POT or ROI???

[moeee]

Are these 2 the same thing or are they different?

[moeee]

Another One

When you wish to post the Average Odds , how do you calculate that?
Is it adding up all the Starting Prices of the selections divided by the number of selections , or is it something else like adding up all the winning selections and dividing by the number of winners , or something else again?

[rhino82]

Researching this topic only last week, found this thread

http://www.propun.com.au/racing_forums/printthread.php?t=3702

[moeee]

Just found it 2 minutes before I read your post Rhinoman :)
Thanks though.

[Shaun]

With your second question your second option was correct, add up the prices of all your winners then divide this amount by the total wins.

Lets say i had 20 winners and there combined win prices equaled $80
$80/20 = average price $4.00
Some people will also remove the highest priced and lowest priced winner and divide the total remaining by 18 this would only need to be done if you had 1 large priced winner.

I think there is a formula for taking in to account the high and lower prices but i can't remember where i seen it.

[rhino82]

....
I think there is a formula for taking in to account the high and lower prices but i can't remember where i seen it.
So this should be factored in? If so, why? thanks

[moeee]

So this should be factored in? If so, why? thanks
Is prolly a standard deviation sort of thing to allow for Wild outliers should there be any.

[Shaun]

Say you have a series of 10 wins from 30 races and 9 of the wins are priced at $2.50 but the tenth win is priced at $15

9 x $2.50 = $22.50
1 x $15 - $15
Total $37.50 /10 = average $3.75

If you used this average as a long term idea that you system could stay in profit you would be in trouble because you are relying on your system that produced a profit from one good return.

[rhino82]

Understand Shaun, but then how do you work out your more realistic average odds, ignore that entry altogether? & how do you decide on what is a more than above average return, especially if you have a few of them over a reasonable period?

[moeee]

Once you have a significant amount of selections , then the impact of the top and bottom Odds has much less impact.
I don't know if the Average Winning Odds is as important as the POT and Strike Rate.

[Shaun]

That's where the formula that i seen comes in to it, this takes account of these types of prices.

[Rogan Josh]

I think there is a formula for taking in to account the high and lower prices but i can't remember where i seen it.
Hi all, Sounds like you need a weighted average formula where highs & lows will be less significant on the final result. The further away from the initial average, the less significant these values would be.