[FredMadison]

Hey,

I am struggling for several days to understand and put to work this very interresting paper (if you don't want to bother with registration you can download it directly from here) about the Kelly criterion for simulataneous events, but I don't have a degree in maths, and it sounds like chinese to me.

Here is my case:

I make tennis bets using a fractionnal Kelly strategy (fraction = 60%).

1st question) Are the results of this paper applicable to Fractionnal kelly (I didn't even manage to understand that!)


I have a fairly good idea about my edge on each bet. Now during a typical day I will make several bets at various hours of the day. Naturally, when I make a bet, I usually still have many other unsetteled bets. Hence,

2nd question) Most of my bets are not strictly speaking simultaneous they are just bets while other bets are unsettled. Is this an issue to apply those logarithms?


For my betting, I use an excel calculator. My inputs are : the odd of the bet, my edge, the kelly fraction, my bankroll, and my output is the $ amount I should bet.

3rd question) Where on earth are those logarithms in the paper! Seriously, I think I vaguely managed to locate them (they are in page 7 aren't they?) but how to translate them into a working excel formula.

Thanks a lot in advance to anyone who'll take the time to read this paper and help me!

[gloriesam]

Kelly Kriterion is not really ideal for sports betting. BR money management is much better.

[antonyp22]

^and what exactly is the difference between money management and the Kelly criterion?

The Kelly criterion is an example of money management and has been demonstrated to be the most optimal way of achieving BR profitability and growth

[antonyp22]

^and what exactly is the difference between money management and the Kelly criterion?

The Kelly criterion is an example of money management and has been demonstrated to be the most optimal way of achieving BR profitability and growth

[HeeeHAWWWW]

Simultaneous Kelly is included in the SBR calc:

http://www.sportsbookreview.com/bett...ly-calculator/

If you search Ganch's older posts you might find it in excel form.

[bonzo1971]

Good evening Sirs,
i’ve tried to find on SBR forum the post about how to construct in excel a Simultaneous Kelly.
But they are deleted.
There is someone can help me some way?
I need to create in excel something similar. Do you have something finished file to send to me as sample?
I'm a newbie.
Thanks in advice for help.
Regards
Vincent Borrelli

[freestyle55]

Head so much about this? Does it even come in to play? Vegas must have everything accounted for.