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Your Price / The arithmetic
The spread, converted
The spread in money, on the same stake and the same selection
Odds hide the size of a price difference, because 0.12 looks like nothing. The same 0.12 on a stake is a number a reader can weigh, and this page does the conversion honestly: it is additional potential return before the outcome, not a gain.
Desk spec
- levels
- 5
- stake used
- 25.00
- widest return gap
- 3.00
- month of turnover
- 3,000.00
the market priceThe price shown beside a selection before an account is considered. On the samples it is 1.90 on every screen, and it is the price the receipt is measured against.
the quoteThe price your own account is offered. Across 120 accounts on one selection it ran from 1.88 to 2.00, a spread of 6.4%, and 42 of the 120 accounts were offered the market price exactly.
the receiptThe price at the moment you accept governs the bet. Of 100 disputed quotes the receipt price governed 100 and the headline price governed none of them.
Direct answerA 0.12 difference in price is small in odds and not small in money: on a 25.00 stake, the two ends of the sample return 47.00 and 50.00, which is 3.00 for the same selection, the same stake and the same minute. Across 120 quotes at an average 25.00 stake the whole spread is 70.50 of additional potential return - not a gain.
Six gaps between five levels
The five quoted levels produce ten pairwise comparisons, and six of them are adjacent or end-to-end steps worth naming. Every one of them is the same arithmetic: a price multiplied by a stake.
Sample A and G - one selection, five levels, a fixed 25.00 stake
| Comparison | Price gap | Return gap on 25.00 | As a share of the stake |
|---|
| 1.88 against 1.90 | 0.02 | 0.50 | 2.0% |
| 1.88 against 1.92 | 0.04 | 1.00 | 4.0% |
| 1.88 against 1.95 | 0.07 | 1.75 | 7.0% |
| 1.88 against 2.00 | 0.12 | 3.00 | 12.0% |
| 1.90 against 2.00 | 0.10 | 2.50 | 10.0% |
| 1.95 against 2.00 | 0.05 | 1.25 | 5.0% |
| all five levels | 0.12 | 3.00 | 12.0% of the stake |
sample A - six gaps, one multiplication each
on a 25.00 stake, every gap is the price gap multiplied by 25.00:
1.88 to 1.90 -> 25.00 x 0.02 = 0.50
1.88 to 1.92 -> 25.00 x 0.04 = 1.00
1.88 to 1.95 -> 25.00 x 0.07 = 1.75
1.88 to 2.00 -> 25.00 x 0.12 = 3.00
1.90 to 2.00 -> 25.00 x 0.10 = 2.50
1.95 to 2.00 -> 25.00 x 0.05 = 1.25
and the same gap as a share of the stake is the price gap divided by the stake:
0.12 / 25.00 = 0.48% of the money at risk, which is the honest way to say
that a 6.4% price difference is a 0.48% difference in what is at stake
on a single bet, because the stake is returned inside the return.
Carried across a month, and a year
A single bet is the wrong unit for a reader who bets regularly, because the spread repeats. The month in sample G is 120 quotes at an average 25.00 stake; the same reader pattern at twelve bets a month is sample J.
sample G and J - the spread over a month and a year
the sample month: 120 quotes x 25.00 average = 3,000.00 staked
mean quote 1.9235 against a market price of 1.90 = 1.24% better in price terms
in money: 3,000.00 x 0.0124 = 37.20 by the rate
in money by the sums: 25.00 x 2.82 = 70.50
the difference between the two figures is a rounding artefact of taking the
mean first and multiplying second, and the exact figure is the 70.50,
because 1.9235 - 1.90 = 0.0235 and 120 x 25.00 x 0.0235 = 70.50
one reader at 12 bets a month: 12 x 25.00 = 300.00 a month = 3,600.00 a year
at the sample's 1.24% that is 300.00 x 0.0124 = 3.72 a month,
or 44.64 a year of additional potential return - and a reader quoted
1.88 rather than the market price is 1.053% the other way, which is
300.00 x 0.01053 = 3.16 a month against them.
Check the spread in your own account
- Write down the price you were quoted and the market price on the selection, on the same bet.
- Multiply the difference by the stake to get the number that matters.
- Repeat it on five selections to see whether the gap is consistent or occasional.
- Note which of the four mechanisms each gap matches, since only one of them is yours to choose.
- Compare the total against your monthly turnover, not against a single bet.
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