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Converting lay odds to back odds

On a betting exchange there are two types off odds quoted - back and lay odds whereas traditional bookmakers deal only with back odds. Taking a lay position on outcome 1 is equivalent to taking a back position on outcomes X2 (double chance bet). Respectively taking a lay position on outcome 2 is equivalent to taking a back position on outcomes 1X. Since laying an outcome can be regarded as backing the alternative outcomes, lay odds can be converted into equivalent back odds. This calculator finds that equivalent taking also into account the commission charged by the exchange.


Formula

formula for converting lay odds to back odds
where
oBE  - effective back odds oL  - lay odds offered on the exchange
c   - commission charged

Calculator

Please fill the following fields:
Lay odds: ← the lay odds (in decimal form) offered on the exchange
Commission: % ← optional: the commission charged by the exchange