+ Reply to Thread
Results 1 to 10 of 10

How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

  1. 04-09-2015, 02:39 AM #1
    sbeekallan
    sbeekallan is offline
    Registered User
    Join Date
    04-09-2015
    Location
    Mauritius
    MS-Off Ver
    MS Office 2013
    Posts
    5

    Exclamation How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Hello !

    The Bookmaker (or Exchanger) Betfair take 6.5% commission on winnings.

    e.g:If the odds is 3.5 and you bet 100$, you earn : (100x3.5)-100=250 - 6.5%=233.75

    I need a formula in excel so that when I input the odds, it gives me the real odds (the odds less the 6.5% commission on winnings).

    Is it possible ?
    Reply With QuoteRegister To Reply
  2. 04-09-2015, 02:48 AM #2
    NeedForExcel
    NeedForExcel is offline
    Forum Expert NeedForExcel's Avatar
    Join Date
    03-16-2013
    Location
    Pune, India
    MS-Off Ver
    Excel 2016:2019, MS 365
    Posts
    3,873

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Here!

    If 3.5 is in Cell A2 & 100 (Without the $ Sign) in Cell B2, put the below Formula on Cell D2 or any other cell as required

    =((A2*B2)-B2)-(((A2*B2)-B2)*6.5%)
    Cheers!
    Deep Dave
    Reply With QuoteRegister To Reply
  3. 04-09-2015, 04:03 AM #3
    sbeekallan
    sbeekallan is offline
    Registered User
    Join Date
    04-09-2015
    Location
    Mauritius
    MS-Off Ver
    MS Office 2013
    Posts
    5

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Thank you NeedForExcel,

    Yes I know this. But what I want is to know the real value of the odds. If a bookie take 6.5% commission on winning and for example he give 3.5 odds, compared to the other bookies who don't take commission the 3.5 odds is not good because you have 6.5% commission. I need this for another calculation, I want that excel pick-up the best odds from a list of different bookmakers, but in this list there are some bookmakers who takes commission and some not.

    I know that I can use the net profit value and then found a formula with conditions (like IF) but it is too difficult for me.

    If you have the formula it will be great !!
    Reply With QuoteRegister To Reply
  4. 04-09-2015, 04:42 AM #4
    NeedForExcel
    NeedForExcel is offline
    Forum Expert NeedForExcel's Avatar
    Join Date
    03-16-2013
    Location
    Pune, India
    MS-Off Ver
    Excel 2016:2019, MS 365
    Posts
    3,873

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    I can help you with the formula if you attach a sample workbook and guide me as to how the calculation is done.

    Currently the information is too less to actually understand what is the required output
    Reply With QuoteRegister To Reply
  5. 04-09-2015, 05:00 AM #5
    sbeekallan
    sbeekallan is offline
    Registered User
    Join Date
    04-09-2015
    Location
    Mauritius
    MS-Off Ver
    MS Office 2013
    Posts
    5

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Great !! Thank you !

    How can I send you the sample ?
    Reply With QuoteRegister To Reply
  6. 04-09-2015, 05:15 AM #6
    NeedForExcel
    NeedForExcel is offline
    Forum Expert NeedForExcel's Avatar
    Join Date
    03-16-2013
    Location
    Pune, India
    MS-Off Ver
    Excel 2016:2019, MS 365
    Posts
    3,873

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Click on Go Advanced at the right bottom corner of your post, select Go Advanced,where you will find the attachment option
    Reply With QuoteRegister To Reply
  7. 04-09-2015, 05:24 AM #7
    sbeekallan
    sbeekallan is offline
    Registered User
    Join Date
    04-09-2015
    Location
    Mauritius
    MS-Off Ver
    MS Office 2013
    Posts
    5

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Thank you !! Here it is
    Attached Files Attached Files
    Reply With QuoteRegister To Reply
  8. 04-09-2015, 05:29 AM #8
    NeedForExcel
    NeedForExcel is offline
    Forum Expert NeedForExcel's Avatar
    Join Date
    03-16-2013
    Location
    Pune, India
    MS-Off Ver
    Excel 2016:2019, MS 365
    Posts
    3,873

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Hi,

    I am sorry to ask so many questions but I am not understanding exactly what is required.

    Can you clarift what " In column D, I need the best odds of the 3" means? What do you mean by Best Odds?
    Reply With QuoteRegister To Reply
  9. 04-09-2015, 05:35 AM #9
    sbeekallan
    sbeekallan is offline
    Registered User
    Join Date
    04-09-2015
    Location
    Mauritius
    MS-Off Ver
    MS Office 2013
    Posts
    5

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    I sent you a PM
    Reply With QuoteRegister To Reply
  10. 04-09-2015, 08:43 AM #10
    shg
    shg is offline
    Forum Expert shg's Avatar
    Join Date
    06-20-2007
    Location
    The Great State of Texas
    MS-Off Ver
    2003, 2010
    Posts
    40,678

    Re: How to calculate Bookmaker real odds (odds less commission) in Excel 2013 ?

    Row\Col
    A
    B
    C
    D
    E
    1
    Bookie
    1
    2
    3
    2
    Odds
    3.50
    3.20
    3.00
    3
    Commission
    0.0%
    3.5%
    6.5%
    4
    Real Odds
    3.500
    3.123
    2.870
    		B4: =(B2-1)*(1-B3)+1


    You could use conditional formatting to highlight the best odds.
    Entia non sunt multiplicanda sine necessitate
    Reply With QuoteRegister To Reply
+ Reply to Thread
« Previous Thread | Next Thread »

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Calculate winnings by using fixed stake and odds
    By tom hatten in forum Excel General
    Replies: 2
    Last Post: 02-05-2015, 03:29 PM
  2. Scraping bookmakers odds into excel
    By burdo77 in forum Excel General
    Replies: 4
    Last Post: 03-09-2014, 10:33 PM
  3. Calculating the correct score odds from the soccer match odds ?
    By mikef0x in forum Excel General
    Replies: 3
    Last Post: 08-31-2011, 09:11 AM
  4. Formula required to calculate betting odds/returns
    By jonrayworth in forum Excel General
    Replies: 0
    Last Post: 07-13-2010, 08:14 AM
  5. How to calculate odds in excel (for instance matching pairofdice)
    By Diceroller in forum Excel Formulas & Functions
    Replies: 5
    Last Post: 06-09-2006, 06:00 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Forum Rules


Search Engine Friendly URLs by vBSEO 3.6.0 RC 1