Another note or debate on the side of this topic is in relation to confidence levels.

If you have a system with 50 selections and you manage to get 30 winners (60% SR) with an average return of $3.00 you have a profit of $40.00

Now using any interval calculator http://www.surveysystem.com/sscalc.htm you have an interval of 17.87. Meaning the Strike rate can range from 42.13% to 77.87% with a 99% confidence.

Based on this, at worst you have 42.13% strike rate @ $3.00 average winner is still a 26.39% profit.

Is this logical in racing terms?