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A couple formulas for anyone using decimal odds
Formula #1
1/the price (rounded up)=the percentage of wins it takes to make a profit.
For example 1/1.90=.5263 or roughly 53%
So if you made 100 picks @1.90 you would have to win 53 of them to make a profit.
Formula #2
1/ your win percentage=the average price (rounded up)that you should be getting to make a profit
For example 1/.53=1.89
So if you made 100 picks and won 53% of the time you would have to be getting an average price of 1.89 to make a profit.
good info
I've got a spreadsheet that is spitting out win probabilities, based on pythagorean win% and using something called a log5 formula to calculate the win probability. The decimal odds that it's spitting out (1/winprob) seems too extreme. Any suggestions?
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