This article builds on a recent paper coauthored by the present author, H. Hosni and F. Montagna. It is meant to contribute to the logical foundations of probability theory on many-valued events and, specifically, to a deeper understanding of the notion of strict coherence. In particular, we will make use of geometrical, measure-theoretical and logical methods to provide three characterizations of strict coherence on formulas of infinite-valued Łukasiewicz logic.