Green up calculation

[karnage]

hi everyone
OK so I'm developing a system that trades on one of the first two favourites.

Lets say I've layed "Fat Chance" at 2.3 and backed it a few seconds later for 2.4, with a $10 stake. I get a $1 profit if this horse wins, but of course I want to profit if one of the other runners win.

I know the "green up" feature in Bet Angel would place a tiny lay bet on "Fat Chance" to ensure a (smaller than $1) profit on the other runners. What I d like to know is: how is this stake calculated?

Help enormously appreciated.

[Dallas]

Here you go
http://www.betangel.com/forum/viewtopic ... 47&t=13077

[mjmorris335]

If you Lay first: Hedged Profit = Profit/Back Odds

If you Back first: Hedged Profit = Profit/Lay Odds

HTH

Mike

[karnage]

cheers. Does this still work if I've already closed the trade? ie both the back and lay bets have been matched?

[karnage]

hey guys
So this isn't quite what I was after.

The link you provided is for how to calculate the stake in a situation where you have not yet placed the closing bet for the trade.
It calculates that stake so you can close the trade and green up with one bet.
What I'm after is the calculation for greening up on all the runners if you've ALREADY placed your back and lay bets and you have a profit on one runner. I've noticed that Bet Angel's green up button places a small lay bet on that runner in order to ensure a profit across all the runners
I need this to write my simulation code to simulate a trading algorithm on my data.


thanks for the maths help.