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I am creating a simple betting calculator in excel.
so $50 @ odds of 5 gives a lay of 58.82352941 [Lay amount =Backbet * ( (Back odds-1) * (1-back commission) + 1 ) / (lay odds-lay commission) ]
And so if I bet on exchange and a bookmaker I'd need to bet $5.88....
My question is how do I calculate my bet so that the bookmaker equals zero and then it calculates that new profit. And vice versa, exchange to bookmaker. How do I calculate the lay amount so that the profit of bookmaker/exchange equals zero rather than just doing standard matched bet.
Similar to.... [image]
so $50 @ odds of 5 gives a lay of 58.82352941 [Lay amount =Backbet * ( (Back odds-1) * (1-back commission) + 1 ) / (lay odds-lay commission) ]
And so if I bet on exchange and a bookmaker I'd need to bet $5.88....
My question is how do I calculate my bet so that the bookmaker equals zero and then it calculates that new profit. And vice versa, exchange to bookmaker. How do I calculate the lay amount so that the profit of bookmaker/exchange equals zero rather than just doing standard matched bet.
Similar to.... [image]
