What a frustrating day, dutching these i made a large loss but at level stakes just above break even.



Result 2/11
SR 18.18%
Outlay 22
Return 22.14
Profit 0.14

Bordertown		Race	5
6. Little Adam		$4.15
7. Back Tracks		$4.54
Cranbourne		Race	6
13. Torrefy		$2.94
4. Tully Dreamer	$6.72
Hamilton		Race	7
11. Annie's A Gem	$4.56
6. Our Aristocrat	$4.70
Pinjarra		Race	8
3. Speccio		$3.59
14. Wolfe Dreams	$4.06
Sunshine Coast		Race	7
9. Craiglea Blondie	$3.08
7. Irishkiwi		$4.99
Wagga			Race	4
1. Happy Finish		$3.82
4. Tarrabandra		$4.17
Wagga			Race	6
1. Universal Pack	$4.65
11. Rocky Cod		$5.33

The way things have gone so far a double protest by both my horses will get dismissed.

Shaun, hope you don't mind me commenting on your thread, but it is meant to be constructive criticism, and I hope you take it that way.

A horse's strike rate is the number of times he wins as against the number of times he races, expressed as a percentage, so if a horse wins 8 times from 24 starts his strike rate is 33.3%.

A punter's strike rate is no different, except that his strike rate is the number of times he wins compared to the number of bets he has. In your case, according to your posts you (would) have had 18 winners from 98 bets for a (gross) return of $89.73 which translates to;

Strike Rate of 18.36%
Average price of winners $4.99

So lets say on 100 bets, your situation would be....

Outlay $100
Return 19 (should be 18, but I'm being generous) x $4.99 = $94.81 for a loss of $5.19 or a little over 5%. (Mind you, most mug punters would be overjoyed if they only lost 5%.)

What you have to do then is either increase your strike rate (per bet!) or get longer priced winners. Easier said than done, but if you continue to delude yourself that your strike rate is twice what it is in reality, you're kidding yourself.

Also, what is your understanding of Kelly Staking? Mine is that if you're not making a profit at level stakes, the Kelly can't help you, but what it does do if you are showing a profit on level stakes is calculate what percentage of your bank you should bet to maximise profits.

Anyone else care to comment?

Gerry