Simple math break even strike rate

[Mcdonkey]

I'm terrible at math , what is my strike rake to break even if I place £100 and I gain £50 on the bet? I know you need 50%+ on a £100 bet to make £100.

[Derek27]

I'm terrible at math , what is my strike rake to break even if I place £100 and I gain £50 on the bet? I know you need 50%+ on a £100 bet to make £100.

Assuming you lose you're full £100 liability, it's liability divided by return: £100 / (£100 + £50) = 2/3 or approximately 67%.

[rik]

1 / odds is implied chance, strike rate needs to be than that to be profitable

[Mcdonkey]

Thx alot guys

[Trader724]

Or 100/((x/y)+1) where x is average win and y is average loss.

[firlandsfarm]

I'm terrible at math , what is my strike rake to break even if I place £100 and I gain £50 on the bet? I know you need 50%+ on a £100 bet to make £100.

Sorry, I'm not sure I understand your question Mcdonkey ... it seems you are referring to just one bet. I see strike rate as being independent of odds/return. If you place 100 bets and 60 of them win I would say your strike rate is 60%.

Now if those bets are for £1 each and the 60 winning bets return say £125 including the return of the stakes, then your profit will be £25 or a Profitability of +25%.

If you place one bet of £100 and you "gain £50 on the bet", i.e. it wins, then your strike rate is 100% (1 win/1 bet) and your profitability is 50%. If your example was made up of more than one bet then your Profitability would stay the same, 50%, but your strike rate could not be calculated without knowing the number of bets placed and the number that won.

Some may feel I'm splitting hairs but as someone who assesses tipping services for a blog I feel it's important to make the distinction. A matrix of Strike Rate and Profitability can give an insight to the underlying bets (or positions taken if trading) and the success of them.