How much is 6.5%?

[moeee]

When I am faced with Odds of say , $4 Fixed , and say $4.20 on Betfair , I need to know which is the best Value.

What is the Formula that converts Betfair Odds into Odds after deductions?
I wish to place it in my Excel Sheet.

[Lord Greystoke]

Try $4.20 (Betfair) x 0.935 = 3.927 ?


LG

[Raven]

Almost

((($4.20-1)*0.935)+1)

[moeee]

I see.
What was concerning me was that the 6.5% only applied to the winning portion of the Wager and did not include the initial investment.
So I was figuring maybe it wouldn't be so obvious as 0.935 times the advertised Price.

EDIT ;
Didn't see your post Raven - that sounds a little more like it , but all them brackets confuse me :(

[Lord Greystoke]

Yup.

Cant believe I cocked that up,
Have been performing that little calc in my head,
Most of my adult lifetime in other markets!

Thanks raven

PS Should have recognised you over there,
Black bird tapping on a calc with beak

[moeee]

Unconfused
Thanks Raven!!

[Shaun]

Stick this in excel
Your best fixed price in cell A1
BF Fixed price in cell B1
Your current betfair percentage in cell C1
in D1 put =(((B1-1)*0.935)+1)

[moeee]

Your current betfair percentage in cell C1

yeah - I'm good now thanks to raven.
But isn't the Betfair percentage the same for everyone?
Or perhaps BIG bettors get a discount.
I'm sure I don't , and I'm sure I'm not a big bettor and prolly never will be.

[Shaun]

Yes the min is 3.5% but 2% for UK with out the 1.5% thanks to the TAB

[moeee]

So just to ease my wondering , I'm gonna go see my rate , but in case I can't locate it , could you tell me the procedure to find out please Shaun?

[moeee]

So just to ease my wondering , I'm gonna go see my rate , but in case I can't locate it , could you tell me the procedure to find out please Shaun?
Yep - found it
Current Discout rate - 2% means I am on 6.37%