I did post this to another thread but have not got a reply, i need the formula for laying two horses in the place market, now i know i can't make a profit if they are both placed but if one of them is placed i would like to return a set profit plus the liability lost on the other runner.

For example 2 runners priced @ $1.50 and $1.70

If the $1.50 horse runs a place the other horse will retun me say $10 plus the liability i had to pay out on the plaed horse.

Hi Shaun
One way to getting close to squeezing a profit would be to bet to price.

This is done by dividing the price into a set amount.
E.g. Set Amount $10
Horse A $1.50 divided into $10 = O/L 6.66 = Liability(payout) -3.34 if it places
Horse B $1.70 divided into $10 = O/L 5.88 = Liability(payout) -4.12 if it places

Total amt placed= $12.54 & potential profit if both fall over for us.

-$7.46 total liability (payout) if both get placed instead of falling over.
We keep the original $10.

We deduct the Liability from the profit.
If Horse A gets placed & horse B falls over= Liab 3.34 - 5.88 = +2.54 profit.
If Horse B gets placed & horse A falls over= Liab 4.12 - 6.66 = +2.54 profit.

If you use Bet Trader Pro the calculations can be done for you using their Dutching program for lay betting which calculates the bets as stated above.

They call it the Bookmaking facility.
Just enter $10 in the box at the top.


Cheers.

__________________
Cheers.

Thanks mate i should have just asked you first, knew you would know it.

If i needed a set return i can just adjust the set amount up until i reach the required amount, and i use fairbot they also have somthing similar i think.

I just had a look at fairbot they don't offer the lay option on the place in the dutch format, i guess i can do it manually

Hi Shaun,
Why dont you just download the free Bet Trader Pro
(Google) Racing Traders.com

The Fairbot program is different to Bet Trader Pro. & would not suit your application.

Cheers.

__________________
Cheers.

It is difficult to have it as a set return without outlaying massive amounts because you are using odds on prices.

It would be a lot wiser to have a set return amount as mentioned in the previouse post , this includes ones outlays . Rather than a set profit amount.

Do it manually as previously mentioned or use the free Bet Trader Pro to do it for you.

Cheers.

__________________
Cheers.

I stopped using bet trader because of the api calls, have they improved it so i won't be charged, and is there a feature on there to see how much i am using.