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Simultaneous Variable Solver Help Needed

  1. #1
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    Question Simultaneous Variable Solver Help Needed

    I have been trying to figure out how to essentially be a hedge fund sports bettor via placing two simultaneous bets, so that if either one wins, I profit. I have come up with what I believe to be the base formulas to solve the for what I am looking for but I have no idea how to have excel do it for me.

    Example:

    USA to win money line is -190 ex: $19 Bet Pays $10 Profit

    The Draw money line is +265 ex: $10 Bet Pays $26.50 Profit

    This is represented by the following equations respectively

    A*(100/(absolute value of B)) = C
    or
    A*(100/190) = C for the above example

    X*Y/100 = Z
    or
    X*265/100 = Z for the above Example


    Now in order to be Profitable I need to make sure that either bet pays better than equal money Represented by the following equation:

    C-X = Z-A = 10

    So I want to know how can I make excel solve for A and X when the above equation is true.

    Variables Defined:
    A = Bet amount on the negative money line
    B = The Value of the negative money line ie: -800, -125 etc.
    C = Profit of negative money line payout only
    X = Bet amount on plus money line
    Y = The value of the plus money line ie: +265, +500 etc.
    Z = Profit of plus money line payout only

    I have gotten close with a guess and check method that takes but a few minutes but time is money. For ease I have included it here.

    $80 on USA Pays $42
    $34 on the Draw Pays $90
    If USA wins I profit $8
    If a Draw I profit $10

    Obviously this seem excessive for $10 profits, however I have used small monies for ease of math. Please any help would be appreciated.

    Thx in Advance
    -TJ

  2. #2
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    Re: Simultaneous Variable Solver Help Needed

    Anyone? Any ideas?

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    Re: Simultaneous Variable Solver Help Needed

    So I want to know how can I make excel solve for A and X when the above equation is true.
    I find that, before I can "make excel" solve anything for me, I have to know how to solve the problem directly. In this case, you have this set of equations:
    C-X = Z-A = 10
    where C and Z are functions of A and X, respectively. So, what you basically have is a series of 2 equations in 2 unknowns, so you would use the skills learned in algebra to derive an expression for A (or X) as a function of B and Y. Then plug that value of A (or X) into one of the original expressions to get an expression for X (or A). Once you've done that, entering the formulas for A and X into Excel should be trivial.

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    Re: Simultaneous Variable Solver Help Needed

    Although I agree; A: it's much easier said than done. B: that still doesn't address what function in excel will solve backwards for a variable.

  5. #5
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    Re: Simultaneous Variable Solver Help Needed

    Excel doesn't have a built in "algebraic manipulator." If you set the spreadsheet up right, you should be able to get Solver to "solve backwards" for A and X. But, if time is really that important, you'll want to work through the algebra to get explicit functions for X and A as functions of B and Y: (In the following equations, I've absorbed the 100's into B and Y)
    C=A/B, Z=XY
    A/B-X=10 eqn(1)
    XY-A=10 eqn(2)

    At this point, there are two equations in 2 unknowns (A, X). Use the method of elimination as explained here: http://www.analyzemath.com/Tutorial-...Equations.html to eliminate A or X

    AY/B-XY=10Y
    -A+XY=10

    add together
    AY/B-A=10Y+10
    A=(10Y+10)/(Y/B-1)

    Having solved for A, it should be simple to get X from eqn 1 or 2.

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