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.