Thought I’d post up some formulas I found, some of these aren’t compatible with MFP but could come in handy if you’re using excel. There doesn’t seem to be anywhere on the net that lists useful formulas, so I’m going to start one. Feel free to post any others you may know of. Share the wealth and all that

So I’ll keep things simple to start with.

To convert decimal odds into probability(also known as binary):

(100/back_price) = Value%

(100/5) = 20%

Or

(1/back_price) =0.value%

(1/back_price)*100 = value%

To convert binary to decimal odds:

e.g. binary = 55.55

(100/binary) = decimal odds

(100/55.55) = 1.80

To green up a back bet for even profit:

e.g. backed £10 @ 2.00, lay_price is now = 1.5

Lay stake

(bm_backp*bm_backa)/lay_price = 13.33

(10*2)/1.5 = 13.33

Or

(Profit+liability)/lay_price =13.33

(10+10)/1.5 =13.33

Or

(back odds/lay odds)* back stake = lay stake

(2/1.5)*10 = 13.33

(bm_backp/lay_price)*bm_backa =13.33

To green up a lay bet for even profit:

e.g. layed £10 @ 2.00, back_price is now 3.0

(lay stake*lay odds)/ new back odds = back stake

(10*2)/3 = 6.66

(bm_laya*bm_layp)/back_price =6.66

Or

(liability + lay stake)/ new back odds = back stake

(10+10)/3 = 6.66

Or

(lay odds/back odds)* lay stake = back stake

(bm_layp/back_price)*bm_laya = 6.66

I’ll post some more later

Enjoy