Big Juicy Stake

[Phil]

I'm trying to work out the stake based on liability and the odds, I thought it was as simple as saying STAKE = LIABILITY/ODDS but when I go on betfair and type the stake in that the formula produces it doesn't match the liability.

So, just to reiterate, I have 3 columns in my spreadsheet, Odds, Stake and Liability. The Odds and Liability are set by me and I want the correct stake to show up based on those inputs. I'm not far off, in fact, I've been told I need to add the stake on somewhere, which I cant see as being possible since it hasn't been worked out...

[sparkyminer]

Don't forget to minus 1 from the odds Phil.

[vegyjones]

Betting Stake and Poker Chips mmmm. :D

[John]

Basically, a column needs to be added that produces the resulting formula for =(Liability/Odds)+Stake but when I try and do this, circular referencing occurs, which I've completely forgotten about, and can't find a way around it!

[Phil]

I'm inputting the odds as they are on betfair. I'm sure this is simple, if you can work out the liability based on odds and stake, then it must be the same in reverse for working out the stake?

What have I done wrong? Odds 14.0, Liability £60, Stake = ?

Betfair says about 4.62
My spreads saying about 4.29

[John]

Yeah, it is simple. Very simple. Mathare My goodness you must be getting sick of everyone asking for your help!

The formula needs to be in the Stake column, and it is not possible to "plus the cell value you're working in" so I can't see how you do it. Unless there's a way to output the resulting formula of the first bit of the formula (in brackets) elsewhere.

Does that make sense? No, but I can't explain it any better. :(

[John]

=Liability/(Odds-1)

Right?

Thanks Sparky for pointing that out earlier, I'd forgotten to include it. I think it works.

[Phil]

You beauty.:)

[John]

I just can't believe it was so simple PJ. Staring us right in the face, really!

[mathare]

Glad I could help :D

[Phil]

Is SPSS in anyway useful for betting mat?

[MarcusMel]

SPSS I thought that junk was dead. Don't think Mat knows about SPSS.

You only need simple stats for this Phil.

[MarcusMel]

Oh! - I beg SPSS's pardon - they must have continued to improve it.

However my statement that you only need simple stats still stands.

[mathare]

SPSS I thought that junk was dead. Don't think Mat knows about SPSS.

You only need simple stats for this Phil.

You're right, Mat doesn't have a scooby what you're on about he's afraid