Multi betting / accumulators / parlays

[admin]

To input a multi bet / accumulator / parlay, input the combined wagers as one bet. The odds will equal the product of the decimal odds.

For example, if you have a 3-leg multi bet with decimal odds of 2.60, 1.60 and 2.20, input the odds as =2.60*1.60*2.20

If you are using the spreadsheet with fractional odds, you can't multiple the fractional odds together to get the multi odds. You must first add 1 to each set of odds. This is because odds such as 8/15 in the UK correspond to 1 + 8/15 in decimal. You always add one to convert.

Suppose you have a five-leg multi bet that consists of the following fractional odds: 11/10, 8/15, 4/11, 4/9, 10/11.

If you're using the spreadsheet in fractional form, the correct formula is:
=(1 + 11/10)*(1 + 8/15)*(1 + 4/11)*(1 + 4/9)*(1 + 10/11) - 1

If you're using the spreadsheet in decimal form, the correct formula would be:
=(1 + 11/10)*(1 + 8/15)*(1 + 4/11)*(1 + 4/9)*(1 + 10/11)

Exotic multiples

At this stage exotic multiples (Trixies, Patents, Yankees, ...) are not explicitly supported. For these wagers you should input numerous bets to represent each possible payout combination. For example, using a Patent bet as an example, if you have a $10 base bet and every selection has 2.00 odds, you get the following wager:

The Patent bet ($10 * 7 = $70 wagered in total) will consist of:

• 3 singles at 2.00 odds
• 3 doubles at 4.00 odds (2.00 * 2.00)
• 1 treble at 8.00 odds (2.00 * 2.00 * 2.00)

In the spreadsheet you would input three $10 wagers at 2.00 odds, three $10 wagers at 4.00 odds, and one $10 wager at 8.00 odds. You would individually update each inputted bet based on which leg(s) of the Patent won.

You can learn more about exotic multiples here.

[admin]

Below is a suggested method for inputting multi bets. The rows that contain the Date, Agency and Sport inputs are the only ones that are followed by the tracking sheet. The other rows are for your reference only. Any row that doesn't have Date, Agency and Sport inputs are associated with the nearest betting details above it. You can use the Final Score column to track which legs of the multi bet won and lost. If you have a multi bet that covers more than one sport you could input something like 'Mixed' into the Sport column. Just be sure to add 'Mixed' into the Settings sheet first. The same goes for Bet Type.

For the wager odds, you can input them using the instructions at the beginning of this thread. In the examples below, with the workbook in decimal format, the two sets of odds are:
=1.29*1.75*1.07*1.29 (equals 3.12)
=1.09*1.4*1.8*1.07 (equals 2.94)

[admin]

Below is a suggested method for inputting exotic multiples. Click here to learn more about exotic multiples.

This example is for four fixtures with odds:

Game A: 1.65
Game B: 2.55
Game C: 1.28
Game D: 1.24

Let's assume A, C and D win, while the Game B selection is a losing bet.

If we make doubles, triples and accumulator wagers of $1.00 each we have:

6x $1.00 doubles = $6.00 total doubles wager (2 of the 4 must win)
4x $1.00 triples = $4.00 total triples wager (3 of the 4 must win)
1x $1.00 accumulator wager (all 4 must win)
TOTAL COMBINED WAGER = $11.00 (11 wagers in all)

You can input this exotic bet as follows. The odds equal the product of the games used in each bet. So for the first double (Game A, Game B) the odds are "=1.65*2.55". For the first triple (Game A, B, C) the odds are "=1.65*2.55*1.28."

All lines with Game B in are losing bets, while all lines without Game B are winning bets.

