Matchbook rake

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AceJack
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AceJack

Matchbook rake
« on: April 08, 2017, 03:23:04 PM »

Hi Arbing friends :=)

  I recently started using matchbook , but unfortunate for me they have rake for losing bets , :/ This killed my calculator.  Can any of you ninjas help me compile the formula for a straight arb between a normal bookie and matchbook

sample:

Bet365: Bet, 1X  odds: 1,6  for 100 USD
Matchbook: 2,8 ?

I think the rake is 1,5% when accepting bets

Any help would be great :)
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AceJack
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Re: Matchbook rake
« Reply #1 on: April 09, 2017, 07:52:37 AM »

I fund this old topic: http://arbusers.com/index.php?topic=1638.0

trying to put it into excel this is what i have so far:

According to sheldon3000 sample:

"This tell us that we have to place at B (1.55/3)^-1 for every on A.
(1.55/3)^-1=1.9354"

here is the calculations I made:

Odds 1 3
Odds 2 1,55
bet 1 30 

Bet 1: 1*(3-1)-(1.01*1.9354)
Bet 2:  =1.9354*(1.55-1-0.01)-1

Both of these returns 0,0451

but when i try to convert it to stake somethings go wrong:

30*(3-1)-(1.01*1.9354) =58,04516 +30 = 88,05
58,04516*(1.55-1-0.01)-1 = 30,35484 + 58,0645 = 88,42

What did I do wrong here ?



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dealer wins
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dealer wins

Re: Matchbook rake
« Reply #2 on: April 09, 2017, 09:29:44 AM »

What I do is apply a 1.5% reduction on the odds both at matchbook and the bookie.

I know this isnt perfect as losing bets on matchbook will be charged less than 1.5% if you bet on odds under 2.0.

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E4e
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E4e

Re: Matchbook rake
« Reply #3 on: April 09, 2017, 09:37:52 AM »

Here's my code for 1.25 % comm.

This gives you the odd for the profitability computation. However you need to also adjust the quantity when you do the bet because a net odd of 2.0 given by the formula is for 1.0125 USD and not 1.00 USD. (i.e. you need to bet 1.00 USD per 1.0125 given by your arb calculator, assuming this is a backing bet).

public static Double Matchbook(Way way, Double stake, Double odd)
        {
            if (way == BACK)
            {//we will receive less
                var winGain = (odd - 1)*stake*(1 - 0.0125);
                var loseLoss = stake + (odd > 2 ? 0.0125*stake : 0.0125*(odd - 1)*stake);
               
                var newOdd = 1.0 + (winGain/loseLoss);
                return newOdd - odd;
            }
            else
            {
                var winLoss = stake * (odd - 1) + (odd > 2 ? 0.0125 * stake : 0.0125 * (odd - 1) * stake);
                var loseGain = stake * (1 - 0.0125);

                var newOdd = 1.0 + (winLoss / loseGain);
                return newOdd - odd;
            }
        }
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AceJack
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AceJack

Re: Matchbook rake
« Reply #4 on: April 09, 2017, 09:45:20 AM »

Nice just when I was replying to dealer wins the solution comes from E4e :

Good job very nice indeed , karma for you :)

Do you mind share a sample file as this formula was a bit complicated,

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AceJack
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AceJack

Re: Matchbook rake
« Reply #5 on: April 09, 2017, 09:48:15 AM »

All this hassle just because Smarkets had to remove USD as currency :/

(I have some EURO there but they are valuable, LOL only bet there in emergencies since converting fees are killing profit)
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AceJack
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AceJack

Re: Matchbook rake
« Reply #6 on: April 09, 2017, 09:56:43 AM »

Here is a screen of my current calculator ,

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