10/27/2022 0 Comments Horse wager calculator![]() ![]() That way, we can do the math and see exactly how much you would wager in this scenario. ![]() So let’s add a bit of simplicity and say that your bankroll is $1,000. While it’s not the simplest situation, it’s one of the most likely scenarios when utilizing this betting strategy. Let’s take the basic case of -110 odds and a winning percentage of 55% with 0.5 Kelly multiplier, which is also known as a half Kelly. ((Decimal Odds – 1) * Decimal Winning Percentage – (1 – Winning Percentage)) / (Decimal Odds – 1) * Kelly Multiplier Kelly Criterion Example This long but easy formula is how the Kelly Calculator creates its results: (100 divided by odds) + 1 Step 2: Use The Kelly Criterion Formula To convert negative odds, the equation is: To convert positive odds, the equation is: The easiest way to convert American odds to Decimal would be to use the Odds Calculator. While you can simply enter the information into the Gaming Today online Kelly Calculator, it can be helpful to know how the math works. Looking for other calculators to use when sports betting? Check out:įutures Calculator How The Kelly Criterion Calculator Math Works So approach this knowing that you can never assure that you’ll make a profit.īut if you are a strict -110 bettor, then, over time, Kelly Criterion can help give you the ideal betting outcome. And if it’s not accurate, the volatility in your betting will evaporate your bankroll. In sports betting, as with investing, your personal win percentage at different odds is virtually impossible to get accurate. There is a huge drawback that you must understand and be aware of before using Kelly Criterion in your betting. This means a much less aggressive potential growth while keeping the volatility down by a significantly lower margin. Most bettors apply a factor to the Kelly calculator (the Kelly multiplier) to take advantage of the theory’s betting advice while limiting risk. While the calculator is automatically set at 1, we recommend adjusting it to no more than 0.5 for long-term betting. Basically, this is how much of the Kelly Calculator recommended amount you want to wager. You also need to decide the Kelly Multiplier you’re going to use. But if it’s higher than 50%, you want to be realistic when you’re betting on odds longer than -110. If your win percentage is already 45% or lower, then just use that. Instead, you want to be as conservative as possible. If you put that much into a single bet, you risk losing an enormous amount of your bankroll. Good for you! But if you put that 55% in the Kelly calculator on a +150 dog, Kelly will advise you a ridiculous 25% of your bankroll because it is looking to maximize your profit. Imagine that you are a 55% winning sports bettor at -110 odds. If you put in your overall winning percentage, you are in trouble. You need the winning percentage of the specific odds you are betting on. Unfortunately, this is where some go wrong. The odds, of course, but then you also need your winning percentage. To use the Kelly Calculator for sports betting, you need a few pieces of information. #HORSE WAGER CALCULATOR HOW TO#How To Use A Kelly Criterion Calculator To Place A Sports Bet If your win percentage is lower than 53% on -110 wagers but you still want to use the Kelly Criterion, you’ll need to look for bets with longer odds (or bets that you think would have a higher win percentage). But if you’re exclusively a -110 bettor, the minimum win percentage is 53% for the Kelly Calculator to recommend betting any amount. You’ll also want a good idea of your win percentage. Once that time has elapsed, you can see your profit percentage, then adjust your Kelly Criterion approach accordingly. A timeframe is important because the goal of the Kelly Calculator is to profit over a given period. ![]() The easiest is to say you’ll be using the Kelly Criterion for one year or the length of a sports season. So you first need to decide your bankroll size and the length of time you’ll be using the Kelly method. Reset What Is A Kelly Criterion Calculator?Ī Kelly Criterion Calculator helps you decide what percentage of your bankroll you should wager on a sports bet. ![]()
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