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Because the betting tracker spreadsheet is designed to appeal to beginner and experienced punters alike, there is not substantial support built in for Betfair. With that being said, v1.10 onwards supports Betfair commissions, which makes inputting back bets easy. Because the spreadsheet doesn't intrinsically support lay bets, you have to input the equivalent back bets instead.
If you place a lay bet with Betfair, we recommend you input it into the spreadsheet as follows. This example is for a $5.00 wager against an outcome at 4.00 odds. $5.00 is the lay stake amount and the lay odds are 4.00.
Once the bet has concluded:
If you place both back and lay bets on the same market, you can use the above instructions for the lay bets as per normal. Once the event has concluded, update the commission column (using trial and error if necessary) so that the winning bet(s) profits equal those shown in the Betfair account area. This will be achieved by lowering the commission amount. You do not need to update the commissions for the losing wagers.
Note that while the instructions above have been written exclusively for Betfair, they should apply to other betting exchanges too.
If you place a lay bet with Betfair, we recommend you input it into the spreadsheet as follows. This example is for a $5.00 wager against an outcome at 4.00 odds. $5.00 is the lay stake amount and the lay odds are 4.00.
- Input the stake amount as stake * (lay odds - 1), i.e "=5.00*3"
- This reflects the fact that you have put $15.00 at risk by placing the wager.
- Input the odds as 1 + 1/(lay odds - 1), i.e "=1 + 1/3"
- This reflects the fact that you have put $15.00 at risk for the possibility of winning a $5.00 profit. The bet is equivalent to wagering $15 at 1.33 odds, because $15*1.33 = $20, and $20 - $15 = $5.
- Input your Betfair commission into the appropriate column. Input 5% if you are unsure what it currently is.
Once the bet has concluded:
- Input Y or N into the win column, depending on whether the bet won or lost.
- If necessary, update the commission column accordingly.
If you place both back and lay bets on the same market, you can use the above instructions for the lay bets as per normal. Once the event has concluded, update the commission column (using trial and error if necessary) so that the winning bet(s) profits equal those shown in the Betfair account area. This will be achieved by lowering the commission amount. You do not need to update the commissions for the losing wagers.
Note that while the instructions above have been written exclusively for Betfair, they should apply to other betting exchanges too.
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