35 = 0. Home. Use this request for proposal (RFP) with a current supplier or new vendor. . Download PDF Download PDF with Cover Download XML Download Epub. Put the popular Kelly Criterion to the test with real examples of. Over the years we've done stuff like Dutching, hedging, Kelly Criterion, max-consecutive losses, and other formulas,. The Kelly Criterion is a money-management formula that calculates the optimal amount you should bet when there’s a difference between the true odds and the given odds. Still, this simulation provides insight into how the Kelly Criterion might perform when used on the stock market. 75 in addition to your stake. C. In the Data Table dialog, click in the Column Input Cell edit box; click on any empty cell outside of the area of your table; and then choose OK. Feel free to download the model using this link: Kelly Criterion Capital Allocator. Choose Data, Data Tools, What-If Analysis, Data Table. The Kelly Criterion is employed by many sharp players to advantage bet vs. The formula was developed by Kelly while working at the AT&T Bell. 00. to the point. While it does not assign value to risk, simple. Presentation Transcript. Applying the formula to forex trading looks like this: Position size % = Winning trade % - ( (1- Winning trade %) / Risk-reward ratio ) 4 The Kelly Criterion 4. Managing Risk With Math. the market, lazy man’s gambling at its finest. Assume a gambler tosses a biased coin so that the probability p to get a tail is known and larger than 0. The Kelly Criterion is a formula used to bet a preset fraction of an account. 16 of the Excel Betting Tracker has been released. Asymptotic Optimality and Asymptotic Equipartition Properties of Log-Optimum Investment. The Kelly Criterion 2. The Kelly Criterion in Applied Portfolio Selection – Part 2. The Kelly criterion is a well-known strategy for sizing bets to maximize long-run expected log wealth. Interesting, if you’ll note, is that if a user were to win $40,000, the bankroll would then draw down to $3,960,000, making the new highest bet only $39,600. The odds in the bet multiply for every additional leg you add to the accumulator. It is possible. ,Open a new Excel spreadsheet and create the following headers: Betting Bankroll, Kelly Staking Fraction, 1 (outcome 1), 2 (outcome 2), Odds 1, Odds 2,. a. Developed by John Kelly, who worked at Bell labs, the Kelly Formula was created to help calculate the optimal fraction of capital to allocate on a favorable bet. Download full-text PDF. Kelly’ Criterion has an interesting background. In this article I. Kelly Criteria was developed in 1956 by John L. g. Excel spreadsheets can help in the evaluation of stock prices. PayPal accepts major credit cards. Kelly Criterion Staking Method Explained What is the Kelly Criterion formula? The basic Kelly Criterion formula is: (bp-q)/b B = the Decimal odds -1 P = the probability of success Q = the probability of failure. The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. Mode 1: You know the true probability of an outcome and the soft bookmaker odds. See full list on dummies. Unlike our standard Excel betting tracker, this worksheet calculates recommended stakes using four different staking plans: level stakes, percentage stakes, square root stakes and the Kelly criterion. If a fully Kelly stake was 8%, then the half-, quarter- and eighth-Kelly stakes would be 4%, 2% and 1% respectively. Calculate your probability of winning W. The criterion helps: investors optimize portfolio. What is the Kelly Criterion? The Kelly criterion is a simple formula that calculates the proportion of your balance to wager on a particular gamble. Suppose player A wins b units for eve1Y unit wager. 1, 2. From the top of the page, select Services and subscriptions and on that page find the Microsoft 365 product you want to install and select Install. Extending Kelly a bit further (like Ed Thorp, author of two math bibles for the investor/bettor Beat the Dealer and Beat the Market, has done) we can do a bit of hand-waving and make it work for the stock market. Thus the Kelly leverage says that for a 100,000 USD portfolio we should borrow an additional 401,000 USD to have a total portfolio value of 501,000 USD. We briefly introduce the Kelly criterion. 00. Downloadable (with restrictions)! We develop a general framework for applying the Kelly criterion to the stock market. " Kelly Criterion for Optimal Credit Allocation ," JRFM, MDPI, vol. * W = Historical winning percentage of a trading system. This post provides a simple derivation of the Kelly criterion, which will hopefully provide additional insight. It was designed to maximize the growth of your bank-roll over the long term, by determining the optimal stake on a bet. Calculate the profit and loss distribution of the set of option portfolios, such as the Bull Spread or. . 