Thick question from a newbie

[mitch]

I'm sure this question is going to cause me much embarrassment but I have to ask it because it is driving me mad.

I have used a number of online arbitrage calculators to help me lock in a guaranteed profit when a bookmaker offers enhanced odds or profit from a free bet.

What I can't seem to work out is possible or not is a 2 result market. As example is:

SP Lisbon v Chelsea. Sportingbet (Aus) is offering odds of 6 for a SP clean sheet.

Betfair is offering:

Yes 5.3 and 5.7 and
No 1.22 and 1.23

My question is can I back at 1.22 somehow and make a profit which is the same as laying at 5.7.

I hope this makes sense, what I am trying to ask is how can you use the opposite of the market rather than the normal back/lay method.

And if it is possible are there any calculators online I can use?

[megarain]

http://www.oddschecker.com/betting-tool ... calculator

seems a fair place to start .. see if u can work thru it, if not, will help later.

(but always think its bette u do it yourself, as u learn)

[stevedaggett]

Well you just back at 6 and lay at 5.7, so say you have £100 at 6.00, win =500, lay stake is 106.19, lose is -499.12, profit 0.88p, other way round, lose 100, win 106.19 less 5% comm = 100.88. I have the calculation in a spreadsheet, it's as follows

laystake = ( back stake * back price ) divided by
( lay price - comm ) where prices are decimal and comm would be 0.05 for 5%

Hope that helps

Steve

[mitch]

Thanks for your help.

I knew there must be a way but I just couldn't get my head around the maths.