wesmip1 |
7th January 2011 07:48 AM |
Quote:
Originally Posted by The Ocho
Thanks very much wesmip1 for the 2 files. They are very much appreciated.
I have a stupid question (which may probably qualify for the stupidest question on here, ever) which I think I would normally have the answer for but I think my brain's fried as I'm coming to the end of my 2 weeks holidays tomorrow.
Going through some data supplied by wesmip1 I've come across the following:
This is for backing with $1 level stakes
Selections: 1131
Winners: 205
Losers: 926
I take it that's a 18.1% strike rate.
Now comes the part I'm not sure about.
The winners have paid 1110.55 on Betfair.
Taking away the 5% commission takes it down to $1055.03
Now, do I take away the $1055 from the number of selections (1131) or do I subtract the losers ($1 x 926 losers = $926) from the winners ($1055)?
If from the selection numbers then this is a loss but otherwise it is a $126 profit (which isn't much for the amount of selections but at least it's something).
Basically, I think I'm getting mixed up about when to add or subtract my $1 stake for each selection.
I would be grateful for any for my fried brain. Thanks.
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The answer is it depends. So here is the answers. If you want to bet it then out work it out as follows (assume its a betfair return of 1155 not 1110.55?):
( return - winners ) *.95 +winners = bet return after 5% commission
Example : (1055 -205) *.95 + 205 = 1012.50
So considering there was a 1131 selections this shows a loss.
If you were laying the selections y0ou work it out this way:
(selections - winners) *.95 + winners = lay return after 5% commission
Example : (1131 -205) *.95 + 205 = 1084.70
So in this case the outlay was $1055 so you made a small profit.
HOpe that helps.
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