I am using $100 as the base amount in this example. The odds are -110 at bodog and +113 on Matchbook. Of course at matchbook there is a 1 percent fee for taking an offer and that is the problem i have here when doing an arb because i don't know what numbers to plug on scalpulator because of the 1 percent fee. The main reason why i am doing this is because i have a lot of commission credits and i want to use them up and have them convert into cash.
But this is what i got
Bodog
110 to win 100 on Jags +3 at -110 odds.
Matchbook
98.59 to win 111.41 on Titans -3 at +113 odds.
If i win at bodog, i win $100 there. Then i lose 98.59 plus 1 percent commission credit = 99.58 at matchbook. So profit on this arb is 100-99.58=0.42
If i win at matchbook, i win 111.41. But then pay commission on the lower amount which is .99. Profit here is 110.42-110 = 0.42
The thing however is since i got these commission credits back into cash, i essentially turned 0.99 from commission credits into my cash balance which is what i wanted.
I use scalpulator and its easy b/c all you have to do is plug numbers. However, if i use matchbook as one of the books, i get confused because of the 1 percent and don't know what to put on the 2nd line when first line is -110. I came up with 98.59 by just plugging in numbers and using trial and error to get it correct and saw that 98.59 at +113 odds at matchbook would net 0.42 in profit on both sides unless of course titans win by exactly 3 which would push. Can someone here help me on how to get the 98.59 number correctly to arb this. Now if this was at 2 regular books, i would just plug it in scalpulator and it would be easy but with matchbook, i don't know the exact number to plug in.
But this is what i got
Bodog
110 to win 100 on Jags +3 at -110 odds.
Matchbook
98.59 to win 111.41 on Titans -3 at +113 odds.
If i win at bodog, i win $100 there. Then i lose 98.59 plus 1 percent commission credit = 99.58 at matchbook. So profit on this arb is 100-99.58=0.42
If i win at matchbook, i win 111.41. But then pay commission on the lower amount which is .99. Profit here is 110.42-110 = 0.42
The thing however is since i got these commission credits back into cash, i essentially turned 0.99 from commission credits into my cash balance which is what i wanted.
I use scalpulator and its easy b/c all you have to do is plug numbers. However, if i use matchbook as one of the books, i get confused because of the 1 percent and don't know what to put on the 2nd line when first line is -110. I came up with 98.59 by just plugging in numbers and using trial and error to get it correct and saw that 98.59 at +113 odds at matchbook would net 0.42 in profit on both sides unless of course titans win by exactly 3 which would push. Can someone here help me on how to get the 98.59 number correctly to arb this. Now if this was at 2 regular books, i would just plug it in scalpulator and it would be easy but with matchbook, i don't know the exact number to plug in.
