chi test - skewed by extreme odds?

[algorithmbetting]

this is a question to those who know this stat. It strikes me that calculating the expected number of winning/losing bets is unduly influenced by extreme odds. eg if i have made 100 bets at average fair odds of 2.00 i expect 50 wins/losses. but if i just add 1 further bet at fair odds of 100 i get average fair odds of 2.97 for 101 bets ([2*100]+[1*100])/[100+1]. and therefore expected wins of roughly 34 (101/2.97) and 67. how do you adjust for this apparent bias? multiply by stakes to get a risk adjusted weighted average method? has anyone considered this before?

[muppet77]

Re: chi test - skewed by extreme odds? when you work out average odds use PERCENTAGES rather than prices. loads of people do this! so your calculation is ((0.5*100)+(0.01*1))/(100+1) =

0.495149

(6dp) or 1/0.495149 is the equivalent of a price of

2.019596