AndyKent
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Registered: 3rd Sep 05
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I have the formula below which i think is impossible to answer - can anyone prove me wrong?
(10 * 1.80) + (y * 1.80) = z
y = 18.7 minus z
What are y and z equal to?
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Ellis
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Registered: 11th Sep 07
Location: Aberdeenshire
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1 equation, 2 unknowns - don't think you can do that.
EDIT: Newton-Rhapson would maybe solve that actually, can't remember 
[Edited on 24-07-2009 by Ellis]
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Cavey
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Registered: 11th Nov 02
Location: Derby
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Just trial and error?
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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7 mate. Definitely 7
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AndyKent
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Registered: 3rd Sep 05
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I can work it out through trial and error eventually but need to be able to calculate it quickly in a program I am making.......
Definately not 7 
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BluKoo
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Registered: 8th Apr 02
Location: Stonehaven (Scotland)
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Orange feet.
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Reedy
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Registered: 11th Apr 04
Location: Hammersmith
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quote:
Originally posted by AndyKent
I have the formula below which i think is impossible to answer - can anyone prove me wrong?
(10 * 1.80) + (y * 1.80) = z
y = 18.7 minus z
What are y and z equal to?
y = ( (18.0 - z) / 1.80 )
What type of maths are you studying?
I cant remember but i think there might be a way of find out the values ( in algebraic form ) and its related to the fact that you are multplying. Its been a while since i did this kind of stuff.
[Edited on 24-07-2009 by Reedy]
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AndyKent
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Registered: 3rd Sep 05
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Its for a betting program.
I know the odds to place a back bet at, and want to cancel it out with a lay a few decimal places lower. This formula is how you calculate the right lay amount.
Basically, back a result with £10 at 1.87 = £18.70 if you win, -£10 if it looses but if you do, for example, £10 back at 1.87 and £10.20 lay at 1.8, you guarantee even profit on all outcomes.
This formula is (I think) how you calculate the optimum lay amount
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sand-eel
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Registered: 15th Mar 07
Location: carluke/braidwood--IRNBRULAND
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My £130 calculator says "too few arguments" which means you need either y or z.
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James@CCC
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Registered: 10th Nov 03
Location: Eaton Bray, Bedfordshire
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Ok this has been a while, so I'll show working so people can correct me if/when im wrong;
Sub in y with (18.7 - z) which was ur second equation so;
(10x1.8) + ([18.7 - z] x 1.8) = z
18 + (33.66 - 1.8z) = z
51.66 - 1.8z = z
51.66 = 2.8z
18.45 = z
And then put this value for z into the other equation;
y = 18.7 - 18.45 = 0.25
Done!
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Reedy
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Registered: 11th Apr 04
Location: Hammersmith
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quote:
Originally posted by AndyKent
Its for a betting program.
I know the odds to place a back bet at, and want to cancel it out with a lay a few decimal places lower. This formula is how you calculate the right lay amount.
Basically, back a result with £10 at 1.87 = £18.70 if you win, -£10 if it looses but if you do, for example, £10 back at 1.87 and £10.20 lay at 1.8, you guarantee even profit on all outcomes.
This formula is (I think) how you calculate the optimum lay amount
dont forget to take into account betfairs 5% charge.
My housemate is creating a program like bet angel pro where it will trade out for you. Hes doing it for his dissertation, he has this crazy formula which backs and lays horses to almost guarantee a profit.
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Skylined
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Registered: 27th Sep 05
Location: Sideways, Surrey
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just got same answer using same method 
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John
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Registered: 30th Jun 03
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There are various spreadsheets available to save you doing the calculations by hand.
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James@CCC
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Registered: 10th Nov 03
Location: Eaton Bray, Bedfordshire
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quote:
Originally posted by Reedy
quote:
Originally posted by AndyKent
Its for a betting program.
I know the odds to place a back bet at, and want to cancel it out with a lay a few decimal places lower. This formula is how you calculate the right lay amount.
Basically, back a result with £10 at 1.87 = £18.70 if you win, -£10 if it looses but if you do, for example, £10 back at 1.87 and £10.20 lay at 1.8, you guarantee even profit on all outcomes.
This formula is (I think) how you calculate the optimum lay amount
dont forget to take into account betfairs 5% charge.
My housemate is creating a program like bet angel pro where it will trade out for you. Hes doing it for his dissertation, he has this crazy formula which backs and lays horses to almost guarantee a profit.
O yes, I played about with similar things. Its the 'almost' that screws you.
It may take a while to come up, but cos of the shear volume of bets you will be doing, it will come up one day and wipe out your profits.
As with all gambling, its risking only what you can afford, and knowing when to walk away while you are on top
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AndyKent
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Registered: 3rd Sep 05
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Brilliant, that is spot on, seems so simple now someone else has worked it through!
Another one for you to make sure my formula is right (I think it is).....
(20 * 1.25) + (y * 1.25) = z
y = 26 - z
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AndyKent
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Registered: 3rd Sep 05
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Yeh, thats pretty much what I'm doing. I believe I have a profitable strategy so current having the program run 24/7 to watch for the situations I'm looking for. At the moment it isn't placing any bets but for accurate data recording I need it to be working out the right lay amount so I can make sure it'll work before using real money. I hadn't forgotten the 5% commission, hopefully won't be a problem though - I'll be looking for around 10% return so should cover me ok.
I've found loads of online spreadsheets but none of them provide you with the formula to do the maths so thats why I've had to work it all backwards.
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JonnyJ
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Registered: 23rd Sep 05
Location: Scotchland
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Yeah that one is 7 mate, 7
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James@CCC
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Registered: 10th Nov 03
Location: Eaton Bray, Bedfordshire
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quote:
Originally posted by AndyKent
Brilliant, that is spot on, seems so simple now someone else has worked it through!
Another one for you to make sure my formula is right (I think it is).....
(20 * 1.25) + (y * 1.25) = z
y = 26 - z
This ones much messier
y = 0.44 (reoccuring)
z = 25.55 (reoccuring)
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AndyKent
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Registered: 3rd Sep 05
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Is a bit, but you came up with the answer I was thinking of.
Perfect mate, thanks for your help
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Paul_J
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Registered: 6th Jun 02
Location: London
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Sounds good Andy, let me know how you get on 
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Cavey
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Registered: 11th Nov 02
Location: Derby
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A mate of mine was out of work, so started betting and laying on various things, he makes about 13k a year, so doesn't bother working now, but now betting is boring as hell for him as it's essentially work!
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AndyKent
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Registered: 3rd Sep 05
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My plans are not to stop working, but a bit of extra income generated by an automated program would be ace
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Cavey
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Registered: 11th Nov 02
Location: Derby
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Yeah, obviously, but his situation was that he was out of work, and couldn't find anything, so in the end, had to make do with this, and started making decent money from it.
He wagered 5k+ on some days, but it's guaranteed he'll make something as he finds the right odds etc.
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