On this page you'll find a Kelly Criterion Bet Calculator. Enter your assumptions on
- Kelly Criterion Sports Betting Rules
- Kelly Criterion Sports Betting
- Kelly Criterion Sports Betting Odds
What is the Kelly criterion staking plan? The Kelly criterion is a staking plan that uses a mathematical formula to seek out opportunities for profitable bets. The basic idea is to find bets where there is a bigger difference between probability and the odds on offer. The Kelly Criterion aims to calculate the optimum stake for any value bet. Basically, the Kelly Criterion will take into account both the size of your advantage, that is the value available. As well as the size of your bankroll with the intention to minimise risk whilst maximizing your advantage. When it comes to betting on sports, things get a.
- Probability of winning
- Odds and payouts
- Your current bankroll
- Any adjustments you want to make to be conservative
We automatically calculate your ideal bet size with the Kelly Criterion and your assumptions.
The Kelly Criterion Bet Calculator
Kelly Criterion Sports Betting Rules
Practical Application of the Kelly Criterion To Betting Strategies
The Kelly Criterion is a formula to determine the proper size of a bet with known odds and a definite payout. Seminole hard rock casino tampa jobs. With hand waving and basic math you can also use it to help guide your investment decisions.
It's most useful to determine the size of a position you should take.
Using the Kelly Calculator
The Kelly Criterion bet calculator above comes pre-filled with the simplest example: a game of coin flipping stacked in your favor.
- The casino is willing to pay 2 to 1 on any bet you make.
- Your odds of winning any one flip are 50/50.
- Therefore, your probability is .5.. 50%.
- Your 'odds offered' are '2 to 1' (so enter 2).
- You have $1,000 with you.
Hit calculate, and see that you should definitely take the bet. Your optimal bet size is 25% of your bankroll.
(Now, find a casino stupid enough to offer those odds!)
Kelly Criterion Sports Betting
Of course, you can see practical the practical value of Kelly betting when it comes to things with discrete results and obvious probabilities - say pot odds in a poker hand. Your mileage may vary.
What do you think about simple Kelly betting? Even though it is designed to never let you go bankrupt, Kelly still allows wild volatility swings.
Kelly Criterion Sports Betting Odds
Do you prefer another strategy? Perhaps half or quarter Kelly methods? Diamond casino slot machine glitch.