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How do books calculate cashout

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Let’s say that someone places a bet:

100€ @4.00

now inplay the odd goes down to @2.00

his potential winnings is 400€

and the fair cashout is: (4/2)*100= 200€


this is not the case though since books apply margin on cashout amount. Does anyone have any idea how to derive this? Assume 8% percentage for the cashout, i know for a fact that margin moves along with the odds. The longer the inplay odd the greater the marginand vice versa. Any idea how to calculate margin?

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