The purpose of this program is to calculate the fair return on a soccer or Test cricket match, given that you know what the odds of both teams winning are (or at least what’s being offered on those sides).
You would use this program if you were a BetFair user and wanted to find an opportunity for arbitrage on a soccer or Test cricket match.
The program starts with all values at 3 00. This represents $3.00 in the decimal system of odds measurement. To change the odds for either Team One or Team Two, click on the green or red buttons next to the starting values. The green buttons increase the value and the red ones decrease it. The number (-1 or -10) represents by how many cents the value will change when you press that button.
When you change the values for either Team One or Team Two, the fair odds of a Draw will change. They are calculated on the fly so that the odds for Team One, Team Two and the Draw all add up to 100% exactly. In other words, as the odds for either team go up, the odds for the draw will go down, and vice-versa.
The most obvious use for this program is to calculate the arbitrage points for betting on the draw.
Using the above as an example (screenshot taken at Lunch on the first day of the Black Caps vs. South Africa Test in Durban, 2016), you can enter 2.16 for Team One and 5.9 for Team Two.
The most basic way to use this program is to calculate if the draw if overvalued or undervalued, and, if either, to lay or back it respectively.