bet on each position in order to equally distribute the profit? Could somebody explain me?

]]>I'm betting on football(soccer) matches. I would like to bet before kickoff, and then after the first goal close my positions.

My system would be on match odds:

Pre kickoff: back Home e.g. 10@2.00, lay Draw e.g. 10@3.5, lay Away e.g. 10@3.00

After first Home goal the odds are e.g.: 1.40 , 6.5, 8.00 respectively

How can I calculate, how much amount I have to bet on each position in order to equally distribute the profit? Could somebody explain me?