Banner Image

Help Us Improv༺e & Earn a £50 Amazon Vou🍒cher! 

Share your feedback and help improve our site! Fill out a quick form for a chance to eไarn a £50 Amazon voucher.

Banner Image

The Kelly Criterion is a method for determining the amount that punters should stake. The formula suggests plac𓂃ing a wager o🥃nly if the true odds vary from the bookie's odds .

KELLY CRITERION CALCULATOR
Odds format:
Decimal
Fractional
American
Current betting balance
Bookmaker odds
Your estimate (%)
Fractional Kelly Betting (FKB)
Bookmaker Estimate (%)
00.00%
Recommended Stake (%)
Recommended Stake - FKB adjusted (%)
00.00%
Recommended Stake - FKB adjusted
00.00
Return on wagered funds
00.00%
Expected value for bet
00.00
Overall potential profit
00.00
RESET

INSTRUCTIONS ON H🐎OW TO USE THE KELLY CRITERION CALCULATOR

CURRENT BALANCE: Insert your current betting balance
BOOKMAKER ODDS: The odds you want to back
YOUR ESTIMATE (%): Your estimated probability of the selection winning
FRACTIONAL KELLY BETTING (FKB): Choose between 0.1 – 1.0. 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. 0.80 –> 80%)
RECOMMENDED STAKE (%): Will give you the recommended stake in %
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 – FKB ADJUSTED: Will give you the recommended stake after adjusting to the ‘Fractional Kelly Betting' value you have assigned to it
RETURN ON WAGERED FUNDS (%): The return on your wagered stake in %
EXPECTED VALUE FOR BET: The expected value you will receive
OVERALL POTENTIAL PROFIT: The overall net profit if bet wins

Should you wish to use the Kelly Criterion Calculator for a new calc💫ulation, simply tap the RESET button in green.

We are giving you two options on how 𒉰to use the Kelly Criterion Calculator. In addition to our automated calculator above, you can also dow🐷nload our excel version below. Take your pick!

Download Kelly Criterion Calculator

Download 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 wheꦚther you want to input your odds 🐻in fractions, decimal or american format) and follow the instructions provided!

Creating your own Kelly Criterion Calculator in Excel is very easy. Just follow these simple steps.

1. Open a new Excel spreadsheet and create these headers:

  • List Icon

    Bankroll (How much is your total Bankroll?)

  • List Icon

    Kelly Staking Fraction (Which percentage of a Full Kelly do you want?)

  • List Icon

    Outcome 1 (Name the outcome)

  • List Icon

    Outcome 2 (Name the outcome)

  • List Icon

    Odds of 1 (The odds offered by bookies)

  • List Icon

    Odds of 2 (The odds offered by bookies)

  • List Icon

    Probability of 1 (How likely do you estimate Outcome 1?)

  • List Icon

    Probability of 2 (How likely do you estimate Outcome 2?)

  • List Icon

    Stake on 1 (How much should you bet on Outcome 1?)

  • List Icon

    Stake on 2 (How much should you bet on Outcome 2?)

Kelly Criterion Calculator in Excel Step 1
Kelly Criterion Calculator in Excel Step 2

2. Enter your bankroll and staking fraction (How much of a full Kelly do you want to bet?)

Kelly Criterion Calculator in Excel Step 3

3. Enter the two possible outcomes for the market in 1 outcome and 2. Also, place the market odds in Odds of 1 and Odds of 2. For this example, we will use the odds from our earlier hypothetical matchup between Real Madrid and Manchester United for the Champions League final. (In this case, there is no draw)

Calculator in Excel Step 4

4. Fill in your own estimated probabilities for each outcome

5. Add formulas to Stake on 1 and Stake on 2

  • List Icon

    Paste this formula in H2

=((((E2*G2)-1)/(E2-1))*A2)*B2

  • List Icon

    Paste this formula in I2

Calculator in Excel Step 5

=((((F2*H2)-1)/(F2-1))*A2)*B2

🅺As you can see, our 50% Half Kelly is exactly half of our earlier ꧒calculation for the Full Kelly.

Calculator in Excel Step 6

6. Let’s see how it works for our Horse Racing example.

As you can see, you only need to put odds in for one side of the outcome. Drag the cross cursor down in I2 to get the same formula for I3.

If you want more great calculators, check out our bet calculators page.

Author Avatar
🍸  WRITTEN BY Matteo Ebejer Vie♉w all posts by Matteo Ebejer

Hi, I'm Matteo, a writer who's passionate about all things sports. The typical weekend for me revolves around being glued to all things football on TV, ruining my Fantasy Premier League team, and getting off my lazy butt for a run.

Further Reading

panalobet07.com © 2006-2024 panalobet07.com