Excel Formula Help Needed

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Excel Formula Help Needed

Postby mtysocks » Fri Oct 22, 2010 12:32 pm

Hi All

I am working on a spreadsheet where I use my own ratings to work out the "true" odds. I then want to compare this with the bookie odds to see if there is any value in the prices. However, I am stuck on the following bit.

If the chances are Home Win (44%), Draw (28%) and Away Win (28%) and these are in Cells A1, B1, C1. I want it to calculate 3 seperate figures for chance of HomeWin/Away Win (72% Chance/1.39 Odds) in column D1, HomeWin/Draw (72% Chance/1.39 Odds) in Column E1, AwayWin/Draw (56% Chance/1.79 Odds)in Column F1. I then need it to convert the percentage chance into Decimal Odds.

What formula should I put in columns D1, E1 and F1 so that it would do this automatically?

Any help will be appreciated.
mtysocks
 
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Postby Captain Sensible » Fri Oct 22, 2010 12:46 pm

I'm assuming you've stuck your percentage figures in as percentages rather than numbers.

To work out decimal odds from a % probability all we do is divide 1 by the percentage

so in D1 we'd have

=1/(A1+C1)

in E1

=1/(A1+B1)

in F1

=1/(B1+C1)

Just format the cells to however many decimal points you want.

If you've entered the percentages in the cells as numbers just change the formula to

D1 =100/(A1+C1)
etc
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Postby mtysocks » Fri Oct 22, 2010 12:59 pm

Thank you. I have been messing about with this for 2 days and without your help I would still be at it!
mtysocks
 
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Location: UK

Postby mtysocks » Fri Oct 22, 2010 5:29 pm

Its me again! I am now stuck with the following:

If I have two rating figures in column AA1 (50) and in column AB1 (20). How can I convert them into decimal prices based on percentage chance of each. I would like the two figures to be converted into chance and total 100% (ie. rating of 50 is 71% chance, and 20 is 29% chance) and then this is converted into decimal prices (1.41 and 3.45 respectively) I would like the decimal prices to go in column AC1 and AC2.

Please can anyone help me with the formula I should put. Thank you
mtysocks
 
Posts: 29
Joined: Tue Sep 14, 2010 5:46 pm
Location: UK

Postby Captain Sensible » Fri Oct 22, 2010 6:05 pm

As you only want the decimal prices displayed it's as simple as

AC1 would be =(AA1+AB1)/AA1
AC2 would be =(AA1+AB1)/AB1
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Postby mtysocks » Fri Oct 22, 2010 6:34 pm

Thank you again. It is much appreciated.
mtysocks
 
Posts: 29
Joined: Tue Sep 14, 2010 5:46 pm
Location: UK


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