Originally Posted by
yisman
thanks.
I'm looking for effective wagering.
Ganchrow, I'll use your method for something else and see if I got it right.
Odds are +225 and +240
Odds(not A) = -100*(3.25 + 3.4)/(3.4*3.25 - 3.4 - 3.25) ≈ x
-100 * 6.65 / 11.05 -6.65
-665 / 4.4 ≈ -151.14 = x
Did I do that correctly?
Yes, that is correct.
A potentially more intuitive way of looking at this would be in terms of implied probabilities:
Event X: +225 ⇒ Prob. = 100/(100+225) ≈ 30.769%
Event Y: +240 ⇒ Prob. = 100/(100+240) ≈ 29.412%
Hence:
Prob(Not A) = Prob(X or Y) ≈ 30.769% + 29.412% ≈ 60.181%
Prob. of 60.181% ⇒ decimal odds = 1/60.181% ≈ 1.6617
1.6617
converted to US-style odds = -100/(1.6617-1) ≈ -151.14