Whats x1 and x0

[Rishman]

Hi guys,

i'm a new user to oddswizard and already i'm seeing how powerful it is, however in stake wizard after computed results how would one know which row showing the result as there are many.... i have a vague understanding of it and presume that x1 or x0 is where the value lies.

E.g. Say i'm a bookie and i want to know the highest/maximum stake limit i should set in accordance with my pay-out reserve (as i wouldn't like to have high risks and liabilities) so:

"FUND" = 1000$ "MIN STAKE" = 0.25 and "TARGET" = 10times more than fund by default. Then "MODE" = Regular "ACCUM" = 6 and finally "S/Comp" = 1 (as i'm a bookie other wise 100).
Therefore computed results for ReadingF.C vs Westham UTD(01-09-07). HOMEWIN fair=1.63 line=2.1 status=0:3LOST
shown as:

"A": (p%= 61.3) (R95=179.6) (R ave=73.76) (Zsuc=16.8 ) (Z ave%=3.17) (L=2.1) (x0=847.25) (x1=152.75A)

Which one of these is the stake limit for a player IS IT X0 OR X1? Also what use does minstake have? i mean it makes no difference in the computation weather 1, 5, or 0.25.

Asking for some assistance. Thankfuly.

-Rishman...

[Alex]

Stake Wizard is a tool for betting purposes, but some users try to use it for bookmaking. Is it possible? I'll try to answer here.

Which one of these is the stake limit for a player IS IT X0 OR X1?

X0 is amount to be set aside (not to bet).
X1,X2,... are amounts to be bet by the player.

To avoid total confusion (sorry, seems to be the case) about Stake Wizard's functions and capabilities, I would like to suggest a simple example. Let's say Odds Wizard has computed fair odds for some event 2.15. Then you must find an average market odds for the same event to be less than 2.15, let's say 1.90. Now stop at this point. At this point, you are already ready to offer the odds 1.90. Odds Wizard's odds are not the odds that you are going to offer. They are just indicator of whether the market odds can be offered.

You may ask, why do you need Odds Wizard's odds as they are not to be used in your offer at all? Take the odds 1.90, and calculate maximum allowed stake simply by solving an equation (1000 + x) / 1.90 = x, where x appears to be 1111. Now check the result: user's stake 1111 has won, then you must pay out as much as 1111 * 1.9 = 2111 which is equal to the sum of your intial fund 1000 plus user's stake 1111.

So why do you need Odds Wizard with its odds? Imagine that computed fair odds were equal to 1.70 while the market odds were still 1.90. This means that you must offer the odds that are greater than fair odds. This may cause potential losses for you as a bookmaker!

Conclusion 1. Use Odds Wizard to filter out dangerous events where Fair odds appear to be less than the odds to be offered.

You may also ask why not to simply reduce the odds to the safe level? The answer: because the bettors always seek for the highest available odds on the market.

Conclusion 2. Use Odds Wizard to make your offered odds somewhat higher than those on the market using Odds Wizard's computed fair odds limit. In the above example, you are able to increase your offered odds from the market level 1.90 to 2.00 in order to make them more attractive. Fair odds 2.15 are still higher than 2.00.

Now ask what about Stake Wizard tool? While Stake Wizard was desined for the betting purpose, it is still can be used for the laying odds at betting exchanges using Bettor/Bookie transforms. Laid (bookie) odds L can be represented as the normal odds with the following transformations of fair odds F, stake S, and odds L:

F' = 1/(1-1/F)
S' = (L-1)*S
B' = L/(L-1)

The pair B' > F' now can be used as an input for Stake Wizard bet optimizer. Afterwards, optimal stake value S' shoud be converted back to S = S'/(L-1).

Note however that this Stake Wizard's function is neither documented, nor recommended, nor tested, etc.

Conclusion 3. Don't take a risk of using Stake Wizard for unusual purposes. While there is above formalism for the laying at betting exchanges, using Stake Wizard for calculating bookmaker's investment amounts is absolutely impossible.