Sports Arbitrage Formuls

[qcan]

Hi,

I am looking for a couple of formulas in exce that can be used to
calculate an
arbitrage in sports wagering.


Example 1.


An even split based on a 1000 dollar total wager divded between both
sides.


- Side 1 odds = +110
- Side 2 odds = +150


I know that one would have to wager $ 543.48 on side 1, in order to
get a return $ 1141.31
I also know that a wager of $ 456.52 on side two in order to get a
retrun of $ 1141.30


In other words a 14.13 % profit would be generated evenly no matter
which side won.


Example 2.


The same as example 1 except I want to maximize side 1 while breaking
even on side 2. To clarify - this would mean that all the profit
would
go to side 1 should side 1 win. If side 2 wins - I would break even.


Using 1000 dollars again (actually 1140 dollars so that it's even),
with the same odds as the first exmaple - I know that


- $ 684.00 would have to be wagered on side 1 and $ 456.00 would
have
to be wagered on side 2.


If side 1 wins - I would get back a total of $1436.40 (meaning a $
296.40 profit)
If side 2 wins - I would get back exactly the total money wagered on
both sides (1140 dollars) and break even.


I have no idea how to express these two examples into a formula.
Further, the formula(s) might be different when the favorite is
actually below -100.


I hope I made some sense. I will try and clarify should there be any
questions.


Anyone ?


Thanks !!

 

[GS]

<FYI>
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Doing it the way you have you'll have to bounce back & forth beteen the
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[qcan]

<FYI>
It would be more helpful if you cross-post instead of single-posting in
separate forums. You cross-post by specifying multiple groups in the
'Destination (Group)' field.

Doing it the way you have you'll have to bounce back & forth beteen the
groups to view your replies. With cross-posting, all groups are updated
whenever any group is replied in.

--
Garry

Free usenet access athttp://www.eternal-september.org
ClassicVB Users Regroup! comp.lang.basic.visual.misc

Thanks for that tip Garry. I will do that next time.