Formula for cancelling/revrsing lay bet
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Hi
I want to cancel a lay bet (there’s no back bet).
I’ve layed £100 @5 Back odds are 4.8. How much do I need to back to minimise loss. 2% commission.Liability £400
+0September 20, 2016 at 5:38 pm
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£103.75 back bet at 4.8 will give you a loss of £5.75 either way assuming 2% commission.
I just use the calculator and plug in different back stakes until the lay stake or liability shows what I need. Haven’t got the formula to hand, but it isn’t difficult to work out.
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Formula is:
BS= LS(LO-C)/BOBS Back Stake
BO Back Odds
LS Lay Stake
LO Lay Odds
C Commission+0£104.17 would give -£4.17 loss win or lose.
If you have an iPhone there is an app called ‘sports trading calculator’ by Bruno pereira which allows you to calculate lay to back.
+0You can also calculate lay to back on this site. Just fill in the lay side first and then put in the back odds and click calculate
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Markk is correct.
Commission is irrelevant if both bets are on the exchange. Formula is something like:
Back = (x/y)*Lay
where x = Lay odds, y = Back odds (both in decimal).
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Yep. I’m an idiot.
I can’t even edit the post now.
Oh well. I tried and I failed.
The lesson is: never try (Homer J Simpson).+0
Cheers – the commision did throw me too., otherwise too simple!
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