kelly calculator for sports betting american odds

Note that because this is the “true” Kelly multiplier, the n-Kelly stake will not necessarily be n×full Kelly stake. The true Kelly multiplier such that 1 implies full Kelly, 0.5 implies half Kelly, 0 implies total risk aversion, and 8 implies total risk neutrality. (For example, if the user expects that every Sunday he’ll have 5 betting opportunities and wanted to determine bankroll expectations over the course of a 17-week NFL season, he’d set “# Independent Events” to 5 and “Consecutive Series” to 17). This is included in order to determine expected and median bankrolls over multiple trials. The number of times that this set of bets is to be sequentially repeated. The number of either simultaneous independent events or mutually exclusive outcomes.

Just follow these simple steps.ġ.Either simultaneous independent events (as in several distinct games) or mutually exclusive outcomes (as in a single event that can have one of several winners, e.g., a horse race or the American Idol competition). Take your pick! Download Kelly Criterion Calculatorĭownload our free and easy-to-use Kelly Criterion Calculator by downloading this excel file! All you need to do is choose which column you want to use (depending whether you want to input your odds in fractions, decimal or american format) and follow the instructions provided! How to create your own Kelly Criterion Calculator in ExcelĬreating your own Kelly Criterion Calculator in Excel is very easy. In addition to our automated calculator above, you can also download our excel version below. We are giving you two options on how to use the Kelly Criterion Calculator. Should you wish to use the Kelly Criterion Calculator for a new calculation, simply tap the RESET button in green. OVERALL POTENTIAL PROFIT: The overall net profit if bet wins RETURN ON WAGERED FUNDS (%): The return on your wagered stake in %ĮXPECTED VALUE FOR BET: The expected value you will receive RECOMMENDED STAKE – FKB ADJUSTED: Will give you the recommended stake after adjusting to the ‘Fractional Kelly Betting' value you have assigned to it RECOMMENDED STAKE (%) – FKB ADJUSTED: Will give you the recommended stake in % after adjusting to the ‘Fractional Kelly Betting' value you have assigned to it RECOMMENDED STAKE (%): Will give you the recommended stake in %

The standard kelly betting is 1.0 (100%), but if you do not want to wager the full recommended amount, you can insert a fraction representing a percentage (e.g. YOUR ESTIMATE (%): Your estimated probability of the selection winningįRACTIONAL KELLY BETTING (FKB): Choose between 0.1 – 1.0.

CURRENT BALANCE: Insert your current betting balanceīOOKMAKER ODDS: The odds you want to back

Kelly calculator for sports betting american odds