Local · win rate and payoff
Kelly
Full Kelly is the win rate minus the loss rate divided by the payoff multiple. Half Kelly is half of that. A negative number means the edge is against the bet. This page does not look up a win rate and does not size an order.
About this desk
- What you use it for
- Type a win rate as a percent and a payoff multiple. The page returns the full Kelly fraction and half of it.
- What the numbers are
- Full Kelly is the win rate minus the loss rate divided by the multiple. Half Kelly is half that fraction. A negative fraction means the numbers do not pay for the losses.
- What it leaves out
- This is a formula on the two numbers you type. It is not a measured edge, and it does not size an order.
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