62 Using this model you win nearly the same amount as kelly criterion. The formula has a number of applications, one of which is sports betting. To start the download, click the Download button and then do one of the following, or select another language from Change Language and then click Change. Il segreto del criterio Kelly è una formula che può sembrare complessa e dal difficile: (Q x P-1) / (Q-1); Q sta per quota e P sta per probabilità. The Kelly Criterion What is Kelly's Formula. kelly criterion excel; multi kelly calculator excel;Excel is an extremely powerful program that can be used for various betting related situations and none more so than calculating the Kelly criterion. Works best when used in retrospect. It helps calculate the optimal amount one should place on a bet or an investment. It emerged from statistical work done by John Kelly at Bell Laboratories in the 1950s. To use the kelly criterion reasonably in trading you will need to follow these steps: Access at least one sample of one hundred trades you have executed. This framework allows us to incorporate mean logarithmic return in problems like maximize mean logarithmic return subject to a risk constraint, maximize risk adjusted logarithmic return. The Annals of. 5% and Ralph Vince Optimal f = 0. 00Make your sports betting experience easier with our Kelly Criterion calculator, learn about the Kelly Criterion and how much you should wager to maximise your profits! Get Our. The Kelly Criterion; Other Topics. The Kelly criterion is an excellent tool for assessing the qualitative shape of risk versus reward and understanding the boundaries of rational bets. In its simplest possible form, the Kelly Criterion states that, on an even money bet, the percentage of the bankroll to bet is: (Win probability x 2) - 1. The formula was derived by J. It is widely applied to sports betting and casino gambling. 5. It doesn’t take asymmetric utility into account. I assume that with multiple bets at zero correlation placed simultaneously that I would bet the full Kelly per bet made. txt) or read online for free. For example, if you have a 60% chance of winning and a 40% chance of losing, and your payoff is 2 times your loss, your edge is 0. xlsx","contentType":"file. Overall profit if your selection wins will be: $0. Apply the kelly formula and get the fraction that optimizes the. The same principle would work for any investment with an expectation of being profitable. This is what you get: Step 2 The Kelly Criterion is employed by many sharp players to advantage bet vs. Since our goal is to apply the Kelly criterion on stocks, a similar result for a continuous distribution is relevant (Thorp 2006). Link tải Excel 2016. Kelly % = W-[(1-W)/R] Where: W = Winning. . Created in 1956 by a Bell Labs scientist, the Kelly criterion is a formula for sizing bets or. The Kelly formula is : Kelly % = W – (1-W)/R. In sports betting, this formula is used to decide the optimal amount of money to place in a bet. 18 % of your account balance on this selection. 7 on 3 votes. Search for jobs related to Kelly criterion calculator excel or hire on the world's largest freelancing marketplace with 23m+ jobs. , This Kelly Criterion Bet Calculator takes your inputs on odds, bankroll and payouts to deliver your Kelly Criterion optimized bet size. While it does not assign value to risk, simple. The famous coin-flipping exercise that many investors use to measure the performance of chance. I am able to generate the same Ralph Vince Optimal f by maximizing the TWR function in Excel which is 3. 8 KB)The Kelly Criterion is a method of analyzing your odds and assigning a number to those odds. The Kelly criterion can easily be extended to uneven payoff games. ปี การที่เราจะมาคำนวนมือหรือแม้กระทั่งลง Excel ก็ไม่ง่ายแล้ว หากเรามีสินทรัพย์ที่มากกว่า 2 สิน. pdf), Text File (. f = fraction of current bankroll to bet. Key Takeaways The Kelly criterion or Kelly strategy is a mathematical equation used to determine position sizing for investors and gamblers. The spreadsheet compares your betting performance to the hypothetical results had you strictly followed the four staking plans. If the dice bias were less, at 53%, the Kelly criterion recommends staking 6%. The purpose of this study is to address the critical issue of optimal credit allocation. Copilot will help identify trends, propose what-if scenarios, suggest ideas for improving your business, and will even build everything into an easy-to-read dashboard. ” Kelly Multiplier Below is an explanation of how to apply the generalised Kelly Criterion to betting: Step - 1: List all possible outcomes for the entire set of bets. 1. Build a new plugin or update an existing Teams message extension or Power Platform connector to increase users' productivity across daily tasks. using excel and Brownian motion. 