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calculate the difference between odds

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    calculate the difference between odds

    could you please help me with the following problem.
    i am trying to calculate an adjusted expected ROI of a tipster.
    so lets say this tipster has 10% ROI but you cannot reach this as odds are sometimes worse then advised.
    example:
    lets say a tipster advised to bet on team x with odds 2.38 but you cannot place your bet at this price, instead you can place it at 2.26.
    can you just calculate it like this?
    (2.26-2.38)/(2.38-1)= -8.7%
    or do i need to calculate the difference between the implied winning chance?
    or none of the above?

    thanks for helping a rookie

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