I'm having a tough time solving a problem relating to betting.
I have come up with my own personal NBA spread on games and am comparing to the actual bookmaker spread. I've gone through converting the spread into a moneyline/implied probability in order to get an idea of the % edge. From here, I'm unsure about the optimal betting stake (want to use Kelly).
For example:
MY CALCULATED SPREAD = -10.5
BOOKMAKER SPREAD = -8
MY CALCULATED IMPLIED PROB = 89.37%
BOOKMAKER IMPLIED PROB = 78.35%
PERCENT DIFFERENCE = 11.02%
What is the optimal stake amount in this situation? Or how would you get to it? Appreciate advice you will share!