유도 3. The spreadsheet compares your betting. Many adages exist: don't bet more than 2% on one trade, don't enter trades that don't have x% upside, never bet on the same stock twice in quick succession, etc. . Then click the centre align button to ensure all data is displayed in the centre of their cells. Kelly criterion allows you find out the fraction f* of your bankroll that you should bet if the odds of a bet and the probability of its success are known such as to maximize the logarithmic growth rate of your account. 647. Use this if you have a crystal ball that tells you the true probabilities. Here, we determine our ideal bet size (f) by dividing our edge by the game’s variance. Unsurprisingly, the volatility or variance in the evolution of the bankroll is greatest for full-Kelly and least for eighth-Kelly. On 40. xls / . The purpose of the Kelly Criterion is to help you define the optimal stake amount based on your available funds and the edge you believe you have over the bookmaker. The spreadsheet should deduct the. 6 Profit = 1 Loss = 1 #Betting percentage for the differnet scenarios a = kelly (PercentageOfOdds,Profit,Loss) b = a/2 # Half Kelly c = a*2 # Double Kelly # Creating the monte carlo simulation with the for statements Saving all results in a list before changing. We’ll be experimenting with the Kelly criterion formula for a practical example. Theoretically, the Kelly criterion states that the optimal strategy is to allocate a fraction of available capital to each borrower. is the Kelly Criterion. Phiên bản Excel 2021. The Kelly Criterion is a method of analyzing your odds and assigning a number to those odds. Download full-text PDF. The Kelly criterion is a formula for sizing a bet or investment, aiming to maximize the expected geometric growth rate of wealth. Method 4: Programming: Get the minimum value under a condition with a VBA macro. Suppose we have initial capital X 0 and we want to determine the optimal betting fraction f to invest each year in S&P 500 stocks. xlsx","contentType":"file. Step 1: Download and Install MemuPlay on your PC. The Kelly criterion, which was first introduced by John R. txt) or read online for free. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a bet. The Kelly criterion is a money management system that’s used by many professional traders and hedge funds. The spreadsheet compares your betting performance to the hypothetical results had you strictly followed the four staking plans. 75 in addition to your stake of $57. The formula is: Kelly fraction = edge / odds. The casino is willing to pay 2 to 1 on any bet you make. 70% of 1 = 0. Because we give SUMIFS two values for criteria, it returns two results. Step 1: Download and Install MemuPlay. This provides an additional filter by which you can analyse. On such events, it is recommended that bets be made according to the Kelly strategy. is the author of the Kelly criterion formula from 1956. 55, which is 18. Note this is 1-loss PercentageOfOdds = 0. Kelly Jr. which gives you the optimal amount to bet ( f*) given the probability of. * W = Historical winning percentage of a trading system. Bettors can also modify the Kelly formula to suit their needs and tolerance to risk. ( مشاهده سایر نسخه های Microsoft Excel) دانلود نرم افزار اکسل 2016 (برای ویندوز) Microsoft Excel 2016 Windows. 1. He in fact, suggested the Kelly’s Criterion to help the telecom company with long distance telephone noise issues. Citing from the old thread:18+ Kelly Criterion Formula For Excel Download Image Formulas from formulasexceledu. More than 100 million people use GitHub to discover, fork, and contribute to over 330 million projects. The Kelly Formula is: Kelly % = W – (1-W)/R where: * Kelly % = percentage of capital to be put into a single trade. Your fortune will grow, on average, by about 0. 4. As usual, you can also solve this problem with a VBA macro. It results in the maximum expected rate of bankroll growth, and is the optimal strategy for money management in betting games. Further, suppose that on each trial the win probability is p > 0 and pb - q > 0 so the game is advantageous to player A. Kelly criterion calculator stocks. 5 if you want to wager 50% of the stake recommended by the Kelly. Kelly Criterion ruined many bankrolls especially of those who can’t analyse the exact probabilty. To calculate the “W,” divide the number of trades that brought in a. 45)/ (2. Learn more about the Kelly criterion. 7 2. Well, say hello to Kelly’s Criterion! 14. 