Author Topic: Calculate selection price with Betfair commission (get bookie level payouts)  (Read 2028 times)

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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

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hi
the quickest way, but not perfect would be.
35+5%=36.75/10=3.75 price
the 35 is your expected bookie profit so can be any amount


mcbee
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Hi,

The commision is on the net profit - which is stake*(odds-1).

So the netprofit after commision will be stake*(odds-1)*0.95

Netprofit(betfair)=Netprofit(bookie) =>

stake*(odds-1)*(1-commision)=stake*(BookieOdds-1)

(odds-1)=(BookieOdds-1)/(1-commision)

odds=1+(BookieOdds-1)/(1-commision)

I hope I got it right!

So with your example of 3.5 as a bookie odds =>

odds(betfair)=1+2.5/0.95=3.63

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Thank you for explanation.  :) Now I know.

 

Please note, BetFair is seems to be currently OFFLINE