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Betbook247 Id Guide: How to Make Excel Spreadsheet for the Kelly Criterion?

Betbook247 Id created an Excel worksheet using the Kelly Criterion formula that you can download here. It's free and simple to use. Simply enter your betting money, the odds available, your estimated probability of that outcome occurring, and your Kelly fraction. The optimal stake for your bet will be calculated using our Kelly Criterion Excel worksheet.

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Kelly Football Staking Excel Spreadsheet

We've also created an Excel spreadsheet using the Kelly formula for 1X2 football betting. Simply enter the teams, their odds, your estimated chance of each outcome (win or draw), your betting bankroll, your desired Kelly fraction, and the Kelly football calculator will tell you precisely how much you should bet on each outcome this weekend.

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Making Your Own Kelly Calculator in Excel

It is extremely straightforward to create your own Kelly staking calculator in an Excel spreadsheet. This is how you do it.

Step 1: Calculate the Kelly Criterion

Create the following headers in a new Excel spreadsheet: Bankroll for wagering, 1 (outcome 1), 2 (outcome 2), Odds 1, Odds 2, Probability of 1, Probability of 2, Kelly Staking Fraction Kelly Stake No. 1 and Kelly Stake No. 2

Then, to guarantee that all data is shown in the center of their cells, click the center align button.

Here's what you get:

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Step 2: Calculate the Kelly Criterion

Fill in the cells with your current betting bankroll as well as your selected Kelly staking fraction.

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Step 3: Calculate the Kelly Criterion

Enter the two possible outcomes for this market, as well as the odds-on offer for each. In this example, we'll bet on the Asian Handicap in a Premier League game between Manchester City and Swansea.

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Step 4: Calculate the Kelly Criterion

Next, input your calculated likelihood of each outcome occurring.

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Step 5: Calculate the Kelly Criterion

Now it's time to get down to business. Add the following formula to cell I2:

=((((E2*G2)-1)/(E2-1))*A2)*B2

In this case…

E2 = odds for outcome 1

G2 = your assessed probability for outcome 1

A2 = your current betting bankroll

B2 = your preferred Kelly staking fraction

img-5.jpg

Step 5b: Calculate the Kelly Criterion

And in cell j2 add the following formula:

=((((F2*H2)-1)/(F2-1))*A2)*B2

In this case…

F2 = odds for outcome 2

H2 = your assessed probability for outcome 2

A2 = your current betting bankroll

B2 = your preferred Kelly staking fraction

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Step 6: Calculate the Kelly Criterion

You're finished. The spreadsheet will now advise you on how much to wager on each market. (When the suggested Kelly Stake is less than zero, no bet is recommended.

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In this case, the calculator suggests we stake £59.56 of our £1000 bankroll on Manchester City -1 goal at 1.85 odds.

Be Consistent While Betting on Betbhai9 Id

Developing your ability to locate value bets takes time, just like any other skill or talent. Even if you intend to use a more abstract strategy, such as developing a betting model, developing an intuitive feeling for betting value and 'gut feel' for the betting markets will frequently offer the foundation for future success. Knowledge is power, and the most powerful knowledge is gained through experience. And experience is only valuable if it is obtained.

In this case, the calculator suggests we stake £59.56 of our £1000 bankroll on Manchester City -1 goal at 1.85 odds.

Be Consistent While Betting on Betbhai9 Id

Developing your ability to locate value bets takes time, just like any other skill or talent. Even if you intend to use a more abstract strategy, such as developing a betting model, developing an intuitive feeling for betting value and 'gut feel' for the betting markets will frequently offer the foundation for future success. Knowledge is power, and the most powerful knowledge is gained through experience. And experience is only valuable if it is obtained.