Greening formula

[johnnic1948]

Does anyone have an Excel formula that will replicate the greening function in BetAngel?

I will only be using it when there are no more than three possible outcomes in an event. I've tried developing it myself but I'm struggling.

Once I have the basic formula I intend to extend it to cover possibilities that currently BetAngel doesn't eg, (1) specific outcomes for one or more teams and green the rest and (2) recognition that the market depth is not always adequate to fill the bets that BetAngel uses to green up.

If I can develop something useful, I will, of course, make it available to others to use.

[matekus]

johnnic1948,

The basic formulae are as follows, assumes initial buy trade:
* Equal Payouts: SellAmount = (BuyPrice / SellPrice) * BuyAmount
* Free Buy: SellAmount = BuyAmount
* Free Sell: SellAmount = ((BuyPrice -1) / (SellPrice - 1)) * BuyAmount

matekus

[johnnic1948]

Thanks for your explanation but I'm not sure it meets my needs. Perhaps it does and I simply don't understand it.

If I provide a specific example, perhaps someone can help. Let's say I have the following position in a three possible outcome scenario.

Outcome A, currently green $1935.15, Current back price = $5.80, Lay price = $5.90
Outcome B, currently green $830.54, Current back price = $1.52, Lay price = $1.53
Outcome C, currently red -$4194.46, Current back price = $5.70, Lay price = $6.00

I want to green up across all outcomes. Any suggestions on the Excel formula that will achieve this outcome?

[Bet Angel]

It would help if you detail what your net trading position is on each selection, then the rest is easy from there.

[johnnic1948]

I'm not sure what further information I can provide over and above that which I set out earlier.

Outcome A, current net position is positive $1935.15, Current back price = $5.80, Lay price = $5.90
Outcome B, current net position is positive $830.54, Current back price = $1.52, Lay price = $1.53
Outcome C, current net position is negative -$4194.46, Current back price = $5.70, Lay price = $6.00

Am I missing something?

[johnnic1948]

Let me add some historic information that got me to my current position which may help. Assume my bets to date, on a possible three outcome event (cricket actually), have been as follows:

Outcome A - Back $669.46 @ $1.65
Outcome C - Lay $1500 @ $3.35

After the initial bets, my net position is therefore:

Outcome A - positive $1935.15
Outcome B - positive $830.54
Outcome C - negative $4194.46

At some point in the match the odds are as follows:

Outcome A - $5.80/$5.90
Outcome B - $1.52/$1.53
Outcome C - $5.70/$6.00

I now want to green up. I know (from BetAngel or from tedious calculation) that to green up I need to to lay Outcome A and back Outcome B. I want to be able to write a simple Excel formula that will tell me how much I need to lay Outcome A at the current lay price of $5.90 and how much I need to back Outcome C at the current back price of $5.70.

Hope this helps rather than confuses. I appreciate the help that is being offered.

[matekus]

johnnic1948,

As already indicated above, for equal payouts:
* If InitialTrade = "Buy", Then SellAmount = (BuyPrice / SellPrice) * BuyAmount
* If InitialTrade = "Sell", Then BuyAmount = (SellPrice / BuyPrice) * SellAmount

Using your example, and assuming 5% commission, the above formulae give a "greened-up" payout of 129.37, regardless of outcome:
* A - SellAmount = (1.65 / 5.90) * 669.46 = 187.22
* C - BuyAmount = (3.35 / 5.7) * 1500 = 881.58

matekus

[johnnic1948]

matekus

Thank you for your help, it is much appreciated. I have just one question. From the formula you have provided it is clear that one needs the initial trade details.

Is there any way that a greening up position can be ascertained without that information? I may have had many bets that will eventually lead me to a 'current position' and I would like to be able to calculate the green up bets from that point without reference to what I may have done before.

Perhaps I'm tilting at windmills.

John