Not sure if I should be posting this here but here it goes.
This is a question about Google Sheets and perhaps basic Math I guess.
I have this Google Sheets doc where I made the first table where I calculate the True Probability of an event, win or lose, according to the Odds given by the Bookie. It also calculates the VIG or Margin the Bookie takes from a line.
So on the first table we can edit the values in red. The values are in decimal odds not American odds. On the Google Sheet file I show below these red cells are connected to the table bellow because I am trying the first table in order to understand if the calculations on the second are done right.
On the second table we can edit the values in red: VIG and True Probability. I have a equal layout but with this table I wanted to do the opposite:
I want to introduce a VIG % of my choice and Real Probability of my choice and I want the rest of the table to calculate what would be the odds a Bookie would make given a certain VIG%/margin and True Probability of an event.
I almost got it right except that the VIG on the first table is always slightly higher than the VIG I introduce on the second table.
The doc I will show you uses 5% VIG as an example. On the 1st table I get a 5.26% and I want both values to be the same = 5% or whatever value. The difference seems to get higher exponentially if I increase the VIG. Have no idea why.
So I am using the first table as a comparison to see if my calculations on the second table to reverse calculate the VIG are done right.
I hope I was clear.
Here is the link to the file:https://docs.google.com/spreadsheets/d/1UqYuIqhfVfexd3ghFwNgwjX1xkbAqOS7PKhkgcSMgoI/edit?usp=sharing