The casino is willing to pay 2 to 1 on any bet you make.

The Kelly Criterion bet calculator above comes pre-filled with the simplest example: a game of coin flipping stacked in your favor. It's most useful to determine the size of a position you should take. With hand waving and basic math you can also use it to help guide your investment decisions.

The Kelly Criterion is a formula to determine the proper size of a bet with known odds and a definite payout. The Kelly Criterion Bet Calculator Practical Application of the Kelly Criterion To Betting Strategies We automatically calculate your ideal bet size with the Kelly Criterion and your assumptions. Any adjustments you want to make to be conservative.Calling all three bets correctly on one parlay is a lot tougher than calling three moneylines, so choose wisely: you're not going to have the other two bets to fall back on if one leg fails.On this page you'll find a Kelly Criterion Bet Calculator. However, if for example you want to place simple moneyline bets on three matches happening on the same night, you might as well turn it into a parlay for a much higher potential payout. When should I place a parlay wager?įor starters, wagering is for entertainment and not investment, so as long as you're betting within your limits, there's no wrong time to place a parlay wager. Pick a sportsbook that keeps its lines competitive for the best price possible on a bet. The short answer: sportsbooks tend to make a good chunk of their money off of parlay bets, and it's rare to find a bet priced at what you'll expect. How can I get the best price on a parlay bet? If, for example, the result of multiplying legs of a parlay bet is 6.97, for a stake of $100, you stand to win $597 ( 6.97 x $100 minus your initial $100 stake).

Then, multiply those decimal odds together for the overall odds for that parlay. To do the math: convert the odds on your lines to decimal format (or simply use our odds converter). Parlay Calculator FAQ How do I calculate a parlay payout?Ĭalculating a parlay payout involves a bit of math, so the best and quickest way is to use our calculator above. Looking for Super Bowl 57 betting resources? We have you covered! The BetMGM app is available for mobile wagers in Washington DC, but only at Nationals Park. *In-person registration and betting only in MS.

Sports bet odd calculator