Author Topic: Imported price overlay  (Read 186 times)

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Imported price overlay
« on: Tue, 29 June, 2021, 03:09 »
Hi,
I haven't been able to find a prior question or thread on an issue I need some help on. 

I import a min back price and max lay price for my horse selections and calculate bet amounts via a variation of the kelly formula. It seems to work well, but now i want to limit bet placement where the kelly 'overlay' is 5% or greater.

For instance the condition determining back bet size is as follows:

back_bet_size*my_balance*((((back_price-1)*(1/rated_price1))-(1-(1/rated_price1)))/(back_price-1))/100

*back_bet_size is my kelly fraction

Would there be a way to introduce another condition that omits the "back_bet_size*my_balance" portion of the calculation to determine whether any overlay is greater than the threshold?

Appreciate any advice as I am a bit of a newb.