Simultaneous Events Kelly Calculator
What is a Simultaneous Events Kelly Calculator?
The simultaneous events Kelly calculator is a tool that punters can use to calculate how much they should increase their bankroll by betting on a series of events, using the Kelly criterion formula. You will have to fill in the required data and it will tell you your expected profit, expected growth of bankroll, expected bankroll amount and your median bankroll.
The tool can be used for basically all types of betting and can be customized in several different ways, so it will show you the data that you want to see and not unnecessary things. The Kelly criterion is a well known formula to determine the optimal betting size that you should do, based on your expected winnings and the net winnings you would get. It is used by many of the best punters as it works great with a good bankroll management strategy and can help you optimize your profits in the long run. The Kelly formula can also be applied to other investment based industries, but the Kelly calculator is only for sports betting.
How Do I Use It?
Using the Simultaneous Events Kelly Calculator is quite simple as the calculator always will have a detailed description on the site when you use it. You will have to choose between different options and insert different numbers as well in order for the calculator to calculate your result. Let's have a look at some of the things you have to choose between and insert:
- Independent Events or Exclusive Outcomes
- Number of Events or Outcomes (1-15)
- Consecutive Series
- The Kelly Multiplier (0-8)
- Starting Bankroll
- Choose Between US or Decimal Odds
- Insert the Odds
- Edge or Win Probability
- Insert your Edge or Win Probability
Once you have filled in all of the fields with the numbers you believe are correct as well as changed the settings to what you need, you simply press the calculate Kelly button and the calculator will give you your answers to maximizing expected growth.
It is a very simple tool to use for people familiar with the Kelly formula and can help you optimize your profits both short and long term. However for punters that are not familiar with the Kelly formula, we recommend that you read into the formula and understand exactly how to use it before you start using such a tool, as the numbers it provides for you will not make a lot of sense otherwise.