Kelly Criterion Betting Strategy

Have you ever wondered how to maximise your sports bets? Or have you wondered how to secure your stakes and avoid considerable losses? 

If you have, then the Kelly Criterion might be the best system for you. You’ll find that this betting system is not only popular among football, basketball, or baseball, but it’s also popular among cricket bettors.

This is not surprising since the Kelly Criterion cricket betting method doesn’t require any maths skills, and it’s effortless to learn and apply to your cricket ticket! All you have to do is calculate your initial stakes and specify the amount of your bankroll to bet.

Kelly Criterion increases the winning chances by optimising the bet size.

Kelly Criterion Betting Strategy: How Does It Work?

Imagine you’ve placed $20 on a cricket match in the Indian Premier League. You’ve chosen an over/under and hope to win the game because the 1,7 odds favour your team. 

However, the risk of losing your money is still present if the other team manages to score more wickets or runs than you’ve expected. This is where the Kelly Criterion cricket betting strategy can help you secure your bets and profits.

The Kelly Criterion formula is straightforward, and you can apply it to almost any cricket series, championship, or league match.

The Formula in Theory

Here’s how the Kelly Criterion formula is applied:

  • R = your decimal odds – 1;
  • W = the probability of winning the bet;
  • L = the probability of losing the bet (1-W);
  • B = a percentage of the bankroll to bet.

B = (RxW – L)/R or Your Bankroll = ((probability of winning the bet x your decimal odds – 1) – the probability of losing) / (probability of losing your bet).

The Formula in Practice

Let’s assume that you’ve chosen DC as a favourite in the match against the Chennai Super Kings, and their pure win odds are 1.97. Furthermore, the Chennai Super Kings still have considerable odds to turn the game in their favour. 

However, two teams play the game, and the probability of winning is equally distributed (50%) among them. This means that your Kelly Criterion cricket betting Formula for DC winning the game, in practice would look like this:

((0,50 x 1.97 – 1) / (1.97 – 1) = 0.05 

In this case, the Kelly Criterion cricket betting strategy tells you to place 5% of your total bankroll on the specific bet you’ve chosen. So, if your bankroll equals $100, this bet will amount to $5.

Pros and Cons of the Kelly Criterion

Like any other strategy, this one has some advantages and disadvantages for the players. Here are a few of them: 

ProsCons
Securing your cricket betsVery complicated if placed on multiple bets at once
Reducing the chances of losing significant amounts of moneyCan lead to certain losses
Backing your betsCalculating the actual chances of each team winning the game can be very hard
Long-run profitsThe system doesn’t consider the variance of the actual outcomes

Kelly Criterion In Cricket Betting – Will It Increase My Chances of Winning?

Yes, the Kelly Criterion generally increases the chances of winning cricket bets. You can utilise this system by using and combining different wagers in your ticket. For example, you can place over/under, spreads, top batsman, top bowler, tied match, and much more.

By calculating the size of your bets and the percentage of the bankroll staked, the Kelly Criterion Cricket Betting System reduces your chances of losing. Subsequently, your chances of winning are increased.

To maximise your profits, you’ll have to follow three simple rules:

  • Avoid low cricket odds;
  • If you are placing parlays, find odds higher than 2.0;
  • Place enough money on your bankroll.

Note that this system is designed to increase your winning chances in the long run.

Tips For Novices

Here are our TOP tips on how to choose your cricket betting system:

  • Rely on teams and players’ previous statistics;
  • Check different coefficients and outcomes;
  • Reasonably manage your bankroll;
  • Consider the type of championship or series you place your bets on;
  • Beware of the match conditions (injuries, player statistics, previous matches’ results, etc.).

Cricket betting strategies help reduce the risk of losing significant amounts. Furthermore, they are used to guarantee that each player will win back the money he placed and reasonably choose the percentage of bankroll to gamble.

Different strategies offer different solutions. For example, the Flat Betting, Counter D’Alembert, or Miller System is similar to the Kelly Criterion cricket betting strategy in calculating the bets.

They are all centred around low-risk gambling, which can provide you with significant profits in the long run.

On the other hand, the Oscar Grind or the Correct Score betting strategy is much more straightforward in calculating and has a higher risk inherent to the system. Nevertheless, these can be much more profitable than the Kelly Criterion.

