jeudi 18 novembre 2021

How to calculate sports betting wins and losses in excel?

I am looking to calculate sports betting outcomes for favorites and underdogs. All of the columns that are orange are automated.

The "Stars" column is just a recommendation for bet size as a percentage of your portfolio.

The "Risk" and "To Win" formulas are very simple.

The formula for the cell "Risk" is: Odds * Stars or cell U2 * W2. So -110 * 2 = -220.

The formula for the cell "To Win" is: Payout * Stars or cell V2 * W2. So 100 * 2 = 200.

I am having trouble with the cell "Outcome", however.

The current formula I am using for the cell "Outcome" is: =SUM(Y2 * Z2) + (AA2 * X2). The formula works fine for bets that are winning favorites and losing favorites.

The error is with winning underdog bets and losing underdog bets. You can find an example of my desired Outcome at the bottom of this question.

Favorite bets are when the "Odds" are negative or less than zero. Underdog bets are when the "Odds" are positive or greater than zero.

For example:

-110 is a favorite 110 is an underdog

I am trying to think of a way to calculate the "Outcome" cell with an if or elif statement. For example, IF the "Win" column is greater than 0 do one formula... ELIF the "Lose" column is greater than 0 do another formula.

I am currently just entering a 1 in the Win column for a win... and a 1 in the lose column if it is a loss.

Any suggestions would be greatly appreciated. Thanks in advance for any help that you many offer. Below is a picture of the excel table I am working with.

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The output that I am looking for is:

           Outcome (current)                    Outcome (desired)
win fav        200                                200

win dog        200 (here is the error)            220   

lose fav      -220                               -220

lose dog       220 (here is the error)           -200  

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