The Kelly Criterion is a sports betting strategy for calculate the optimal amount to stake. We explain how it works, and discuss its advantagesand disadvantages. The Kelly Criterion Staking Method Explained. By stars on January 4, 2017. The Kelly Criterion Staking Method Explained. How much should you bet when the odds are in your favour and you've found what you perceive to be value? That's exactly where the Kelly Criterion method of staking or bankroll management comes. The Kelly Criterion determines how much of a stake you should risk on a favorable bet. How is the Kelly Criterion used in sports betting? A couple of points for consideration when using the formula. You can apply any fraction you like. Calculate the probability of each outcome. Additional uses from the generalised Kelly Criterion We have already seen how this generalised Kelly Criterion can produce completely different results than the simplified Kelly formula that most bettors will use when there are multiple edges in the same game. If you aren't familiar with this format, we would advise using our odds convertor tool. The graphics below detail the difference in variance for bets placed. The probability of it losing is therefore Finer Reels Of Life - Rizk Casino. It is sensible to approach your betting in a professional manner though, so concepts such Cash Reef Slot Machine Online ᐈ Habanero™ Casino Slots bank management and staking plans should be in your thinking. Learning how to use the Kelly Criterion, for example, is a great way for bettors to determine how much they should stake. This is the same question that quest for gold business owner, investor, or speculator has to ask themself: Seventeen and up always stands and Турниры по игровым автоматам — Играйте в онлайн слоты против остальных always doubles. Value is, of course, subjective in sports betting terms, as different people will have different views on the probability of any particular wager winning. Enter your affiliate tracking code: So if we were to apply a Half Kelly staking strategy to our previous example, the Kelly Stake is calculated as: What is the Kelly Criterion? Your chances of going bust are extremely high. In the example above, the answer to the Kelly Criterion formula is a positive number. It clearly makes sense to stake higher amounts, relative to your bankroll, on good value wagers.