The Kelly Criterion is a mathematical formula used to determine the optimal size of a series of bets to maximize long-term growth of your bankroll. It considers both the odds offered and your estimated probability of winning to calculate the ideal stake size as a percentage of your current bankroll.
This formula helps bettors avoid betting too much (which risks significant losses) or too little (which limits potential gains). The Kelly Criterion is particularly useful for professional bettors and those serious about long-term profitability in sports betting.
How to Use This Calculator:
Enter the american odds offered by the bookmaker
Input your estimated probability of winning (as a percentage)
Enter your current bankroll size
The calculator will show your optimal bet size and other relevant information
Benefits of Using Kelly Criterion
Optimal bankroll growth over time
Systematic approach to bet sizing
Protection against excessive losses
Mathematical foundation for betting decisions
Important Considerations
The Kelly Criterion assumes accurate probability estimates
Many professional bettors use "Fractional Kelly" (25-50% of the suggested bet) for safety
Results are highly sensitive to probability estimates
Best used as part of a comprehensive betting strategy
Note: The Kelly Criterion is a tool for guidance. Consider using a fractional Kelly approach (betting a fraction of the recommended amount) to reduce variance and risk.