Kelly’s Criteria Sport Bet Strategy
All the previous strategies of the financial management don’t depend on what you are betting on. That means they are not universal in use.
Kelly Criteria which is also known on the exchanges as the strategy “geometrically medium bag’s maximization” is the improved strategy that is base on the bank’s percent.
In the case of the Kelly Criteria, the bank’s percent isn’t fixed and depends on the right determine of the credibility of the sport event.
The part of the bank on which you should bet is determine by this formula:
(K* – is your mark on the credibility of the event – 1)/(K-1), where K – is the coefficient on the event.
That means that the size of each stake is counted as the percent of your bank’s left, which in general makes the crash of the bank impossible. But as we have already told, the sum of the stake can be smaller than the minimal stake at the book-makers’.
How To Use Kelly’s Criteria System
The Kelly’s Criteria is used not only in gambling games but also on the exchanges. This method is the only one which has mathematical basic, that’s why it’s used by a lot of gamers. But while using this method two big problems will appear.
At first, you should determine the credibility of the events, because if your credibility mark is higher you’ll lose a lot of money, another side is that if the mark is lower you won’t win the sum you could.
The second point is that there is a sense to bet only on that events overvalued by the book-makers.
That’s because if you determine the credibility of the event as 50% the book-maker’s coefficient should be bigger than two. That means that the multiply of your credibility and the coefficient should be bigger than one.
Finding such coefficients is difficult enough; the first reason is already described profit margin. That’s why a lot of gamers don’t take risk to play with the use of high Kelly Criteria. If you whatever would like to play with this system, you should first of all test your abilities in determine the credibility of the events. Try to play with Kelly criteria on the shit of paper and the pencil first of all. And only after that you can bet on the real money. That is my advice to you.