Cricket Betting Sites and Apps where This Strategy Can Be Used

Rating Highlights Bonus Link
1

Batery

CBG Rating

5
Read review

Batery Highlights

  • Wide Cricket Betting Line
  • Handy App for Smartphones
  • Fast Withdrawal of Funds
Welcome bonus

150% up to INR 25,000 + 200 FS

Join Batery and get a 150% up to INR 25,000 + 200 FS on your first deposit.
Visit
2

Parimatch

CBG Rating

4.8
Read review

Parimatch Highlights

  • Instant withdrawal
  • Best Android & iOS App
  • Best cricket expertise in India
Welcome bonus

150% up to INR 30,000

New players at Parimatch can get a bonus on their first deposit 150% up to INR 30,000.
Visit
3

Melbet

CBG Rating

4.7
Read review

Melbet Highlights

  • Minimum deposit of INR 110
  • Nice promos for active players
  • Best customer support in India
Welcome bonus

100% up to INR 20,000

Melbet offers a generous bonus 100% up to INR 20,000 on the first deposit made by new users.
Visit
4

Dafabet

CBG Rating

4.6
Read review

Dafabet Highlights

  • Most trusted bookie in India
  • Multiple betting markets
  • Good bonuses for new players
Welcome bonus

200% up to INR 20,000

Dafabet offers all new users a bonus of 200% up to INR 20,000.
Visit
5

888starz

CBG Rating

4.5
Read review

888starz Highlights

  • Minimum deposit INR 85
  • Accepts INR
  • Official Android App
Welcome bonus

100% up to INR 8,000

New users receive a welcome bonus of 100% up to INR 8,000 on their first deposit.
Visit
6

Paripesa

CBG Rating

4.4
Read review

Paripesa Highlights

  • Minimum deposit INR 200
  • Fast withdrawal
  • A new brand with great bonuses
Welcome bonus

100% up to INR 8,000

On your first deposit, you will receive +100% of your deposited amount.
Visit
7

Megapari

CBG Rating

4.3
Read review

Megapari Highlights

  • Huge selection of cricket
  • Best betting odds
  • Min deposit of INR 300
Welcome bonus

130% up to INR 39,000

The welcome bonus is awarded to all new users who have made a first deposit.
Visit
8

1xBet

CBG Rating

4.3
Read review

1xBet Highlights

  • Registration in 1 click
  • Convenient Mobile App
  • Most popular gambling provider
Welcome bonus

120% up to INR 42,900

Sports bonus offers 120% up to INR 42,900 cash available for the absolute newcomers on the first completion of their deposit requirements.
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9

BC Game

CBG Rating

4.1
Read review

BC Game Highlights

  • Official Curacao License
  • Accepts INR
  • Wide Cricket Betting Line
Welcome bonus

180% Welcome Bonus for First Deposit

BC Game guarantees a welcome bonus of up to 180% on your first deposit.
Visit
10

SapphireBet

CBG Rating

3.9
Read review

SapphireBet Highlights

  • Great Choice of Cricket Betting
  • Easy Registration
  • Quick Withdrawals
Welcome bonus

100% up to INR 8,700

The welcome bonus is available to all new users who make their first deposit.
Visit

Conclusion

The Kelly Criterion is a good option for online cricket betting newbies because of the easy-to-learn rules and the moderate approach. If you want to optimise your bets, this system may give you the best formula.

Furthermore, the Kelly Criterion cricket betting system is a great solution when your wallet is thinner than your love for cricket. The main advantage of the Kelly Criterion bets is that they have lower risk than other staking strategies, and the profits, in the long run, are guaranteed.

Nonetheless, it can become very complicated when placing multiple cricket bets at once, and the Kelly Criterion cricket betting doesn’t consider the variance of the actual outcomes. 

This can lead to a series of losses, but if you’ve reasonably calculated the bets, there won’t be any space to go bankrupt.

FAQ

Why Should I Use a Cricket Betting Strategy?

You should use a cricket betting strategy because it increases your winning chances, maximises your profits, and mitigates the risk of bankruptcy.

Can I Win Money By Using Kelly Criterion Betting Strategy?

Yes, you can win money by using the Kelly Criterion. You’ll have to choose higher odds and parlays above 2.0 to win real money. Note that you increase your bets to a certain level, and afterwards, every increase will result in losses. You can use the Kelly Criterion formula to determine your potential winnings.

Will Kelly Criterion Increase My Chances Of Winning?

Yes, the Kelly Criterion increases the winning chances by optimising the bet size and reducing your risk.

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