Formula to equalize acca profit
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Hi, I just recently got into matched betting. I’m laying off five and six fold accas in order to profit from the free bet refund when just one fails.
I have seen spreadsheets which calculate stakes such that you make a decent profit should you earn the free bet but a small loss in all other eventualities. I would really like to see a spreadsheet or better still know the formulas for equalizing the profit no matter the outcome.
I do have access to such a tool in a web based software, however I would really like to incorporate it into a vb program I have written to manage all of my matched betting including results etc. It would also allow me to quickly calculate lay stakes for a leg that I might have in as many as ten or more accas at once without having to go and do them all individually.
I’m pretty good at maths but I can’t fathom the formulas needed! Anybody have any ideas??
Many thanks
Rick
+0December 14, 2016 at 12:00 pm
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+0I signed up to oddsmonkey this month randomly as they had an offer on for only £15 / month. Turns out they actually have a really nice tool to do this, nice interface and everything etc.
I know most people on here will say why not just make your own Excel sheet, but I find it quite nice having something reliable that does it for you – plus obviously access to their oddsmatcher, e/w matcher etc.
+0I don’t know how you can guarantee profit on an acca. Or equalise profit on the acca insurance. I’ve never really bothered getting my head around it as I just never bothered laying them, just took the long term value approach. I understand sequential lays etc but to adjust stakes for equal profit or guaranteed profit i never bothered. But if I take this to the shops then I could have huge liabilities and its not an option any more to just leave the variance average out.
For a £50 acca refund offer. You have spent £50 in the bookie to qualify.
1. If you lay the full £51.02 on the first leg to reclaim the bookie loss then when the first leg wins your liabilities will start growing too high by the time you get to the end.
2. If you lay less than the £50 then when the first legs wins you are down a little bit. But you have the value in the potential of a free bet to make up the small loss. But how to unlock or extract the value in the potential free bet is another thing. The work required to extract this value too would mean you would be probably laying small amounts on the acca even after it is dead.
Can someone give an example of oddsmonkey or an online tool that does this.
For example of what I mean if you start with a £50 acca first leg is 5/5.1 and then next four legs are 1.2/1.25. Total bookie odds is therefore 10.37 and return would be £518. Probability it wins based on exchanges lay odds is 8% and probability only one leg loses would be 40%. The value of the actual acca is (probability it wins * payout if it wins) £41.63. The value of the free bet offer is (probability you qualify for free bet * value of free bet) £16.38. So in total its a value bet, you have about £58.01 expected value.
If the first leg wins the value of the acca goes up and the value of the free bet offer changes too, either up or down as it can become less likely you hit the free bet. So you can equalise the first lay so that the value you have is the same either way – win or lose.
So lay £41.80 @ 5.1. If the leg wins then you are £171.38 down plus the £50 you spent on the acca – but the acca is likely still worth about £212.34 (based on payout and probs) and free bet offer still worth £16.38 (based on value and prob) – so your position would be +£7.34. If it loses then you are £40.96 up (your stake minus commission). You are £50 down that you spent in the bookies (now lost). But you have 4 short legs which if all win (40% prob) you have free bet – this is still about £16.38 in value – so your position is again +£7.34. Same value whether first leg wins or loses.
But these positions are all contingent on being able to extract value from the “potential” of winning a free bet. And the value will differ slightly depending on which leg loses. I don’t see how it’s possible to over lay the first leg to realise instant profit if the first leg loses and still keep your liabilities down enough to be able to lay to the end with still profit…
Can someone give an example of what the online tool says that you should lay for an acca like 5/5.1 and then four 1.2/1.25? Do you still continue to lay small amount to realise the potential of winning a free bet even after one leg loses?
What do ppl mean when they say guaranteed profit on acca’s?
+0Sorry for the long post. This is what I want to know in a nut shell:
Can someone give an example of what the online tool says that you should lay for an acca like 5/5.1 and then four 1.2/1.25? Do you still continue to lay small amount to realise the potential of winning a free bet even after one leg loses?
