Kelly Criterion Calculator
Kelly Calculator Info
The Kelly Criterion is a mathematical formula used to determine the optimal fraction of a bankroll to wager on a bet, with the goal of maximizing long-term wealth growth. Since the true probability of a wagering event is usually a best estimate, full kelly (1.0) is not likely a good idea. Quarter kelly (0.25) might be advised.
- Probability
- The probability the bet wins.
- Odds
- The odds of the bet.
- Kelly Multiplier
- The fraction of the Kelly calculation to wager, [0.0, 1.0].
- Bankroll
- Total supply of money allocated to wagering.
- Odds Format
- Specifies the format used in odds fields.
Math
- f
- The fraction of your bankroll to bet.
- edge
- The edge as a decimal.
- odds
- The net fractional odds of the bet.
- b
- The net fractional odds of the bet.
- p
- The probability the bet wins.
- q
- The probability the bet loses.
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