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Arbitrage Calculator formulas

  1. #1
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    Arbitrage Calculator formulas

    I was wondering if someone could help me. I've researched online to find a number of arb calculators (see scalpulator.com), and different sports betting formulas, but I've yet to come across one where I can put in both odds and the bet on team 1 where it will show me what bet to make for team 2 to have equal profit on both sides. I am also using "American Odds", meaning +140 or -140. These other arb calculators will figure out the bet you should make if team 2 has HIGHER odds than team 1. But, if team 2 has LOWER odds, they don't let me keep the bet I made on team 1.

    Hope you understood. Just looking for a basic (ok, maybe these are not basic formulas) excel sheet that will plug in the amount to bet on team 2 NO MATTER WHAT THE BET ON TEAM 1 IS to make a guaranteed equal profit on both sides (in my attachment, that would be cell D4). If that works, then I would like to get the % profit under F3 and F4 (if done correctly, they should be the same amounts) and profit totals under H3 and H4 (again, should be the same). I'm guessing that there would have to be some conversion of the odds row (Row B) to convert from American odds to fractional odds to get the formula to read the odds. Also, since an "arb" situation only comes out if the odds are less than the odds for team 1 (in my example, since team 1 is at +140, team 2 would have to have odds of -139 or lower), I'm thinking this has to be added to formula.

    Any help would be greatly appreciated. Thanks.

    Marc
    Attached Files Attached Files

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    Re: Arbitrage Calculator formulas

    There's a workbook that calculates lay and dutch bets at https://app.box.com/s/5pt3sgepeuoj8q42lp36. You'd need to convert the moneyline odds to decimal or bookie odds.
    Entia non sunt multiplicanda sine necessitate

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    Re: Arbitrage Calculator formulas

    I saw this previously, but it's a little too confusing and I don't think it does what I want it to do in a simple form.

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    Re: Arbitrage Calculator formulas

    Row\Col
    A
    B
    C
    D
    E
    F
    G
    2
    Teams
    ML Odds
    Dec Odds
    Bet
    Win Pays
    3
    Team 1
    +140
    3.40
    $ 50.00
    $ 170.00
    C3: =IF(B3>100, 1+B3/100+1, 1-100/B3 )
    4
    Team 2
    +110
    3.10
    $ 54.84
    $ 170.00
    D4: =D3*C3/C4

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    Re: Arbitrage Calculator formulas

    I like where you are going with this. But, a couple of issues. First, the odds should be based on 100. So, the decimal odds for +140 should be 1.40, not 3.40, and the win should pay $70. Also, how would I calculate the percentage row from my attachment, as well as the profit on the particular bet?

    Thanks.

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    Re: Arbitrage Calculator formulas

    Also, the PROFIT would have to be the same both ways, not the PAYOUT/WIN.

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    Re: Arbitrage Calculator formulas

    According to this, +140 is 3.4 in decimal odds, and +110 is 3.1.

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    Re: Arbitrage Calculator formulas

    It actually says "2.4". I'm not concerned as to what shows up in that column, only that the correct payout shows, thereby showing the accurate profit.

    In my example (figuring it out manually), if $50 is bet at +140, I would have to bet $57.14 at +110 to guarantee the same profit both ways of $12.86. The problem is I can't figure out a formula that gets me to the $57.14. I had to manually put in a "total investment" amount (trial and error) to get to $107.14 and then the arb calculators found online figured out the $57.14. I am stumped!!

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    Re: Arbitrage Calculator formulas

    My bad, an error in a formula:

    Row\Col
    B
    C
    D
    E
    F
    G
    H
    2
    Teams
    ML Odds
    Dec Odds
    Bet
    Win Pays
    3
    Team 1
    +140
    2.40
    $ 50.00
    $ 120.00
    D3 and down: =IF(C3>=100, 1+C3/100, 1-100/C3 )
    4
    Team 2
    +110
    2.10
    $ 57.14
    $ 120.00
    E4: =$F$3/D4


    +140 moneyline = 2.4 decimal; you get $240 back on a $100 bet, including the bet, so net $140.

