Betting

Expected Value in Sports Bets

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The Expected Value is defined as the average amount of winnings on a bet. If you place the same bet at the same odds, over and over again, how much can you expect to win or lose? Clearly, knowing the answer to this question can help you to make better betting decisions, and you can […]

Betting

How the Kelly Criterion Works

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The Kelly Criterion, also known as the Kelly Strategy, Formula or Bet, was developed by J.L Kelly in 1956. He was working as a researcher at Bell Labs, and created the Criterion to help determine the best bet size to increase wealth.