Hi, I am looking for a couple of formulas 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 !! -- ---------------------------------------------------------------------------------- Some important links for excel users: 1. Follow us on TWITTER for tips tricks and links : http://twitter.com/exceldailytip 2. Join our LinkedIN group @ http://www.linkedin.com/groups?gid=1871310 3. Excel tutorials at http://www.excel-macros.blogspot.com 4. Learn VBA Macros at http://www.quickvba.blogspot.com 5. Excel Tips and Tricks at http://exceldailytip.blogspot.com To post to this group, send email to excel-macros@googlegroups.com <><><><><><><><><><><><><><><><><><><><><><> Like our page on facebook , Just follow below link http://www.facebook.com/discussexcel
