I'm trying to combine a couple of formulas (or is that formulae?) together in a simple spreadsheet. They are both only back & lay bets, but I can't work out how to do the commission calculations on the second one.
I managed to get a lot of it done using an online equation simplifier/solver but I can't seem to get any sense out of it for this last bit!
It's probably down to me not knowing what I'm doing (as usual ) and I'm sure it should be straightforward, I just can't get my head round it and get the numbers to add up.
Help, someone, please?
Can anyone help me with some basic maths?
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Re: Can anyone help me with some basic maths?
The commission is on the net profit in the market, so it's not just the back and lay - it's all the back and lays in a market.
What I do is calculate the profit in the market, then apply the commission calculation to that profit
What I do is calculate the profit in the market, then apply the commission calculation to that profit
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- Posts: 635
- Joined: Fri Mar 06, 2015 2:12 pm
Re: Can anyone help me with some basic maths?
Hi Martin,
You've just made me realise things are a little more complicated than I first thought
There are four bets, in three different markets - so a 'worst case' scenario (to make the calcs easier) would be to treat them as four separate commissions, although (and this is where the problem lies) the bet sizes are altered to balance return regardless of outcome; this means the commission on one market affects the bet size in another, and so on... hence the dilemma.
If you were to place two of the four bets with a bookie (instead of one), the spreadsheet should work as-is, but splitting these into one bookie bet and one exchange bet, the return should be better (if I can only get the calculation to work, LOL).
You've just made me realise things are a little more complicated than I first thought
There are four bets, in three different markets - so a 'worst case' scenario (to make the calcs easier) would be to treat them as four separate commissions, although (and this is where the problem lies) the bet sizes are altered to balance return regardless of outcome; this means the commission on one market affects the bet size in another, and so on... hence the dilemma.
If you were to place two of the four bets with a bookie (instead of one), the spreadsheet should work as-is, but splitting these into one bookie bet and one exchange bet, the return should be better (if I can only get the calculation to work, LOL).
-
- Posts: 635
- Joined: Fri Mar 06, 2015 2:12 pm
Re: Can anyone help me with some basic maths?
Your comment gave me another idea...
I had thought of combining the two back bets, but churning it around my head made me realise that I was effectively putting a back bet and a lay bet on the same market. Subtracting one from the other means I have one commission calculation less to be concerned with; in fact I now have something that works close enough for everyday use - for the small bet sizes it was meant to work with, it balances to within a few pennies.
Cheers for the prod, Martin.
I had thought of combining the two back bets, but churning it around my head made me realise that I was effectively putting a back bet and a lay bet on the same market. Subtracting one from the other means I have one commission calculation less to be concerned with; in fact I now have something that works close enough for everyday use - for the small bet sizes it was meant to work with, it balances to within a few pennies.
Cheers for the prod, Martin.
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