This strategy is often used in different types of gambling as well as sports betting. It offers the perfect balance between rewards and risks. At the same time, it reduces volatility. When sports betting are concerned, Kelly Criterion strategy offers optimized potential returns. It also helps reduce losses significantly. Many professional gamblers seem to swear by this strategy. Even amateurs find it interesting and eager to use it.
IN SPORTS BETTING
Basically, it is a mathematical formula which when used helps determine optimal amount to be wagered or invested on an opportunity. Total amount available for use along with expected return is taken into account. It is used for in sports betting to calculate the amount to stake. The formula allows ‘correct’ calculation of the amount that can be risked proportional to your betting bankroll size.
To ensure effective using of this formula include anticipated wager winning chances. The reason is because this betting strategy ensures staking higher amounts while placing wagers having higher winning chances. Again, lower amounts are placed on wagers with low winning chances. This way, there can be enjoyed higher overall returns with reduced overall losses. To work effectively, it is necessary to assign probabilities with great accuracy.
It is suitable for beginners as it is considered to straightforward way to determine the betting amount. However, trying to calculate stake size is likely to take some time to understand and master this strategy. But it is not difficult. You just need to know how to use the formula.