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. Jan 11 21, 15:44 GMT. 40,678. The only way to get a mathematical edge is to practice. 250. Hence, the Kelly criterion can be very risky in the short term. In the one asset two valued payo case, the optimal Kelly wager is the edge (expected return) divided by the odds. Kelly criterion can generate an optimal bidding fraction (MacLean et al. 04. Default value: 3%. It's free to sign up and bid on jobs. The formula has a number of applications, one of which is sports betting. Predicting a borrower’s probability of default is a key requirement of any credit allocation system but turning it into labeled classes leads to problems in performance measurement. Here’s a modified version of the Kelly formula that advantage blackjack bettors use: f = a/v. 9K views 1 year ago Position Sizing can make or break your trading results. rate of wealth. By inputting the odds, the probability of the event occurring and your betting balance, you will be able to. The main requirement to getting the biggest profits is you must have the mathematical edge over the house. In this video, you will learn how to maximize account growth by defining optimal position size using a fractional Kelly Criterion approach and minimizing you. Download RFP Vendor Template - Excel. The Kelly Formula is: Kelly % = W – (1-W)/R where: * Kelly % = percentage of capital to be put into a single trade. 40) / 1 = 0. Kelly Criterion can be used in either discrete finance or continuous finance applications. Mode 1: You know the true probability of an outcome and the soft bookmaker odds. Simply input your betting bankroll, the odds on offer, your assessed probability for that outcome occurring and your Kelly fraction. Download full-text PDF Read full-text. The reason is because in order for the. [content_control] {"payload":{"allShortcutsEnabled":false,"fileTree":{"":{"items":[{"name":"Kelly Bet Calculator. Kelly criterion staking approach aims to maximize your winning and protect your capital in losing runs. This strategy allows you to determine the size of the rates depending on the bank and previous results. While it is possible to create a simple spreadsheet that will execute the Kelly Criterion Formula, there is no. The most popular methodology for determining the optimal wager size is the Kelly Criterion. However, unlike in the previous situation we examined the Kelly Criterion for, there is not a nite number of outcomes of a bet on a security, so, we will useUsing kelly: 119 * 1. 2% x 77. The main advantage is being able to use quantitative functions with the tidyverse functions including purrr, dplyr, tidyr,. the market, lazy man’s gambling at its finest. 40. The worksheet tracks your bets and provides in-depth performance data as well as a profit graph. Kelly showed that $$frac {p cdot (b+1) – 1} {b}$$ optimizes the growth rate of wealth if the game to bet on is repeated for many times, where p is the probability to win the bet and b. 866. The table works in Microsoft Excel. I introduced the Kelly Formula into Excel and created a spreadsheet with adjustments. Learn how to make high probability bets and make income at the link below"WELCOME20" to get $20 off your first month!Kelly Crite. a. Download ; Constants ; Excel ; Theorems ; Kelly Criterion Calculator. 10. اکسل یکی از نرم افزارهای مجموعه آفیس میباشد که به عنوان محبوب ترین ابزار ساخت جدول ، نمودار و مدیریت. The true probability may lie between 40% and 60%, or even 20% and 80%. Football betting stats & predictions | OddsWizz. Step - 2: Calculate the probability of each outcome. It was proposed by John Kelly in the 50’s who at that point was working for AT&T’s Bell Laboratories. Calculate the relationship between risk and return R. Basically, it’s a staking. Seguiremo tutti gli step aggiornando la cassa di volta in volta. Explore math with our beautiful, free online graphing calculator. 5. * f* is the fraction of the current bankroll to wager; * b is the odds received on the wager; * p is the probability of winning; * q is the probability of losing, which is 1 − p. Kelly Criterion spreadsheet? I've been reading about using Kelly Criterion to decide stakes and I was wondering if there's a readily available spreadsheet that I can input odds into? Kelly criterion implies that you can estimate your edge. You can read more about how it works in this Kelly Criterion Wikipedia article. Bayesian statistics, health economics and random stuff by Gianluca Baio. Therefore, your probability is . The Kelly Criterion was. Big-time investors such as Warren Buffett and Bill Gross have recently revealed that they use the Kelly. . Finally, MintDice operates at a 1x Kelly Criterion schedule. 