Hypothetically when a tipster uses 2.0 average odds he has to hit 50% win rate to break even*.
That is a rather simple math, but how do you calculate the required win rate if the average odds stat is a different value?
Bellow is a very handy formula provide by https://lucky-7.blogabet.com/ that makes very easy to calculate profitability for any average odds.
Simply divide 1 by the average odds of the tipster and that gives you percentage of win rate you need to break even. For instance average odd 2.5
1/2.5 = 0.4
or in other word 40% win rate is needed to break even with such averaged odds used.
* Break-even (or break even) is the point of balance making neither a profit nor a loss
** Odds average in Blogabet is pondered (weighted) arithmetic mean, i.e. accounting for the stakes used. If a tipster has just two picks, one with 5.00 odds and 1/10 stake and another with 2.00 odds and 10/10 stakes our formula will take into consideration that the latter pick weights 10 times more/has 10 times bigger stakes. Hence the pondered odds average from those two picks will be 2.27 and not the simple arithmetic 3.50 and making possible for the above formula to be used correctly for estimating the required win rate for breaking even.
Hi. How did you calculate that "average from those two picks will be 2.27" ? Thanks!