[Tommy]

I have just found this fantastic sheet and can't tell you how exited I am to start tracking with it! Two quick questions (apologize if this is not the right area). Is there a formula to enter US odds for Parlays? I tried this for two games that were -550 and -170 =(100/550+1) * (100/170+1) but that did not produce an accurate result. it should be $50.00 to win $43.85 totaling $93.85. Is there a way to just enter the information manually perhaps? The reason I ask is I'm looking to input over 1,000 previous plays and converting to decimal would be tedious, thanks again for this tremendous resource!

[admin]

Hi Tommy, I'm glad you like the spreadsheet!

The formula you have calculated above gives the decimal multi odds of 1.88. If you have set the workbook to American odds in the Settings worksheet this number would need to be converted back to American odds.

If the decimal multi odds are less than 2.00 then you need to convert it back to American odds as follows:

=-100/((100/550+1) * (100/170+1) - 1)

In this case you get -114.02.

If you place parlay/multi wagers regularly then data entry could be tedious because the formulas depend on whether the American odds are above or below 2.00 in decimal odds.

I recommend you download the following workbook and then insert it as a new sheet in your betting tracker:

http://www.aussportsbetting.com/2012...ator_v1_0.xlsx

I've only just made it now so there may be a few bugs, but it would provide a convenient means of calculating parlay/multi odds when using the spreadsheet with American odds. My recommendation is to calculate the American parlay odds using the sheet and use Copy, then 'Paste Values' into your Bets worksheet to avoid any rounding errors.

Hope that helps! Let me know if you have further problems or questions.

[arsqldba]

Hi Tommy, I'm glad you like the spreadsheet!

The formula you have calculated above gives the decimal multi odds of 1.88. If you have set the workbook to American odds in the Settings worksheet this number would need to be converted back to American odds.

If the decimal multi odds are less than 2.00 then you need to convert it back to American odds as follows:

=-100/((100/550+1) * (100/170+1) - 1)

In this case you get -114.02.

If you place parlay/multi wagers regularly then data entry could be tedious because the formulas depend on whether the American odds are above or below 2.00 in decimal odds.

I recommend you download the following workbook and then insert it as a new sheet in your betting tracker:

http://www.aussportsbetting.com/2012...ator_v1_0.xlsx

I've only just made it now so there may be a few bugs, but it would provide a convenient means of calculating parlay/multi odds when using the spreadsheet with American odds. My recommendation is to calculate the American parlay odds using the sheet and use Copy, then 'Paste Values' into your Bets worksheet to avoid any rounding errors.

Hope that helps! Let me know if you have further problems or questions.

I may have a similar issue with Round Robin bets by 2s, 3s, and 4s. Would this spreadsheet help or is it now baked in. Anywhere else I may be able to find this sheet?

[admin]

Round Robin bets are a challenge because the winning odds depend on which combination of bets win(s).

Currently the only way to enter these bets is either:

1. (Exact) Input every combination as a separate bet

2. (Crude) Enter the Round Robin bet as one bet and then manually update the odds at the conclusion of the bets to reflect the pay out. If you have a pay out that is less than the total stake then split the bet into two. One would contain the winning leg(s) and the other would be entered as a losing bet containing the combined stakes of all of the losing legs.

[koudas24]

Hey Admin,

Great spreadsheet! I have a question though, so i mainly bet parleys. Using the above method is good but regarding the performance summary tab i want to see how good I am doing regarding each sport.

If i add the sport instead of putting it mixed it messes with my betting performance showing an additional bet when there wasn't. Is there anyway i could be able to classify each game in a parley into a sports category without making the spreadsheet think its an another bet.

Thanks again for the great spreadsheet!

[admin]

Hi koudas24,

Thank you, I'm glad you like the spreadsheet.

What you've described is a current weakness of the spreadsheet. If you make heavy use of parlays, one option is you maintain two copies of the spreadsheet. In one you record the parlay outcomes and in the other you record the individual leg outcomes. The parlay sheet would be for profit & loss monitoring and the individual leg copy would be for individual sport performance analysis.

Hopefully (once I can find the time!) the next version will provide support for individual leg performance metrics within the parlays.