Green up in running

[Des911]

Sorry if it's been mentioned before but I can't find it.

I want to back a horse just before the start of a race then green up for say 25% of the stake in running (i.e. back £10 and green up to profit £2.50).

I'm OK with place the back with Excel but cannot fathom how to green up I/R with Excel as I do not know what odds it will have backed with.

Thanks in advance

[excelhasey]

It depends what odds your selection is backed at i.e

£10 @ 6.0 equates to £10 at 5 to 1 so thats 10 x 5 = £50 profit if it wins

But if you want to make £2.50 if it losses or wins then you need to Lay for £12.50 but only pay out £50 - £2.50 = £47.50

So you would need to Lay £12.50 at (47.50 / 12.50) = 3.8 to 1 or on Betfair at 4.8

Either way you win £2.50 if both bets are taken (minus Betfair commission of say 5% = £2.38 profit) but if the selection drifts in the market and your Lay doesn't get matched then your a tenner down fella

[Des911]

Thanks, I appreciate all that but what I need is excel to trigger a back bet one min before the start (which I know how to do).

Then I need excel to put in a lay bet in running and for it to calculate the price I need to lay at i.e. 25% lower price at 25% increase stake, which I can't work out how to do. Excel needs to work out the price (back price - 25% and back stake + 25%) for me.

I could run 2 spreadsheets but they would have to be have to be linked for it to work out what price it needs to lay at.

[milfor]

For the first selection you get the back price -25% with the formula =F5*0.75 or what do you mean?

[Des911]

Thanks but I'm obviously not explaining myself properly.

What I want to do is,

1. Place a Back bet one minute before the off time (I know how to do this)

2. Place a Lay bet in running to allow me to green up to an overall green of 25% of my back stake.

The problem I see is I don't know what the Back bet price will be so can't set up the Lay without some calculations which I don't know how to do.

[milfor]

Maybe you should give an example where you write concrete odds and
stakes and the P/L you desire.

[Des911]

OK,

I back a horse at 5.0 for £10.

How do I set the spreadsheet to lay the horse in running to be green on all horses for £2.50?

[milfor]

To be green on all horses for £2.50 you have to lay at 4.0 for £12.50.

The calculations are both done with the constant 1.25:

10 * 1.25 = 12.5
5.0 / 1.25 = 4.0

[Des911]

Thanks for trying to explain milfor but as I say I don't know what the back price will be - it will be taken at one minute before the off - and so can't enter figures in to a spreadsheet.

What I need to do is set the spreadsheet up to calculate the Lay from what the Back price is. Obviously I know the Lay amount but not what price it needs to Lay at.

[GaryRussell]

You can do this with the latest Beta version 1.1.0.66x13. Please install from the link below.
http://www.gruss-software.co.uk/Betting ... _Beta2.msi

You first need to tick "Calculate tick % on decimal odds" in general preferences.

You can then use the trigger BACK-PL20 which will place the lay bet at 20% lower odds than the back odds. This works out at 25% profit.

eg. odds 5.0 X 0.80 = 4.0. This is equivalent to entering 5 - 20% on a calculator.

[GaryRussell]

Sorry forgot to mention. If you are backing before the start of the race and want the lay bet to be kept in play then the trigger should be BACK-PL20-IP

[Des911]

Thanks Gary that looks good, will give it a go over the weekend.

Great service,

[Des911]

Just checking, does this mean it will lay at the same stake i.e. not green up?

[GaryRussell]

No, if it was BACK-P20-IP then it would be the same stake, but because it is BACK-PL20-IP it will work out the correct stake based on the matched back odds to green up.

[Des911]

Brilliant, thanks