Author Topic: Create free bet instead of greening up  (Read 2537 times)

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Create free bet instead of greening up
« on: 17 Jan 2015, 16:16 »
Hi

I have a trigger that backs a horse from a pre determined list and currently greens up for 30%. I would like to change this so it puts a lay bet (same stake as Back bet) in at a set price determined by a calculation derived from the initial back bet price.

The calculation is:

potential profit(-comission)/back bet price

So if the initial £4 (default amount) back bet went in at 5.40 this would give £16.72 potential profit on that runner so therefore 16.72/4 = lay odds of 4.18.

I would want the trigger to put a Lay bet of £4 in at 4.18

can anyone help?

Cheers


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Re: Create free bet instead of greening up
« Reply #1 on: 17 Jan 2015, 18:00 »
Hi Chilli,

I am confused as to what you want.

As long as the price has dropped since your initial back you can create a free bet at any odds by laying £4 (ie getting your stake back if the selection loses).  The lower the price when laying the better the profit.  So in your example of a £4 back at 5.4 the following it true:

Odds       Stake      Profit         Loss if loses   
             (Lay)     (after comm)
5.0          £4          £1.52             £0
4.8          £4          £2.28             £0
4.5          £4          £3.42             £0
4.0          £4          £5.32             £0
3.5          £4          £7.22             £0
etc

Given that fact, please can you redefine what suggests you want to lay at 4.18 ?

If I am being stupid perhaps someone else can help?

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Re: Create free bet instead of greening up
« Reply #2 on: 17 Jan 2015, 19:19 »
Hi Alfaman

I am just looking to return near to evens on my stake is all. Since I don't know what the sp odds are going to be I need the trigger to calculate this after the initial bet placement trigger has fired. 

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Re: Create free bet instead of greening up
« Reply #3 on: 17 Jan 2015, 19:50 »
newbielink:http://community.welldonesoft.com/triggered-betting-10/formulas/ [nonactive]

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Re: Create free bet instead of greening up
« Reply #4 on: 20 Jan 2015, 12:08 »
Hi Chilli, any luck so far trying out Maddox's formula?
Greening Up

 

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