if you are getting 50% strike rate you need only to average slightly better than evens to show a profit.

Each way betting is not a good proposition overall; for instance each way @ 4/1 returns only 5/2 for a win. To explain:

$1 e/w on a 4/1 winner returns $7, comprising $5 ( 4 + 1 ) for the win, and $2 ( 1 + 1 ) for the place, or a profit of $5 on your $2 outlay, or 5/2.

Gerry