Excel formula for numerous bets

[fordieuk]

Hi,

Basically I'm after a formula of some sort that calculates how much I have to place on a bet to get a selected amount back, say if I want to win £1 and the odds are 4.5 I want the formula to work out how much I will have to place to get my money back plus £1 profit.

If possible will the formula be able to incorporate a selection of bets, so for example if I had 4.5, 3.6 and 3 and I wanted to win £1 profit how much would I have to place on each bet to make £1 profit if one of the bets win?

Is this something you could help me with??? If you could let me know that would be great.

regards

Stephen

[GaryRussell]

For one bet you can put the following formula in cell S5 for example. Put your required profit in cell S1

Code: Select all

=$S$1/(F5-1)

Mulitple bets are not so easy. Are all bets in the same market, ie. are you talking about dutch betting?

[fordieuk]

All the bets are in the same market, focusing on time of first goal scored.

so 1-10mins odds 4.5

11-20 odds 5

21-30 odds 6

31-45 odds 8

does that help? basically if a goal is scored between 1st minute to the 45th minute I want to work out how much I have to put on each to cover my betting costs and win £1. If you can help, thanks

[osknows]

There's some description on how to do this and a few downloads on this thread which may help?

http://gruss-software.co.uk/forum/viewtopic.php?t=2813

[fordieuk]

Thanks osknows, I want something a lot like the dutching betting, I just want it to include the previous bets as well, so either outcome I make say £1 on top of the compiled stakes that I have placed.

[osknows]

What do you mean by 'previous bets'? The previous stake, the cumulative stakes for 1 day or your cumulative profit?