Clarity on the term, 'turnover'

[sebturner]

Hi all,

I'm new to trading and the forum and I'm hoping someone can help me clarify the terms 'turnover' and 'traded volume' in a sports trading context.

Let's assume the event is a football match and we're backing under 2.5 goals with an initial stake of £10 @ 2.00. The price shortens and we proceed to offset our risk in 20% increments (i.e. laying £2 at a time until our risk is 0). Finally we spread the profit with a final lay bet and our overall matched bets are as follows:

Back £10 @ 2.00
Lay £2 @ 1.95
Lay £2 @ 1.90
Lay £2 @ 1.85
Lay £2 @ 1.80
Lay £2 @ 1.75
Lay £0.86 @ 1.75

Our profit, regardless of outcome is £0.86.

Can someone please help me identify our turnover and (assuming they're different) our traded volume from this example, and most importantly, the formula for working them out?

Many thanks in advance!

[Dallas]

Turnover is the traded volume / amount matched, on Betfair this is always made up of 50/50 back and lay bets no matter what the price the bets are matched at.
So in your example if they all got matched that would be a total of £20.86 so would of increased the market turnover (traded volume) by £41.72

£20 matched at 2.0
£4 matched at 1.99
and so on

[ShaunWhite]

Or to put it another way, your personal turnover is just your sum of matched stakes (backs and lays). Someone on the other end obviously sees the same matches (afterall it's an exchange) and Betfair count both your and their matches in the overall traded volume figure.

[sebturner]

@Dallas and @ShaunWhite - Thank you so much for your speedy responses. Your combined answers provided me with the clarity I was seeking, and that's much appreciated!