Hey all,
So I have a spreadsheet that is setup to automatically calculate my profit from trades and I have it setup so that if the back bet wins, it'll calculate it as back profit - Lay liability 1 - Lay liability 2 - etc = profit if back bet wins.
So I've just completed a trade on the lay the draw and have these 3 bets....
£2.00 Lay bet placed on The Draw at 5.8
Greened up The Draw by Backing £1.45 at 8
Greened up The Draw by Laying £0.03 at 10
So with these bets. If the back wins I should get (£1.45 x 7) - (£2.00 x 4.8) - (£0.03 x 9) = £0.28 but it's coming up with £0.58 which would be Back profit - lay liability 1 + lay profit 2 (0.03)
Can someone explain this as I'll need to try to adjust the spreadsheet so that it calculates the profit in all scenarios, cheers.
Question on back and lay bets on bet angel
It would be easier if you posted the cell formula that's producing the wrong results.ija34 wrote: ↑Sun Sep 11, 2022 12:40 pmHey all,
So I have a spreadsheet that is setup to automatically calculate my profit from trades and I have it setup so that if the back bet wins, it'll calculate it as back profit - Lay liability 1 - Lay liability 2 - etc = profit if back bet wins.
So I've just completed a trade on the lay the draw and have these 3 bets....
£2.00 Lay bet placed on The Draw at 5.8
Greened up The Draw by Backing £1.45 at 8
Greened up The Draw by Laying £0.03 at 10
So with these bets. If the back wins I should get (£1.45 x 7) - (£2.00 x 4.8) - (£0.03 x 9) = £0.28 but it's coming up with £0.58 which would be Back profit - lay liability 1 + lay profit 2 (0.03)
Can someone explain this as I'll need to try to adjust the spreadsheet so that it calculates the profit in all scenarios, cheers.
Hey, it's not the formula that's producing the wrong results. It's something to do with the bets being placed on bet angel. If the back bet wins then it should be back profit - total lay liability which is what the formula is doing. However, the actual result on bet angel is giving back profit - lay liability 1 + lay liability 2.
So the lay liability 1 is closing the trade when in profit so this bit is correct (back profit - lay liability) but then it's placing another bet to hedge across all results (this is lay bet 2) but on bet angel it's adding the lay stake to the back win which is what I don't understand. If it's a lay bet then it should subtract the liability if the back bet wins. I'll break it down a bit more below
Lay bet 1 - £2.00 on The Draw @ 5.8 (Profit = £2.00)(Liability = £2.00 x 5.8 - £2.00 = £9.60)
Back bet (close trade) - £1.45 on The Draw at 8 (Profit = £1.45 x 8 - £1.45 = £10.15)(Liability = £1.45)
Hedging - £0.03 Lay bet on The Draw at 10 (Profit = £0.03)(Liability = £0.03 x 10 - £0.03 = £0.27)
So ignoring the hedge right now. For the trade I get...
If back wins (result is draw) = Back profit - Lay bet 1 liability = £10.15 - £9.60 = £0.55
If lay wins (result is not draw) = Lay bet 1 profit - Back liability = £2.00 - £1.45 = £0.55
So this is equal and another bet shouldn't have been placed which I also don't understand. So including the hedge bet, it should be ,
If back wins = If back wins profit - Hedge lay liability = £0.55 - £0.27 = £0.28 (this should be £0.58)
If lay wins = If lay wins profit + Hedge profit = £0.55 + £0.03 = £0.58 (this is correct on my spreadsheet)
So when placing the hedge lay bet, it is adding the lay profit to both the back and lay wins which is what I don't understand.
When you back £[email protected] you're in a £10.15/-£1.45 position.
When you green up for £[email protected] your position is £0.55/£0.55.
Then, when you lay £[email protected], that leaves your position at £0.28/£0.58.
So £0.28 would be your draw position and £0.58 would be any other position.
When you green up for £[email protected] your position is £0.55/£0.55.
Then, when you lay £[email protected], that leaves your position at £0.28/£0.58.
So £0.28 would be your draw position and £0.58 would be any other position.
Well that's what I would have thought but bet angel is saying that I'm in a £0.58/£0.58 position and I've confirmed this by my returns on betfair. Confusing!! Had plenty other trades today that have done the exact same thing with one back bet and two lay bets. Like this log below, bet angel is saying I'll get £0.93 for draw or £0.96 for either team to win yet when I calculate it, I get £0.72 for draw or £0.96 for either team...Derek27 wrote: ↑Sun Sep 11, 2022 4:30 pmWhen you back £[email protected] you're in a £10.15/-£1.45 position.
When you green up for £[email protected] your position is £0.55/£0.55.
Then, when you lay £[email protected], that leaves your position at £0.28/£0.58.
So £0.28 would be your draw position and £0.58 would be any other position.
11/09/2022 23:55:00: [G_Auto 1] : £ 2.00 Lay bet placed on The Draw at 3.45. Fully matched at 3.45. Ref: 280457544396
12/09/2022 00:16:50: Guardian has detected that the market is in-play
12/09/2022 00:16:50: Guardian has detected that the market is suspended
12/09/2022 00:16:50: Guardian has detected that the market is now unsuspended
12/09/2022 00:17:28: Guardian has detected that the market is suspended
12/09/2022 00:18:38: Guardian has detected that the market is now unsuspended
12/09/2022 00:26:59: Guardian has detected that the market is suspended
12/09/2022 00:27:19: Guardian has detected that the market is now unsuspended
12/09/2022 00:44:14: Guardian has detected that the market is suspended
12/09/2022 00:44:27: Guardian has detected that the market is now unsuspended
12/09/2022 01:22:28: Guardian has detected that the market is suspended
12/09/2022 01:23:09: Guardian has detected that the market is now unsuspended
12/09/2022 01:29:22: Guardian has detected that the market is suspended
12/09/2022 01:33:01: Guardian has detected that the market is now unsuspended
12/09/2022 01:34:37: [G_Auto 1] : Greened up The Draw by Backing 1.08 at 6.4
12/09/2022 01:35:43: [G_Auto 1] : Greened up The Draw by Laying 0.04 at 6.4
There's always a small discrepancy between BA and Betfair but for me, it's usually just one or two pence. There's an even bigger discrepancy between what the Betfair page says I win or lose and what I actually get, I'd put that down to a large number of trades being rounded to the nearest penny.