Book% conditions?

[goat68]

Can I just clarify what Back Book% means please? is it for example a 6.0 odds would be 16.6% ?

[jamesg46]

Can I just clarify what Back Book% means please? is it for example a 6.0 odds would be 16.6% ?

Yes.

[Thebest147]

That's implied chance totally different,

[goat68]

one says yes, the other no...! who's right?

[goat68]

User Guide not helpful!
The Back Book% of the Market - Will store the current back book%

[goat68]

Or is Book% the same as Implied chance ?

[jamesg46]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

[goat68]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

[jamesg46]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

Spot on goat.

[goat68]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

Spot on goat.

thanks

[goat68]

I think what is mentioned above is wrong, as i've just come across this under the Automation Shared Files:
"Scalp Tight Book% or Scratch in Loss Guardian Automation Bot"
viewtopic.php?f=53&t=13176
quote: "The bot will target the favourite and place a £10 lay bet when the lay book% is over 99.2%.."
So are you telling me this bot places a lay pre-off when the fav odds are 1.008 ?!
Also, in the one of the replies, it quotes: "The back should be above 100%, so to mirror your lay it would be less than 100.8 %."
So obviously Book% is not the same as "implied probability"...

So what is it please?

I'm trying to think along the lines of bookie book overround, so a back total book% can be say 105%, ie.the sum of the implied probabilities, but even with this it would imply the bot laying a horse at odds around 1.06...
and also looking at some other replies, indicate the bot triggering a horse at odds 2.27 ! that would be a back book% of around 44% to me?
I'm missing something here?

[Derek27]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

Payout, is another term for book percentage. 100% represents the payout of the bet and you need to payout the same amount on each horse if you're backing or laying the entire field.

[goat68]

1/6.0 is 16.6% which is implied probability. The Back Book % is the odds as a % - the odds is a probability.

Same as VWAP Book % its the VWAP as a %.

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

Payout, is another term for book percentage. 100% represents the payout of the bet and you need to payout the same amount on each horse if you're backing or laying the entire field.

Thanks Derek, so the payout of a horse at odds 2.0 (1/1) is the same as your bet size. Thus book% is actually 100/(odds-1)
So a 1.5 odds horse book% is 200%
So totally NOT implied probability
Thank you
I would suggest updating the BetAngel User Guide with that crucial bit of understanding.

[Dallas]

I think what is mentioned above is wrong, as i've just come across this under the Automation Shared Files:
"Scalp Tight Book% or Scratch in Loss Guardian Automation Bot"
viewtopic.php?f=53&t=13176
quote: "The bot will target the favourite and place a £10 lay bet when the lay book% is over 99.2%.."
So are you telling me this bot places a lay pre-off when the fav odds are 1.008 ?!
Also, in the one of the replies, it quotes: "The back should be above 100%, so to mirror your lay it would be less than 100.8 %."
So obviously Book% is not the same as "implied probability"...

So what is it please?

I'm trying to think along the lines of bookie book overround, so a back total book% can be say 105%, ie.the sum of the implied probabilities, but even with this it would imply the bot laying a horse at odds around 1.06...
and also looking at some other replies, indicate the bot triggering a horse at odds 2.27 ! that would be a back book% of around 44% to me?
I'm missing something here?

People seem to be talking at cross purposes over this, the terminology page of the user guide should clear it all up (relevant parts are near the bottom of the list)
https://www.betangel.com/user-guide/terminology.html

[Derek27]

right so same thing:
dec odds = 6.0
Implied probability = 16.6%
Odds as a % = 16.6% = Back Book%

Payout, is another term for book percentage. 100% represents the payout of the bet and you need to payout the same amount on each horse if you're backing or laying the entire field.

Thanks Derek, so the payout of a horse at odds 2.0 (1/1) is the same as your bet size. Thus book% is actually 100/(odds-1)
So a 1.5 odds horse book% is 200%
So totally NOT implied probability
Thank you
I would suggest updating the BetAngel User Guide with that crucial bit of understanding.

No, the user guide is correct. Book % staking involves dividing decimal odds into stake. So £50 stake would be £25 on a 2.0 and £41.67 on a 1.2. Those stakes on an even money or a 1/5 would return £50. It can also effectively be used to find appropriate stakes when betting or trading because you generally use larger stakes on shorter-priced horses. The problem with using tick size is that your stake doubles or halves simply because you've crossed a crossover point.