Punters Calculator

in sports •  2 years ago  (edited)

Bet on multiple horses for a win in each race

Screenshot from 2018-02-24 10-05-15.png

Here's a spreadsheet you can use to bet on multiple horses, dogs, cars, ferrets or anything else that is possible to bet on and if any of your selections wins you can still turn a profit.

It's built on Dutch Book Theorem and it takes your total bet and divides it up into proportionate bets for each horse or ferret or whatever it is you are betting on.

All bets must be placed for a win for it to work for most races but sometimes it is possible to use it for place bets but the returns normally won't make it a viable prospect.

So to use the Calculator all you have to do is enter a few details and it will work out how much to bet on each horse or ferret.

So first save the spreadsheet and name it as Master or Master copy etc. Don't make any changes to this one keep it as a master copy.

Then when you open the file save a copy as something convenient like the racetrack and the race number etc. Something like Melbourne race 1 or Sydney race 5 or something suitable.

Then to use it.
1 Enter the name of each horse in the field below Horse Name (change the sample names to names you're betting on)
2 Enter the odds for each respective horse in the field below Odds (change the odds to match the real odds)
3 Enter the total amount you wish to bet under Total bet

Screenshot from 2018-02-24 11-07-49.png

The Amount to bet column tells you how much to wager on each horse

If the odds are favourable the profit will stay in the black but if your selections are not favourable the profit will turn red and show a negative number.

Most of the time you are only going to be betting on two or three horses but I have used this succcessfully in the Melbourne Cup to back 8 horses for a win and still turned a nice profit.

I made this with Libre Office Calc but it may also work with Excel, I don't use Excel so I can't verify that it will work on Excel. I've included an Excel version too but the formatting could be wrong or it just may not work. The Maths is fairly simple so it should be an easy fix to get it running if there are any problems.

This is in no way presented to be a way to guarantee success as a gambler & only ever bet as much as you can afford to lose.

Successful punting normally requires at lot of research to identify horses running over the odds (that is paying more than they should for a win) this tool is no substitute for that research but it can be a very handy tool if there several close contenders running over the odds or just for a casual flutter if you haven't got the time to invest in that research.

Punters Calc Open Office
Punters Calc Excel

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Awesome! I'm pretty sure the fact you can run a Dutch book against a someone means something about whether or not they are rational - or something like that - that's a class that was a long time ago.

Oh yeah it's gets fairly complex when you view in a philosophical context Sam.

Ramsey wrote about in Truth and probability and it's been a subject of debate for years.
Dutch book arguments

  ·  2 years ago (edited)

Double post

Very interesting @khufu.

Good stuff. Will give this a bash when I get home.