+05/5.1 and four 1.2/1.25
Profit, £6.48. (£50 stake, your odds aren’t that tight)
Laying £41.19 on the first leg.
If it wins, lay £209.31 on second leg and expanding with every consecutive win.
If it loses, lay £16.45 on second leg and expand with every consecutive win.
Any point you have 2 losses, stop laying and you’re still in profit.Don’t ask me how this works, I just blindly follow the sheet and the profit logs (little I have had, making an effort now) do show good stuff.
Hope this helps.
+0What are the shop odds like? Are they wildly different from online.
Can you take odds in decimal.
How do the free bets work on the insurance in the shops? Can I win a free bet from one bookie and use it in another (obviously same company).
+0Thanks felt. Makes sense. So you do have to keep laying your acca even after the first leg loses – until you have two losses. In that case my numbers are close enough – probably just need to account for commission on the free bet value.
mwilks. I have done the paddy power shops before, you have to take the matches on the coupon which can be limitting but at the same time they have all the popular matches like Bayern, Barca, Celtic, Chelsea, Man City, PSG etc who are usually good odds. The odds are printed in fractions but you can just convert to decimal (15/8 in fraction convert to 15/8+1 = 2.875). The free bets work by handing in your losing acca bet slip and they hand you back a coupon. You can use the free bet in any paddy power but i think its best to use it in the shop you won it as it might be suspicious if you start spreading it around.
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Hi
Yes, it’s basically like felttip says – you start by laying off the acca and once you have a loser you start laying off the expected profit from the free bet. After the second loss, you stop laying.
You are right, it is undoubtedly better in the long run to just go with the bookies and forget about laying – I’ve been doing this about a month or so and lost more than 3k on the exchanges while destroying the bookies. To be fair an extremely high number of favourites have won in that period which won’t always be the case of course. I went the way I went because I wanted the reassurance of knowing that I would have a straight line profit graph rather than a roller coaster which knowing my luck would be a Big Dipper lol.
Like I said in my OP, I do have access to a very good online tool which works these stakes out for me – but it would be much easier quicker and more convenient if I could get the formula into my own program. It’s certainly not worth £500 to me (felttip!) as I already have access to the figures, it would just be nice to get sorted the way I want it.
Thanks for responding to my post.
+0On a sequential lay, anyway of reducing loss if odds of each leg moves against you?.
+0sleepless, i dont know – i think its just a risk you have to take. Pick close odds so that its less of a risk. And pick meaningful games – you dont want to be caught by a manager deciding to rest his star players. Pick big games too as there will be more money on these and harder to move the odds. And go for games as close together as you can – dont want to have the last leg a week in advance, a lot can happen in a week, injuries etc.
Rick, I think I have the formula figured out but just have to tweak it a bit to take account of commission which might be trickier than it sounds. If it helps you, the way I figure it out is I figure the value of the potential acca payout and the value of the potential free bet after each leg. I figure it out twice, once assuming the leg will lose and once assuming the leg will win. Then I figure out my lay stake to equalise both outcomes.
I might spend more time on this tonight – I want to have something if I hit 10 paddy shops with the same couple of acca I need guaranteed profit (if I find the right odds should be making £5 to £10 per shop per acca), can’t just throw £1000 out there and leave it to variance. I think I can get 2 acca’s by 10 shops by £10 = £200 per day. Shouldn’t be hard making it to 10 shops in one day.
+0Yeah I do all that FOG – still get my FB’s wiped out, especially when I win!. I usually get bookie odds just over 3, yet a small movement in lay odds against me can significantly increase my QL.
Think you are right about punting. Looking back I’d be quids in rather than laying+0Haha. Im not right about punting. Im lazy about punting. Take last weekend just gone, Real Madrid (1.111) wiped out 3 of my acca’s and Sporting Lisbon (1.363) wiped out the other. Down £100 hard cash and up £75 in free bets lessens the blow. But its a roller coaster ride riding the variance.
