Betfair

[Benny]

On unitab these are the current odds

Liverpool $2.10
Arsenal $3.40

However, I placed my bets on these 2 teams with betfair

Liverpool $2.24
Arsenal $3.70

What is my % gian by betting on betfair. Is there a formula to work this gain out.

[Crackone]

I would eg the difference between the Liverpool prices 14 cents,

14/210*100= 6.666% dif. (6.6% better price)

30/340*100= 8.82%
Then you have to take betfair Comm. into account.

[Chrome Prince]

On unitab these are the current odds

Liverpool $2.10
Arsenal $3.40

However, I placed my bets on these 2 teams with betfair

Liverpool $2.24
Arsenal $3.70

What is my % gian by betting on betfair. Is there a formula to work this gain out.

Unitab Percentage is

100/2.10 + 100/3.40 = 47.62 + 29.41 (77.03%)

Betfair percentage is

100/2.24 + 100/3.70 = 44.64 + 27.03 (71.67%)

You got 5.36% better odds, but don't forget 5% commission.

[Bhagwan]

Another way to work the difference is to convert it to fractional odds first ,then reduce the Betfair odds by 5% by multiplying it by .95

This adjusts the true comparison figure by the 5% BF com.
e.g.
BF (2.24) 1.24/1 x .95 = 1.17/1 (2.17)
TAB (2.10) --------------1.1/1 (2.10)
Diff .07 in fractional odds.
6.36% Diff

BF-----(3.70) 2.7/1 x .95 = 2.56/1 (3.56)
TAB---- (3.40) ---------------2.4/1 (3.40)
Diff .16 in fractional odds.
6.66% Diff

Now you have a price comparison to look at when placed next to the TAB prices.
Remember that one has to convert to fractional odds first to make it work.

[partypooper]

and now add in the % possibility of a DRAW,..... ooooooH! no thanks!

[Benny]

Thanks guys. By the way Arseanl won

[Benny]

Is there an excel formula for this.

[Benny]

How do I work out % gain for parlay betting.

I took a parlay with 2 teams.

Unitab odds are $3.70

Betair $3.76

[Bhagwan]

As posted before, convert the prices to fractional odds & go from there.

[jfc]

If your odds are in Column A, then

=HARMEAN(A:A)/COUNT(A:A)

gives you the effective combined odds.

And easily answers the initial question.

Note that can combine more than 2 odds.