Hi all,
Does anyone know the stake for +EV is calculated using a 30% Kelly Criterion? For instance, I have $578 left after open bets. The value for the bet is 16.99% and the odds is 2.75. The calculated stake is $9.00. Equation for Kelly is: K% = p - (1 - p) / b, isn’t p = (1.1699/2.75) and b = 1.75, and thus
K% = (1.1699/2.75) - (1- (1.1699/2.75))/1.75 = 0.097085
0.09708 * 0.3 * 578 = $16.83
Am I missing something?