Betting return

[CheckMark]

I know this is a stupid question to ask from a 16 year old handicapper but how do I calculate my returns. I did some plays yesterday and bet $40. I got back $61.85 off my $5 wagers (8 total) and I was wondering is my profit $51.85 or $21.85. I think is $21.85 but asking you guys if that is right.

[horses4courses]

Originally Posted by CheckMark

I know this is a stupid question to ask from a 16 year old handicapper but how do I calculate my returns. I did some plays yesterday and bet $40. I got back $61.85 off my $5 wagers (8 total) and I was wondering is my profit $51.85 or $21.85. I think is $21.85 but asking you guys if that is right.

You're correct about $21.85 as your profit.
Easiest way to calculate ROI on a $40 outlay would be to multiply profit by 2.5.
That would convert to ROI just under 55%.
Nice job!

[CheckMark]

Originally Posted by horses4courses

You're correct about $21.85 as your profit.
Easiest way to calculate ROI on a $40 outlay would be to multiply profit by 2.5.
That would convert to ROI just under 55%.
Nice job!

And can I do that for anything else like for example i did bet $50 and got back
$75.00, do i still do 2.5 or what? Thanks for the reply

[JerryBoyle]

Originally Posted by CheckMark

And can I do that for anything else like for example i did bet $50 and got back
$75.00, do i still do 2.5 or what? Thanks for the reply

Your net winnings or profit will be total returns (everything you got back) - total outlay (everything you bet). So 75 - 50 = $25 Net winnings or profit.

Return on money wagered is Net winnings / Total outlay. In the above example, 25/75 = .33

[CheckMark]

Originally Posted by JerryBoyle

Your net winnings or profit will be total returns (everything you got back) - total outlay (everything you bet). So 75 - 50 = $25 Net winnings or profit.

Return on money wagered is Net winnings / Total outlay. In the above example, 25/75 = .33

Thanks it makes sense!

[Longshot6977]

Originally Posted by CheckMark

Thanks it makes sense!

That doesn't make any sense to me. The ROI is 50% in the last example, not 33%.
You bet $50 and got back $75. That's $25 profit. $25 divided by your $50 bet is 50% ROI.

It is figured the same way as your original post. $21.85 profit divided by the $40 bet = 55% ROI

[JerryBoyle]

Originally Posted by Longshot6977

That doesn't make any sense to me. The ROI is 50% in the last example, not 33%.
You bet $50 and got back $75. That's $25 profit. $25 divided by your $50 bet is 50% ROI.

It is figured the same way as your original post. $21.85 profit divided by the $40 bet = 55% ROI

Yep, sorry that is a typo. Formula is valid though - Net winnings / Total outlay