Magic find is a very useful stat to increase. It allows you to improve drop odds by a lot, with only 100 magic find you can double the odds for a rare item to drop, for example, someone with 100 magic find would have their odds for an Overflux improved to 1/1300 from 1/2600.
Improving Magic Find
There are a total of 15 ways of improving Magic Find. Here are all of them:
God pots/ magic find pots and critical pots with the magic find thing
This is fairly obvious. You can increase almost any stat with potions. If you are not using God Potions, you can maximise Magic Find with a Magic Find 4 potion and Critical potion with a Slayer Energy drink.
Renowned reforge ability
The renowned reforge boosts every stat, including Magic Find, by 1%, per renowned armour piece.
Superior Dragon Armour set bonus
This boosts all stats by 5%, stacking with the Renowned ability.
Magic find enrichment
This is quite self explanatory. Enrichments can only be applied to legendary and mythic talismans.
Pet score
This increases your magic find by up to 7. It is based off of the number of pets you have, their rarities and possibly their levels.
Community Centre upgrades
With the community centre, it is possible to boost Magic Find by up to 5. It does take a while to do, however, unless you skip the upgrade time with gems.
Pets (black cat or griffin, or megalodon if you're a psychopath)
There are 4 different pets which boost Magic Find:
Black Cat pet - boosts Magic Find by 15 at level 100 (ability)
Ender Dragon pet - Increases all stats by 10%, including Magic Find (ability)
Megalodon - boosts Magic Find by 10 at Level 100.
Griffin pet - boosts Magic Find by 10 at Level 100. It also gives other stats, making it the best Magic Find pet overall
Lucky Clover Pet item
This is fairly self explanatory too. The lucky clover, when on a pet, boosts magic find by 7.
Daedalus Axe (with a magic find pet)
The Daedalus axe, when used with a magic find pet, or a pet with a Lucky clover, boosts magic find, due to the axe's ability. It is best to use a griffin pet with this.
Chimera Enchantment (with a magic find pet)
This enchantment acts similar to the Daedalus axe ability, copying pet stats. When used with a magic find pet, or a pet with a Lucky clover, it boosts magic find. Like with the axe, it is best to use a griffin.
Booster Cookies
When used, a booster cookie boosts Magic find by 20. It also causes you to not lose potion effects when dying, which can be useful if you're using potions.
Aatrox's rare drop chance boost buff
This massively boosts magic find, however it is only in effect when Aatrox is the mayor (with this ability), and it only applies to rare drops from Slayer bosses.
Legion Enchantment
This enchantment boosts all stats, including magic find, by a certain percentage per person nearby you, maxing out at 20 players. It stacks with both the Superior armour ability and Renowned bonus.
Crown of Greed
The Crown of Greed gives 4 magic find. It is very expensive, however, so likely isn't worth it, as you can get higher magic find with Superior dragon armour.
Crab Hat of Celebration
The Crab Hat of Celebration is a Hatcessory (talisman) which boosts your magic find by 1 when it is either on your head or in your accessory bag.
Weekend Bonus
This is an event which was intended to only last 2 days, and began a few months ago. It boosts magic find by 10, and only continues to be in effect because the admins forgot to, and then decided not to remove it.
Working out drop chance is relatively simple, as there is an easy equation for it.
C=d × (1+m + l × 0.05)
d = Drop chance, calculated by dividing the drop chance (in percentage) by 100
m = Magic Find bonus, calculated by dividing your magic find stat by 100
l = the level of the Luck enchantment on your weapon
C = the drop chance of the item for you
ExampleFor an example, I will be using the Overflux Capacitor from Sven Packmaster T5 bosses, along with my personal stats.
d - The drop chance for the Overflux is 1/2600, or 0.0003846154 (for this, I will be rounding up to 0.0004)
m - My magic find is 143, meaning my magic find bonus is 1.43
l - The weapon I will be using has Luck 6
Now, we need to substitute in the values to the equation:
0.0004 × (1+1.43+6 × 0.05)
6 × 0.05 = 0.3
1+1.43+0.3 = 2.46
0.0004 × 2.46 = 0.000984
If you want to turn this into a Percentage, you should multiply the resulting value by 100
100 × (d × (1+m+l × 0.05))=C%
This means my chance of dropping an Overflux Capacitor from a Sven Packmaster (T4) is 0.0984%, or about 1/1000
The actual value is slightly different due to me rounding from 0.000384... to 0.4, meaning my actual drop chance is 0.105%
Here is a link to a graphing calculator I have created, allowing you to easily work out your drop chances for an item just by changing a few variables:
https://www.desmos.com/calculator/m9pqerm9zw