2 – Kelly’s Criterion. This calculator enables you to calculate payoff and profit scenarios for Asian Handicap bets. One thing that complicates the matter is that short term results can vary widely from the long term. Try out the Kelly Criterion Calculator below, but pay careful attention to heavy favorites (i. Paste the following code into the new module:We would like to show you a description here but the site won’t allow us. V3S 7A4. 55)-0. Choose the destination folder where you want the Office file to download. 28% on each bet. Kelly Criterion. Our Kelly Criterion calculator makes it easy to calculate the ideal size of your bets for any given. , who was a scientist at Bell Labs. Kelly, Jr in 1956. Kelly Criterion. W = Historical winning percentage of a trading system. is the author of the Kelly criterion formula from 1956. O = log (1+. 탐욕의 공식이란 별명이 있다. Not only can Kelly Criterion be used for sports betting and casino games, it can also be used in the stock market. The following is a collection of free online calculators for sports betting enthusiasts. Methods similar to those already described can be used to maximizeKelly Criterion Formula. In my recent article The Real Kelly – an #excel implementation for mutually exclusive outcomes I described how to use excel to find optimal bet sizes for a set of mutually exclusive outcomes applying the generalised Kelly Criterion (a. Kelly Jr. Click Install Office to begin the Excel download process. When the download is complete, open the file, and Microsoft will automatically install the entire collection of Microsoft 365 apps to your computer. Download Kelly Criterion Software Smart Free Photo Resizer v. It's free and easy to use. , -200 odds and shorter) because the Kelly Calculator struggles with “sure things. Default value: 100. To calculate the optimal bet size use Kelly's criterion . Now, instead of 5%, assuming you lost 10% and your capital becomes 90000, now in order to recover 10000 or 10% of your original capital, you have to earn back 11. It was proposed by John Kelly in the 50’s who at that point was working for AT&T’s Bell Laboratories. The multiplier is normally set to 50%, for an aggressive betting strategy set it to 100%. Excel VBA Course - From Beginner to Expert. Of course, the other end of the scale is that all 6 picks will lose. 55×1-0. On the right-hand side, p is the. On 40. It can seem counterintuitive in real time. The Kelly criterion is a money management principle that beats any other approach in many respects. The problem with this is that KC completely upends this. The calculator will tell you whether or not you should be betting and how much to stake. For the purpose of kelly, that's simultaneous. It is a formula that maximizes your profits and guides your better management. 50) =. The spreadsheet compares your betting. * R =. ; Click Save to copy the download to your computer for installation at a later time; IT professional resources IT professional working in managed. Results. On 40. 0600. Don't let the word "journal" confuse you into thinking its a place where you write a few lines about a few trades and you're done! The Kelly Criteria is an interesting thing to play with. The goal of the equation is this: don’t go broke. 25; q = 0. In the formula, the symbol a represents the player’s edge, and the symbol v represents the game’s variance. Nếu có nhu cầu làm việc nhiều với bảng tính, hãy tải Excel miễn phí gồm các phiên bản Excel 2003 đến Excel 2016 Free để sử dụng, để tiện lợi trong sử dụng hãy tải Excel 2016 tiếng Việt. It became notorious among equities traders because it was said that Warren Buffet uses a version of it when he’s picking his investments. B=2-1=1. But on those occasions when you lose, you will lose your stake of $57. We then lo. Assuming the anticipated wager has odds of 3. Esta herramienta utiliza una fórmula matemática desarrollada por John Kelly en la década de 1950 que tiene en cuenta la probabilidad de ganar y perder, así como la relación riesgo-recompensa. You can view the bet result for a specific scoreline, or you can. We will show why that holds, but. 33 on the Capitols you ensure you make just over $2,906 regardless of the outcome! This would have been very important given the Capitols went on to win the Stanley Cup. Kelly Criterion [Kelly 1956] permits the investor to maximise return on investment, geometrically. We then lo. Constructing a kelly criterion. This leads us to the optimal betting amount called the kelley criterion: f∗ = pb − qa ab f ∗ = p b − q a a b. On the Data tab, in the Sort & Filter group, click Advanced. 