Posted:
#1
I currently have an Excel spreadsheet where I can figure out the appropriate hedge amount if I need to hedge, but I have to plug in numbers in a trial and error type fashion.
I've tried about 20 hedge calculators online, but they all give the wrong answer. As an example, say I bet $10 on a 2 team parlay to win $26. To hedge at -110 odds, I would single wager 18.85 on the other side of the second game to guarantee a $7.15 profit no matter the outcome of the second game.
I've looked at the formula for Arbitrage betting, but it doesn't seem to work with -
s1 = 10
s2 = ?
o1 = 2.6
o2 = .9090
r1 = 26
r2 = ?
where s = stakes, o = odds and r = results.
Anyone have a formula handy to calculate a maximum profit hedge?
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