Determining "daily edge"

[Wayfarer]

Let's say you bet 2 games.

Game A you beat the closing number by 10 cents
Game B you the closing number beats you by 6 cents

Overall you have beaten the closing lines by 4 cents.

Assuming that both markets are equally efficient is this a reasonable way to determine whether or not you have an overall edge on your wagers for the day?

[xyz]

One thing you need to consider are the actual odds you are beating. Beating a -500 by 6 cents is very different from beating a -110 by 6 cents.

[Wayfarer]

Very true. The percentage you beat(or lost) the line by would then be a potentially more useful indicator?

[Data]

Without accounting for the stakes sizes you cannot assess your perceived edge. I think the better approach is to calculate the change of your position worth using the same spreadsheet I referred you to in another thread:

http://forum.sbrforum.com/handicapper-think-tank/26617-overbets-line-changes-kelly-spreadsheet.html

[Wayfarer]

Thank you Data, very useful info there.

[Data]

You're welcome, sir. Actually, you do not need the spreadsheet for this. You can just price your position to market. The spreadsheet is invaluable nonetheless, it perfectly illustrates that the size of your position is essential.