Basic Horse Racing Profit Calculations

[ADDA]

Hi All,

I have a simple questions relating to working out the profits for backing and laying a horse.
would the following formula be correct for a horse winning and a horse losing (profit only not including initial investment)

Profit (If Horse Wins) = (Back Volume * (Back Odds -1)) - (Lay Volume * (Lay Odds -1))
Profit (If Horse Loses) = Lay Volume - Back Volume

If there is no back or lay, enter 0 for the back or lay volume accordingly? (these equation are assuming one back and/or lay bet per horse)

if these equations are incorrect, could someone please help me correct them.

Thanks for the help

[osknows]

I think you've got it ADDA. How much are you willing to test your formula? £2..£10...£100?