025 or 2. You have $1,000 with you. Bringing business and financial analysis to the tidyverse. For more Valuation-related content, visit or write to. The kelly criterion is a formula used to bet a preset fraction of an account. What this means is that you should wager 10 units (or 10% of your bankroll) on this coin toss. Excel Formula for Dutch Betting. It takes into account the probability of winning, the amount of the potential payout, and the size of the bankroll or investment capital. The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to. Created in 1956 by John Kelly, a Bell Labs scientist, the Kelly criterion is a formula for sizingThe Kelly Criterion. Kelly Criterion In probability theory, the Kelly Criterion is a. The calculator has 3 modes which you can use to do this. 32 = $101. To do so, create a Dabble account and download the App. 0% of similar occasions, you would expect to gain $99. According to the Kelly criterion your optimal bet is about 5. Can be any positive number. 凱利公式、凱利方程、凱利判據、凱利策略（英語： Kelly criterion 、 Kelly strategy 、 Kelly bet ），是一種根据赌博赢或输的概率，计算出每次下注的资金占所有赌本的最佳比例的公式 ，由約翰·拉里·凱利於1956年在《 貝爾系統技術期刊 （ 英语 ： Bell. Request form templates allow companies to specify the requirements for a project and expectations for vendor proposals. These calculators let you explore the United States income distribution, or size up job offers and area demographics in different states and cities. According to the kelly criterion, you should place a wager of approximately 1. If you have an 80% chance of winning $21 on a $1 bet, and 10% of winning $7. Place a second bet based upon the Kelly of the remaining capital. The Kelly Criterion is a relatively simple math equation to determine the percentage of your bankroll you should bet on any given circumstance, assuming you have an advantage. Grazie ad una formula riusciremo quanta quota del capitale. By using the Kelly Criterion, and betting 20% of their. These two factors are then input into the Kelly Criterion equation. Applying Kelly Criterion in a Trading Strategy Hello. If we let q=1−p, then interestingly, the Kelly criterion recommends that the bettor only bets (f > 0) if the bettor has an edge, that is. Revisiting the Kelly Criterion Part 2: Fractional Kelly Another common complaint about the Kelly Criterion is how to manage multiple edges on concurrent bets. The tidyquant package provides a convenient wrapper to various xts, zoo, quantmod, TTR and PerformanceAnalytics package functions and returns the objects in the tidy tibble format. I came across it almost by accident, in William Poundstone’s delightful book Fortune’s Formula. Step - 3: For each possible outcome, calculate the ending bankroll for that outcome (starting bankroll plus all wins minus all losses). Try out the Kelly Criterion Calculator below, but pay careful attention to heavy favorites (i. Download Kelly Criterion Formula Excel Spreadsheet doc. The Kelly criterion is a money-management formula that calculates the optimal amount to ensure the greatest chance of success. This guide explains how the Kelly Criterion works and why it’s so good for sports betting. Kelly Criterion - Free download as Excel Spreadsheet (. You need to input the probability (according to your own assessment) that your selection will win. The main disadvantage of the Kelly criterion is that its suggested wagers may be very large. Learn how to make high probability bets and make income at the link below"WELCOME20" to get $20 off your first month!Kelly Crite. 25) – 0. Re: Kelly Formula. Re: Hedge and or . forms of gambling, including sports betting. The formula is: (bp – q)/b = f. The Kelly Criterion is well-known among gamblers as a way to decide how much to bet when the odds are in your favor. The purpose of the Kelly criterion in investing is to see how much money you should put into a single trade. The Crypto Wizards platform capitalises on this by pre-scanning aggregated markets across thousands of coins, checking for potential opportunities and presenting these. Furthermore, many believe that the Kelly Criteria has the tendency to be overly aggressive. The Real Kelly). The formula was derived by J. the market, lazy man’s gambling at its finest. Latane (1959, 1978) introduced log utility as an investment criterion to the finance world independent of Kelly’s work. By using the Kelly Criterion, you can avoid the pitfalls of overbetting and underbetting and maximize your long-term profitability. Add your expected win probability for the selection you have chosen in the cell called “Win Probability”, using values between 0% and 100%. The Kelly criterion formula is: (bp-q)/b. Despite expending substantial resources on a formal financial education, I did not encounter the Kelly criterion in business school or the CFA curriculum. The online Kelly criterion calculator determines a recommended stake based on the prevailing odds and your estimated. So: 4 The Kelly Criterion 4. 미국의 수학자 켈리(J.