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# KELLY CRITERION DEFINITION

## What is the 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 where:

b = the decimal odds

p = the probability of winning

q = the probability of losing (1-p)

F = how much of your bankroll to bet

To learn more and let us do all the calculations for you, try out our Kelly Criterion Calculator.