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Welcome to the Kelly Criterion calculator. We have built all the tools you need to make your sports betting (and specifically your knowledge of the Kelly Criterion) better! Below we have a Kelly Criterion calculator and some more information on the Kelly Criterion in general.
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Based on the Kelly criterion, it is recommended that you bet approximately 1.18% of your account balance on this particular selection.
When applying the fractional Kelly value of 0.91, it adjusts to a bet of approximately 14.16% of your bankroll.
If your account balance is $1,000, following the Kelly criterion's recommendation would mean placing a bet of $11.76.
Assuming a bet of $11.76, the expected value of this would be $21.78, calculated as $11.76 multiplied by $11.76*[(0.68)(0.60) + (-1)(0.4)]. This translates to a return of 0.80% on the funds wagered.
The Kelly criterion returned a value of -0.0061.
After applying the fractional Kelly value of 0.0, this adjusts to -0.0061 of your account balance.
Because this number is below 0 you should not back the selection at the available odds.
What is the Kelly Criterion?
The Kelly Criterion is a method by which you can used your assessed probability of an event occurring in conjunction with the odds for the event and your bankroll, to work out how much to wager on the event to maximise your value. By inputting the odds, the probability of the event occurring and your betting balance, you will be able to determine the amount you should wager on the event. The fractional Kelly betting input is a way to change how aggressive or conservative you are with your wagering (1 being the standard and moving towards 0 the more conservative you wish to be with your wagering). Ultimately, the Kelly Criterion calculator, if you are accurate with your assessed probability should increase your value and profit over a long-term period.