The Kelly Criterion is a formula that helps you calculate how much you should bet. It recommends that you should only bet if there is a difference between the true odds (your estimated odds) and the given odds (the bookie’s odds).
INSTRUCTIONS ON HOW TO USE THE KELLY CRITERION CALCULATOR
CURRENT BALANCE: Insert your current betting balance
BOOKMAKER ODDS: The odds you want to back
YOUR ESTIMATE (%): Your estimated probability of the selection winning
FRACTIONAL KELLY BETTING (FKB): Choose between 0.1 – 1.0. The standard kelly betting is 1.0 (100%), but if you do not want to wager the full recommended amount, you can insert a fraction representing a percentage (e.g. 0.80 –> 80%)
RECOMMENDED STAKE (%): Will give you the recommended stake in %
RECOMMENDED STAKE (%) – FKB ADJUSTED: Will give you the recommended stake in % after adjusting to the ‘Fractional Kelly Betting' value you have assigned to it
RECOMMENDED STAKE – FKB ADJUSTED: Will give you the recommended stake after adjusting to the ‘Fractional Kelly Betting' value you have assigned to it
RETURN ON WAGERED FUNDS (%): The return on your wagered stake in %
EXPECTED VALUE FOR BET: The expected value you will receive
OVERALL POTENTIAL PROFIT: The overall net profit if bet wins
Should you wish to use the Kelly Criterion Calculator for a new calculation, simply tap the RESET button in green.
Don't miss our full guide to Kelly Criterion betting. Alternatively, if you want more great calculators, check out our bet calculators page.
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