Kelly Criterion Sports Betting – The Most Useful Tool For Professional Sports Bettors

Kelly Criterion Sports Betting – The Most Useful Tool For Professional Sports Bettors

The Kelly Criterion is a simple and easy mathematical formula that can be used to determine the ideal level of stake to be used in any particular bet by working out the expected level of return you can acquire from the bet and then applying this to the bettor’s betting bank.

The Kelly Criterion does feature an element of complication. Although the concept may sound fairly straightforward, you need to be able to calculate the chances of any particular bet being successful. This is because one of the main effects of the Kelly Criterion is the greater the expected possibility of the win, the higher the level of stake, which in turn leads to maximizing your return.

What is the Kelly criterion? “In probability theory and intertemporal portfolio choice, the Kelly criterion, also known as the scientific gambling method, is an optimal bet selection based on the perceived edge of a given event. But how does it work? Stay tuned