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  • #1 by alexbetmaster on 29 Jul 2015
  • 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
  • #2 by mcbee on 29 Jul 2015
  • 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
  • #3 by tupp on 29 Jul 2015
  • 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
  • #4 by alexbetmaster on 29 Jul 2015
  • Thank you for explanation.  :) Now I know.
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