[Ganchrow]

If you're like me, you frequently reuse many of the same excel sports betting formulas. I've compiled a few related to odds manipulation into this Excel template file as VBA functions. Eventually, I plan to greatly expand on these.

Here are the included functions:

1. US2Dec(USOdds) (usage 1): Converts US-style to decimal. So US2Dec(-110) = 1.909090909
2. US2Dec(range of USOdds) (usage 2): Converts an array or Excel range of US-style odds to decimal parlay odds. So US2Dec(-110,-110) = 3.644628099
3. Dec2US(DecimalOdds): Converts decimal odds to US. So US2Dec(1.909090909) = -110.
4. US2Prob(USOdds) or Dec2Prob(DecimalOdds): Converts from US or decimal odds to probability. So US2Prob(+100) = Dec2Prob(2.0000) = 50%.
5. US2Hold(range of US Odds) or Dec2Hold(range of Decimal Odds): Calculates theoretical hold based on an Excel range of US or decimal odds. So if cells A1 and A2 are both -110, US2Hold(A1:A2) = 4.54545%.
6. {US2Real(range of US Odds)} or {Dec2Real(range of Decimal Odds)}: (array function) Returns an array of zero-vig probabilities based on an Excel range of US or decimal odds. So if cells A1 and A2 are both -110, if B1, B2, and B3 were set to the array formula {=US2Real(A1:A2)}, B1 and B2 would both have the value of 50%, and B3 would have the value of the theoretical hold (4.54545%).
7. ProbUS2Edge(Probability, USOdds) or ProbDec2Edge(Probability, DecimalOdds): Calculates edge based on win probability and US or decimal odds. So ProbUS2Edge(55%,-110) = 5%
8. EdgeUS2Prob(Edge, USOdds) or EdgeDecimal2Prob(Edge, DecimalOdds): Calculates win probability based on edge and US or decimal odds. So ProbUS2Edge(5%,-110) = 55%.
9. ProbEdge2US(Probability, Edge) or ProbEdge2Dec(Probability, Edge): Calculates US or decimal odds based on probability and edge. So ProbEdge2US(55%,5%) = -110.
10. US2Exch(US Odds, Commission) or Dec2Exch(Decimal Odds, Commission): Calculates sportsbook equivalent lines given either US or decimal odds and sports exchange commission.
11. ExchUS2Hold(range of US Odds, Commission) or ExchDec2Hold(range of Decimal Odds, Commission): Calculates theoretical hold including sports betting exchange commissions based on an Excel range of US or decimal odds. So if the values of cells A1 and A2 both equal -102 ExchUS2Holds(A1:A2,2%) would equal the theoretical hold theoretical on the -102/-012 market inclusive of 2% exchange commission (a value of 1.961%).

If you want these functions to be available every time you start Excel you'll need to save the Book.xlt template file in your Excel XLStart directory ("C:\Program Files\Microsoft Office\OFFICE11\XLSTART\" by default for Excel 2003). (If the file already exists you shouldn't overwrite but instead choose a different name as in the next paragraph. Alternatively, if you know what you're doing, you could manually add the Excel VBA functions or module to your preexisting Book.xlt file).

If you want these functions to only be available only by request then save the file under a different name in the XLStart directory. For example, if you saved the file as Ganchrow.xlt, then by clicking "New" on the "File" menu, you'd be able to select the template "Ganchrow" and have all the above functions available.

Download Book.xlt from this thread