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    Re: Arbitrage Calculator formulas

    Just to add another example:

    Row\Col
    B
    C
    D
    E
    F
    G
    H
    2
    Teams
    ML Odds
    Dec Odds
    Bet
    Win Pays
    3
    Team 1
    +140
    2.40
    $ 50.00
    $ 120.00
    D3 and down: =IF(C3>=100, 1+C3/100, 1-100/C3 )
    4
    Team 2
    +110
    2.10
    $ 57.14
    $ 120.00
    F3 and down: =$D3*$E3
    5
    Team 3
    -110
    1.91
    $ 62.86
    $ 120.00
    E4 and down: =$F$3/D4

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    Re: Arbitrage Calculator formulas

    This sounds right!! The only thing is that when I copy and paste your formula in, the cell is not recognizing it. Is there any way you can put your formulas in my attachment and re-attach? Thanks for your help.

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    Re: Arbitrage Calculator formulas

    Forget it, I figured it out. Thanks for all your help.

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    Re: Arbitrage Calculator formulas

    You're welcome.

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    Re: Arbitrage Calculator formulas

    how do i continue the outcomes up to 16 outcomes?

  15. #15
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    Re: Arbitrage Calculator formulas

    Just copy the formulas down:

    Row\Col
    B
    C
    D
    E
    F
    G
    H
    I
    J
    2
    Teams
    ML Odds
    Dec Odds
    Bet
    Win Pays
    3
    Team 1
    140
    2.40
    $50.00
    $120.00
    D3: =IF(C3>=100, 1+C3/100, 1-100/C3) E3: Input F3: =D3*E3
    4
    Team 2
    110
    2.10
    $57.14
    $120.00
    E4: =$F$3/D4
    5
    Team 3
    -110
    1.91
    $62.86
    $120.00
    6
    Team 4
    200
    3.00
    $40.00
    $120.00
    7
    Team 5
    120
    2.20
    $54.55
    $120.00
    8
    Team 6
    100
    2.00
    $60.00
    $120.00
    9
    Team 7
    -100
    2.00
    $60.00
    $120.00
    10
    Team 8
    -110
    1.91
    $62.86
    $120.00
    11
    Team 9
    -140
    1.71
    $70.00
    $120.00
    12
    Team 10
    -150
    1.67
    $72.00
    $120.00
    13
    Team 11
    -140
    1.71
    $70.00
    $120.00
    14
    Team 12
    -190
    1.53
    $78.62
    $120.00
    15
    Team 13
    -140
    1.71
    $70.00
    $120.00
    16
    Team 14
    120
    2.20
    $54.55
    $120.00
    17
    Team 15
    -110
    1.91
    $62.86
    $120.00
    18
    Team 16
    110
    2.10
    $57.14
    $120.00

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    Re: Arbitrage Calculator formulas

    Thank you for the above contributions. However, I would like to understand how to split a 100 EUR wager between the following odds so that it is distributed evenly: 1.24 odds; 1.35 odds; and 1.50 odds to return a winning amount that I would bet 1.5 odds on? Not sure if this question is understood?

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    Re: Arbitrage Calculator formulas

    Quote Originally Posted by ML Zwane View Post
    Thank you for the above contributions. However, I would like to understand how to split a 100 EUR wager between the following odds so that it is distributed evenly: 1.24 odds; 1.35 odds; and 1.50 odds to return a winning amount that I would bet 1.5 odds on? Not sure if this question is understood?
    Administrative Note:

    Welcome to the forum.

    We are happy to help, however whilst you feel your request is similar to this thread, experience has shown that things soon get confusing when answers refer to particular cells/ranges/sheets which are unique to your post and not relevant to the original.

    Please see Forum Rule #4 about hijacking and start a new thread for your query.

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