+0Correct match betting principals is definitely LAY. I don’t want to be responsible for anyone losing 100’s on unlayed acca’s. Favourites lose every day.
Two weeks ago I had an odds on favourite 3-0 at HT up and still 3-1 up with 10 mins to go. They went on to draw. They were 1.25 prematch. Ten mins to go you could have got 100/1 for the draw.
+0So Rick this is what I have. Illustrated with an example. There is a formula right at the end that you can use if you make it that far!!!
Leg 1: 5/5.1, Leg 2: 1.2/1.25, Leg 3 1.2/1.25, Leg 4 1.2/1.25, Leg 5 1.2/1.25
Bookie Stake (S) = £50.
Bookie Return (R) = £518.40.
Lay1 (L1) = 5.1
L2 = 1.25
L3 = 1.25
L4 = 1.25
L5 = 1.25
Commission (c) = 0.02
Extraction (e) = 0.80So I am going to adjust the lay odds to account for commission, to give the effective lay odds.
E1 = (L1 – 1) / (1 – c) + 1 = (5.1 – 1) (1 – 0.02) + 1= 4.1 / .98 + 1 = 5.18
same for E2 to E5. All the same in this example E2 = (1.25 – 1) (1- 0.02) + 1 = 1.26And I will use these effective lay odds to work out the probabilities adjusted for commission which will give the right value of the bets according to the value that we can extract taking commission into account.
So P1 = 1/E1, P2 = 1/E2 etc..
Filling in we get P1 = 0.1929 and P2=P3=P4=P5=0.7967
I am going to split the value that we can extract from the acca into 2 parts – 1st part based on the actual value of the bet, 2nd part based on the value of the potential free bet.
Part 1 = Probability win * value of win = R * P1 * P2 * P3 * P4 * P5
Part 2 = Probability you get a free bet * value of free bet
= (P[only leg 1 loses] + P[only leg 2 loses]+…+P[only leg 5 loses]) * S * e
= ((1-P1)*P2*P3*P4*P5 + (1-P2)*P1*P2*P4*P5 + .. + (1-P5)*P1*P2*P3*P4) * S * eTotal Value of Acca = Part 1 + Part 2.
Profit (P) = Part 1 + Part 2 – Bookie Stake.
Now if the first leg loses then the value of the potential free bet is easy to calculate – you need all next 4 legs to win to get the free bet (P2*P3*P4*P5) and if they do the value is S * e. So expected value (=possible for us to extract) is FB = (P2*P3*P4*P5)*S*e.
So we want to set Lay Stake 1 (LS) so that if it loses we still make profit P.
So P = FB + LS * (1-c).
Right so rearrange …
LS = (P – FB) / (1-c)
And fill in
LS = (([R * P1 * P2 * P3 * P4 * P5] + [ ((1-P1)*P2*P3*P4*P5 + (1-P2)*P1*P2*P4*P5 + .. + (1-P5)*P1*P2*P3*P4) * S * e] – S) – P2*P3*P4*P5 *S*e ) / 1 – c
Or something like that maybe. That’s what I have.
So to complete the calcs based on the example
LS = (([518.40 * 0.192913 * 0.796748 * 0.796748 * 0.796748 * 0.796748] + [((1-0.192913) * 0.796748 ^ 4 + 4 * (1-0.796748)*0.192913*0.796748^3) * 50 * 0.8) – 0.796748^4*50*0.8) / (1 – 0.02)
= 41.1877 (dont believe me? then copy and paste the number into google)
Which is close enough for me to the answer that feltip suggests that odds monkey calculates.
You can figure out the other lay stakes with similar formula – just need to recalculate the value of the actual bet and the value of the potential free bet as it will change as the legs win.
If one leg loses then calculate what you need to lay based on the laying enough to win P taking into account all you have already lost/won.
+0Jeepers FOG did you just write this out yourself?.
How long did it take?. I assume you’ve some maths qualification.Right or wrong this is impressive – what’s your job?.
+0
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