Maths Formula Needed

[Shaun]

I am running some tests and need a formula that i just can't work out, here is the situation i have.

I lay a runner for $20 then lay each other selections for a liability of $30, a lot of the time i make a profit on the other selections but sometimes there is no profit on any selection.

What i need is a formula to insure i get a profit on the other selections, what would be the best way to do this.

[moeee]

I don't know the answer , but surely if the return is less than the total outlay , then that would be a bad situation.

I figure just adding up the total collects and comparing them to the possible payout on individual animals would be the answer.

[Bhagwan]

The reason for that is because $10 lay bet won instead of falling over.

The idea of the $10 lay bet is to reduce the overall Liability & it sounds like its doing its job if it breaks even , otherwise there could have been a loss if one did not do it the way you do it.

If you want the others to show a profit , then drop the $10 lay bet, but now one is exposed to much greater liability if any of those bite you & will take longer to recover.

[Chrome Prince]

I am running some tests and need a formula that i just can't work out, here is the situation i have.

I lay a runner for $20 then lay each other selections for a liability of $30, a lot of the time i make a profit on the other selections but sometimes there is no profit on any selection.

What i need is a formula to insure i get a profit on the other selections, what would be the best way to do this.

Providing the market is 100% or more, the easiest way is to adjust your $20 stake up or down according to the price of the runner.
The shorter the price of your lay selection, the more likely you are to lose on the other runners betting this way because your liability is a lot less on a short price when using fixed stake of $20. (than the $30 liability on the others).

I think I know what you're trying to do with this method, it's something I've investigated myself.

[Shaun]

It is a bit hard to explain what i am doing with out giving to much information away, i have worked far to long on this project.

I know it is a percentage type answer that i am looking for because this is an automated type system i need my sheet to work out the correct answer on it's own.

I may send you an e-mail on this Chrome.

[lomaca]

I am running some tests and need a formula that i just can't work out, here is the situation i have.

I lay a runner for $20 then lay each other selections for a liability of $30, a lot of the time i make a profit on the other selections but sometimes there is no profit on any selection.

What i need is a formula to insure i get a profit on the other selections, what would be the best way to do this.
Hi Shaun, I don't lay bet at all and quite honestly don't really understand the finer points of it.

However your problem is simply of odds, you cannot bet a set amount regardless of prices!

If you left out the $20 bet it would possibly work most of the times depending on odds again, but in this case you have to write a formula that automatically adjust the bets on the other runners to make sure that you either break even or win, whichever event occurs.
That shouldn't be too hard except I don't know if your bot could handle it?

Good luck with it

[lomaca]

Hi Shaun, I don't lay bet at all and quite honestly don't really understand the finer points of it.

However your problem is simply of odds, you cannot bet a set amount regardless of prices!

If you left out the $20 bet it would possibly work most of the times depending on odds again, but in this case you have to write a formula that automatically adjust the bets on the other runners to make sure that you either break even or win, whichever event occurs.
That shouldn't be too hard except I don't know if your bot could handle it?

Good luck with itPS,
of course you'd run into a liability issue, I don't know if you can set the $30 and still vary the individual amounts, shouldn't think so?

[jose]

Shaun, wrong forum for questions like that. You will end up giving away your whole edge. As a few on here know, it doesn't take much to turn a profitable edge into a non-profitable one.
Do yourself a favour and try a "maths" or "excel" type forum. Most times the posters on them are more than helpful.

[kellmark]

Try this link from PPM, I use it occasionally. Bummer is you have to fill out your details to download it for their email database but you just unsubscribe later
Cheers.

http://www.practicalpunting.com.au/dutchbook/q2enwltzi.php

[Bhagwan]

If you want a program that can vary the liability on each runner I have found

Fairbot to be brilliant at doing just that.