Would someone be so kind as to post the basic formula for doing this. I can figure them out game by game, but I used to have a spreadsheet that did it in a second. Can't figure out what I did with it, and am not bright enough to figure out the math. Any help appreciated.
Here’s the formula for creating a -1 ARL with some of my editing:
Figure out what to bet on the ML, then bet all the would be profits from that on the -1.5 line.
Using this Example:
Favorite ML (-132)
Favorite -1.5 RL (+164)
Take 100/132=.7576
Add 1 = 1.7576
Take 100 and divide by 1.7576 =$56.90
Bet $56.90 at -132 to win $43.11
Bet $43.11 at -1.5 (+164) to win $70.70.
This makes the -1 ARL + 114
If the favorite wins by 1, you break even, just like the -1 line.
If they win by 2 or more, you win $113.81.