This BACK bet is now lockedin at odds of 2.02 which means that I have taken 49.50% of the book. I now need the BACK odds for Gloucestershire to drift to a level which will give me enough manoeuvrability to trade myself into a Guaranteed Profit or a No Lose situation by BACKING Gloucestershire.
Let’s say the BACK odds for Gloucestershire move out to 2.8. This figure may be a little exag gerated, but I’m just showing principles in this manual. The percentage equivalent of 2.8 is 35.71%. (1÷2.8 x 100)
BACK ODDS %
Worcestershire 2.02 49.50 (Lockedin Bet) Gloucestershire 2.80 35.71(1÷2.8 x 100)
The total percentage is now less than 100% which puts me in a very favourable position and leaves me with a number of options:
· Generate a Guaranteed Profit no matter which team wins
· Generate a Profit situation if Worcestershire win and a No Lose situation if they lose · Generate a Profit situation if Gloucestershire win and a No Lose situation if they lose
I will now go through each option explaining the maths involved so that you will have an under standing of what is happening. However, like other calculations, you will find spreadsheet lay outs at the back of the manual.