What is Kelly Criterion?
The Kelly Criterion was developed by scientific researcher J.L. Kelly in 1956, and has become one of the world’s most well-known betting strategies. It is a method used to maximise the potential return of any particular bet or investment, and can be applied to any form of sports betting. Put simply, the equation is (bp – q) / b = f.
b = the decimal odds
p = the probability of winning
q = the probability of losing (1-p)
f = how much of your bankroll to bet