Generic Kelly Spreadsheet
I haven't updated this in a while but here's the generic Kelly spreadsheet I first wrote 3 or 4 years back.
Currently I do all my serious optimization outside of Excel, but this works decently well for small problems with boundary conditions. It does NOT handle correlation. It does of course necessitate Excel Solver (included with Excel by default).
To get it going click "Read Odds" each time you make any changes to any odds, probabilities, edges, or max or min parlay sizes and then click "Solve". It could take a while for larger problems. There's a "Clear Stakes?" dropdown box beneath these two buttons. Setting the value to TRUE will clear stakes from previous optimizations (set to zero) when clicking either "Read Odds" or "Solve".
Should this be done? If you're running a new optimization then you almost certainly should. But if the optimization you're running is very similar to the previous one, the previous results may be provide the optimizer "clues" on starting values and speed up the process. Occasionally, however, this may work against you as these clues may fallaciously convince the optimizer it's seeing convergence when in reality it isn't. So if you don't trust some results, try setting "Clear Stakes?" to TRUE (but in the case of a large optimization you might have to be prepared for it to take longer).
The "Use Edge" dropdown doesn't really do much of anything other than specify when changing the Odds whether this will effect the probability (Use Edge=TRUE) or the edge (Use Edge=FALSE). Also if the edge and probability ever get out of sync Use Edge will tell the optimizer whether to trust the Edge number (TRUE) or the probability number (FALSE). In theory this should never happen.
On the top right you can specify fixed parlay odds for parlays of a given size. This can be used, for example, with parlay cards or with teasers. When using this option, specified odds are ignored when looking at parlays of the given size.
The spreadsheet takes decimal-style odds. To convert from US to decimal odds you can just use the US2DEC() function (included). So for example in cell B3 if you wanted to specify odds of +250 you could either enter 3.5 or =US2DEC(250).
This VBA should make the spreadsheet faster than most pure Excel solutions because it limits the calculations within the spreadsheet to close to the bare minimum necessary.
Let me know if you find any bugs or have any suggestions, but that said, I don't plan to be heavily supporting this.
Currently I do all my serious optimization outside of Excel, but this works decently well for small problems with boundary conditions. It does NOT handle correlation. It does of course necessitate Excel Solver (included with Excel by default).
To get it going click "Read Odds" each time you make any changes to any odds, probabilities, edges, or max or min parlay sizes and then click "Solve". It could take a while for larger problems. There's a "Clear Stakes?" dropdown box beneath these two buttons. Setting the value to TRUE will clear stakes from previous optimizations (set to zero) when clicking either "Read Odds" or "Solve".
Should this be done? If you're running a new optimization then you almost certainly should. But if the optimization you're running is very similar to the previous one, the previous results may be provide the optimizer "clues" on starting values and speed up the process. Occasionally, however, this may work against you as these clues may fallaciously convince the optimizer it's seeing convergence when in reality it isn't. So if you don't trust some results, try setting "Clear Stakes?" to TRUE (but in the case of a large optimization you might have to be prepared for it to take longer).
The "Use Edge" dropdown doesn't really do much of anything other than specify when changing the Odds whether this will effect the probability (Use Edge=TRUE) or the edge (Use Edge=FALSE). Also if the edge and probability ever get out of sync Use Edge will tell the optimizer whether to trust the Edge number (TRUE) or the probability number (FALSE). In theory this should never happen.
On the top right you can specify fixed parlay odds for parlays of a given size. This can be used, for example, with parlay cards or with teasers. When using this option, specified odds are ignored when looking at parlays of the given size.
The spreadsheet takes decimal-style odds. To convert from US to decimal odds you can just use the US2DEC() function (included). So for example in cell B3 if you wanted to specify odds of +250 you could either enter 3.5 or =US2DEC(250).
This VBA should make the spreadsheet faster than most pure Excel solutions because it limits the calculations within the spreadsheet to close to the bare minimum necessary.
Let me know if you find any bugs or have any suggestions, but that said, I don't plan to be heavily supporting this.
