Betfair
 

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.

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.

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.

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.

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

Thanks
 

Thanks guys. By the way Arseanl won

Excel
 

Is there an excel formula for this.

Parlays
 

How do I work out % gain for parlay betting.

I took a parlay with 2 teams.

Unitab odds are $3.70

Betair $3.76

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

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.