Beat Close % Question

[Trader]

Hi,

I am using the “Betting Tracker Advanced v2.14” version and I have a slight issue.

On the “Bets” worksheet under the odds section I put in 2.16 and under the Closing Odds section I put in 2.41 and the resulting Beat close % came out as -17.7%.

I don’t understand how it came out with this number as it should read -4.8%.

Please note that I have the “odds type” as decimal in the "Settings" worksheet.

Any feedback would be appreciated. Thank you.

Love the spreadsheet btw.

[admin]

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

The beat close % is calculated as how much net profit you beat the closing odds by.

If you wagered at 2.16 and the closing odds were 2.41, the beat close is (2.16 - 2.41) / (2.41 -1) = -17.7%, Alternatively you can think of it as ((2.16 - 1) - (2.41 - 1)) / (2.41 -1) = -17.7%.

To illustrate, suppose the wager wins:

If you had wagered $100 at 2.16 odds you would have a payout of $216 for a profit of $116.
If you had wagered $100 at 2.41 odds you would have a payout of $241 for a profit of $141.

The profit of $116 is 17.7% lower than $141, i.e. (116 - 141)/141 = -17.7%.

If you don't like this approach, feel free to amend the Bets worksheet to use a different calculation.

Let me know if you have further questions.

[Trader]

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

The beat close % is calculated as how much net profit you beat the closing odds by.

If you wagered at 2.16 and the closing odds were 2.41, the beat close is (2.16 - 2.41) / (2.41 -1) = -17.7%, Alternatively you can think of it as ((2.16 - 1) - (2.41 - 1)) / (2.41 -1) = -17.7%.

To illustrate, suppose the wager wins:

If you had wagered $100 at 2.16 odds you would have a payout of $216 for a profit of $116.
If you had wagered $100 at 2.41 odds you would have a payout of $241 for a profit of $141.

The profit of $116 is 17.7% lower than $141, i.e. (116 - 141)/141 = -17.7%.

If you don't like this approach, feel free to amend the Bets worksheet to use a different calculation.

Let me know if you have further questions.

Correction, I love the spreadsheet

Thank you for the detailed explanation, it was very helpful. I am sure I will have a few more questions as I have just started diving into it.

Thank you again. Much appreciated.