Good day
It's about difference in payouts from bookies and betfair.
I receive daily tips regarding horse racing and there are advised prices on each selection, however these prices are regarding bookmaker websites (they do not have commission).
Example of tip:
18.35 Worcester Red Seventy 3.50 Generally
So this price 3.50 means that I will get 35EUR profit if I place a 10EUR bet at bookmaker.
Betfair profit would be 35*0.95=33.25EUR
So, is there a way to calculate on which price should I place a bet on betfair in order to have same profit as from bookmaker?
I tried to use 1 tick offset, which in this case would give price 3.55
35.5*0.95=33.73eur - so, as you can see, it is still not 35EUR as I hoped.
Any advise and suggestions are welcome.
Best Regards,
Alex