The Kelly Criterion in sport betting

[Sike_lottery]

Kelly criterion is a more advanced staking plan that takes into account both the odds of a bet and the edge that a bettor has over the bookmaker. It is based on the idea that a bettor should bet a percentage of their bankroll that is proportional to the edge they have over the bookmaker. The Kelly criterion formula is: (edge / odds) x bankroll. The result of this formula is the percentage of the bankroll that should be bet on a particular wager.

 

[Julio88]

Kelly criterion is a more advanced staking plan that takes into account both the odds of a bet and the edge that a bettor has over the bookmaker. It is based on the idea that a bettor should bet a percentage of their bankroll that is proportional to the edge they have over the bookmaker. The Kelly criterion formula is: (edge / odds) x bankroll. The result of this formula is the percentage of the bankroll that should be bet on a particular wager.

The Kelly criterion is a very interesting betting strategy that is formulaic in nature and helps gamblers to gauge how the house edge and the bankroll will affect their chance of winning whilst staking a bet