Simultaneous Event Kelly

**bztips** · 03-07-11, 09:17 PM

Actually the formula is quite simple and easily implemented in Excel. First compute the single-event Kelly fraction for each event. Call these A, B and C for Events 1, 2 and 3.

If you're playing them as individual events (ie, not parlaying them), then the simultaneous Kelly fraction for Event 1 is A * (1-B) * (1-C); and similarly for 2 and 3.

If you're playing 1 and 2 as a parlay, then the Kelly fraction for the parlay is A * B * (1-C).

(I think/hope I got this right -- doing it off the top of my head.)

**Peregrine Stoop** · 03-07-11, 09:27 PM

Originally posted by roasthawg

Any easy way to implement the simultaneous event kelly formula into ms excel? Ganch's proof is rough.

the most profitable things are often 'tough'

life's a beach, eh?

**roasthawg** · 03-07-11, 09:45 PM

Originally posted by bztips

If you're playing them as individual events (ie, not parlaying them), then the simultaneous Kelly fraction for Event 1 is A * (1-B) * (1-C); and similarly for 2 and 3.

Ah, is this all there is to it? Not too bad... thanks!