I'm looking for a new hedging calculator that will calculate optimum back stakes for when back odds rise and a lay has been staked. Can anyone help me out? I haven't used any calcs in a while and all the ones I'm finding only calculate lay stakes.
Back stake = lay liability / back odds ?
ie if you layed £50@2 intending to lay off a £50 back bet at 2, your lay liability is £100. If the back odds rise to 4, the optimal amount to back would be £100/4=£25 for a £25 hedged profit. If you want to be really bang on re commission then do a quick formula to take commission into account, but by and large you won't be a long way off doing the above.
edit: by 'lay liability' I mean 'lay odds * lay stake'