# Kelly Criterion Calculator

Kelly Criterion is also referred to as Kelly strategy, Kelly formula, Kelly staking or Kelly bet. It is a formula used to determine the optimal size of a series of bets in sports or investment. The criterion is most often used in sports gambling and certain investment related scenarios. This online sports betting calculator helps you in calculating optimal stake percentage and the potential profit using the kelly criterion formula.

## Kelly Strategy - Sports Betting Calculator

Code to add this calci to your website

#### Formula:

r = (((o-1)/100) * (100-c)) + 1
f= (1 / t) * 100
v = r / ((1/t) * 100)
s= ((((t / 100) *r) - 1) / (r - 1)) * b
p= ((((t / 100) * r) - 1) / (r - 1)) * 100
w = s * (Real odds - 1)
l = s

**Where,**
r = Odds
f = Fair odds
v = Value
s = Stake
p = Stake Percentage
w = Potential Profit
l = Potential losses
b = Bank Roll
o = Decimal odds
t = Estimated win Probability
c = Commission
The formula was developed by John Larry Kelly. The kelly strategy determines the capital percentage to be used in each bet/trade to maximize long-term growth. Kelly Criterion was most commonly used by gamblers in horse racing. Later the strategy was applied to investing. Decide how much to bet when the odds are in your favor using this online kelly strategy sports betting calculator.