I am looking for a simple loss recovery betting calculator to implement into a new horseracing tipster website.
The system for 1 race at a time.
The stake needs to be variable, but for this example we'll use a profit of £10 per race.
1 2 3 4 5 6 7 8 9
POINTS TIME HORSE ODDS STAKE RESULT W/L PROFIT POINTS
10 1.50 DOBBIN 3.0 5.0 L 15 25
25 2.30 BLUE 4.0 9.0 W 36 22 10
1 POINTS. This shows the amount you wish to profit by at the end of each race.
2 TIME. Shows the time of the race.
3 HORSE. The name of the horse
4 ODDS. The odds available for that horse in decimal format.
5 STAKE. The stake you place at the odds shown in column 4
6 RESULT. The result of the race w=win l=lose
7 W/L This is the winnings (stake included) or the amount needed to get back into profit
8 PROFIT. This is your profit from a win.
9 POINTS. This is the number of points required for the next race.
Column 1 shows 10 points. Odds of 3.0 Therefore divide 10 by 2.0=£5 stake. Odds of 3.0 include stake which means the odds are really 2.0 excluding stake.
So this £5 goes ito the stake column. If the race wins, we make our £10 profit as well as get our stake returned. In this case we lost...so here are the workings to recover this loss.
Add the points in column 1 and the stake in column 5 and put that figure in column 7. Now add 10 to the figure in column 7 and put the total in column 9.
This is the points required to catch up your profit and is carried to column 1 on the next line, and the same process begins again.
All stakes are to be rounded up to the nearest whole number.
We need a calculator based on the above workings that can accept 5 races at a time, and carry losses over to the following day, as opposed to the above which concentrates on 1 race at a time.
The idea is to still be able to get bets on for people who have to work all day, or can't access the computer during working hours.
The calc needs to look simple and friendly to use, we don't need to see the workings as above.
The daily stake needs to be variable.
6 freelancers are bidding on average $273 for this job
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