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If then Mathematical Formula for Gambling

  1. #1
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    If then Mathematical Formula for Gambling

    Hey all,

    Longtime lurker, first time poster.

    Ok I'm trying to create an If Then Mathematical Formula for a Workbook that will convert moneyline (ml) odds to decimal odds, then convert ml to probability, and then convert gross payout based on risked wager and odds.

    The ml odds conversion formula is (US --> Decimal (x/100)+1 if x>0; (-100/x)+1 if x<0)

    Does anyone have a plug and play formula i could use? I've been crashing with the IF function in excel for the better part of an hour.

    I attached my workbook, if anyone finds any value in it... Also, sorry english is not my primary language.

    -Arjun
    Attached Files Attached Files

  2. #2
    Forum Expert shg's Avatar
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    Re: If then Mathematical Formula for Gambling

    Welcome to the board.

    For moneyline odds,

    o Odds are always <= -100 or >= +100

    o If positive, the amount of profit on a $100 bet

    o If negative, the bet required for a $100 profit

    Probability (ignoring the take) is 1/decimal odds.

    A
    B
    C
    D
    E
    1
    Moneyline
    Decimal
    Prob
    2
    -300
    1.33
    75%
    B2: =IF(A2 <= -100, 1 - 100/A2,
    IF(A2 >= 100, 1 + A2/100, "Invalid!"))
    3
    -250
    1.40
    71%
    C2: =1/B2
    4
    -200
    1.50
    67%
    5
    -150
    1.67
    60%
    6
    -100
    2.00
    50%
    7
    100
    2.00
    50%
    8
    150
    2.50
    40%
    9
    200
    3.00
    33%
    10
    250
    3.50
    29%
    11
    300
    4.00
    25%
    12
    350
    4.50
    22%
    13
    400
    5.00
    20%
    Last edited by shg; 08-22-2016 at 02:36 PM.
    Entia non sunt multiplicanda sine necessitate

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