# Simple Kelly Calculator

The Kelly formula or Kelly Criterion as it's often known is a mathematical formula for working out the optimum amount of money to stake on a bet to maximise the growth of your funds. You can read more about how it works in this Kelly Criterion Wikipedia article.

Usually, the bigger your edge on the odds the more you should bet but Kelly also takes into account the real chance of that bet winning and Kelly would advise a smaller bet for a 5% edge at even money (2.0) than a 5% edge at 1/3 (1.33).

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The actual formula for Kelly Staking is below:

((odds-1) * (percentage estimate))  -  (1-percent estimate)     /    (odds-1)         X        100

*Your percentage estimate must be expressed as a decimal e.g. 70% will be 0.7

E.g. - Odds of 1.58 with estimated 70% chance

= ((0.58*0.7 – (1-0.7))  /   0.58)    x  100

= (0.106/0.58)   x   100

=18.28%

## Bulletin Board

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## Table for Horse Racing in September

Name W/L Profit £
1 AndyHolding   0/1 -10.00
2 Dynamite21   9/13 -27.50
3 BetSharp   0/10 -100.00
4 TipOfTheDay   0/15 -150.00
5 On The Nose   0/85 -850.00
The stake for each tip is 10 units

## Table for Non-Racing in September

Name W/L Profit £
1 Bet Monkey   1/3 +3.00
The stake for each tip is 10 units

## Betfair - For bigGER profits

An account with Betfair is a must have.

The big profits from our tips largely come from horses over 10/1 and betfair exchange have significantly better prices on those selections.

We have had success requesting slighty bigger prices than those tipped and usually get matched very easily.

Liquidity can be a problem at times but
they also have their sportsbook odds which are up there with the best in terms of
bookie odds.