by funky » Thu Apr 06, 2006 10:47 am
A month or so ago someone asked how to calculate stakes for greening.
I've just worked this out, so I'll share it with the world:
Lets say you lay a horse
Stake $100
Odds 3.5
if horse wins you lose $250
if horse loses you win $100
The available "back" odds then go up to 3.6
How do you work out how much to stake so that you'll profit no matter which horse wins?
Divide 3.5 by 3.6 = 0.97222
Multiply this number by your original stake = $100*0.97222 = $97.22
Now lets see what happens when we back the horse with that amount: (disregarding, for the moment, the lay bet we've already placed)
Stake $97.22
Odds 3.6
if horse wins you make $252.77
if horse loses you're down $97.22
When both bets are matched, they work together, like this:
If horse wins:
$-250 + $252.77 = $2.77
If horse loses:
$100 - $97.22 = $2.78
good luck!!