So after honing my Excel skills over the past few months I've completely revamped my football P&L spreadsheet but I think something maybe not quite right. If someone can offer some advice that's be appreciated
I've done the following calculations for each market:
Lay Bets Total - Back Bets Total = Market P&L (I lay then back to hedge)
Market P&L - Commission = Net P&L
Lay Bets Total + Back Bets Total = Market Turnover
Net P&L / Market Turnover * 100 = Edge
Issue I'm having is when I divide my Total Net P&L with my Total Market Turnover for all markets it shows a positive edge of 0.13% but when I sum the edge form each individual market it show's -2.47% but my P&L is positive
Hope that makes sense!
Calculating Your Edge
Summing the edges for each individual market is erroneous. Only a weighted average would be accurate.Michael5482 wrote: ↑Tue Jan 24, 2023 5:02 pmSo after honing my Excel skills over the past few months I've completely revamped my football P&L spreadsheet but I think something maybe not quite right. If someone can offer some advice that's be appreciated
I've done the following calculations for each market:
Lay Bets Total - Back Bets Total = Market P&L (I lay then back to hedge)
Market P&L - Commission = Net P&L
Lay Bets Total + Back Bets Total = Market Turnover
Net P&L / Market Turnover * 100 = Edge
Issue I'm having is when I divide my Total Net P&L with my Total Market Turnover for all markets it shows a positive edge of 0.13% but when I sum the edge form each individual market it show's -2.47% but my P&L is positive
Hope that makes sense!
For example, you could make a 3% loss when your turnover was just £10, but a 0.5% profit when your turnover was £1000. (10 * 3 + 1000 * 0.5) / (10 + 1000) = 0.525% approx, but a straight market average would give -1.25%.
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Yep that makes sense now you've explained it! Appreciate you assistance.Derek27 wrote: ↑Tue Jan 24, 2023 5:36 pmSumming the edges for each individual market is erroneous. Only a weighted average would be accurate.Michael5482 wrote: ↑Tue Jan 24, 2023 5:02 pmSo after honing my Excel skills over the past few months I've completely revamped my football P&L spreadsheet but I think something maybe not quite right. If someone can offer some advice that's be appreciated
I've done the following calculations for each market:
Lay Bets Total - Back Bets Total = Market P&L (I lay then back to hedge)
Market P&L - Commission = Net P&L
Lay Bets Total + Back Bets Total = Market Turnover
Net P&L / Market Turnover * 100 = Edge
Issue I'm having is when I divide my Total Net P&L with my Total Market Turnover for all markets it shows a positive edge of 0.13% but when I sum the edge form each individual market it show's -2.47% but my P&L is positive
Hope that makes sense!
For example, you could make a 3% loss when your turnover was just £10, but a 0.5% profit when your turnover was £1000. (10 * 3 + 1000 * 0.5) / (10 + 1000) = 0.525% approx, but a straight market average would give -1.25%.