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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
A variation of fractional odds is known as Hong Kong odds. Fractional and Hong Kong odds are actually exchangeable. The only difference is that the UK odds are presented as a fractional notation (e.g. 6/5) whilst the Hong Kong odds are decimal (e.g. 1.2). Both exhibit the net return.
The term "fractional odds" is something of a misnomer, especially when visually reinforced by using a slash (as opposed to, e.g., a colon or the word "to" or "on") to separate a potential gain from the amount that a bettor must wager in order to receive it upon a win, because the "fraction" in question represents not the odds of winning or even ...
All show use of fractional odds: replace (fractional odds + 1) by decimal odds if decimal odds are known. Non-runners are treated as winners with fractional odds of zero (decimal odds of 1). Fractions of pence in total winnings are invariably rounded down by bookmakers to the nearest penny below. Calculations below for multiple-bet wagers ...
In statistics, this is called odds against. For instance, with a royal flush, there are 4 ways to draw one, and 2,598,956 ways to draw something else, so the odds against drawing a royal flush are 2,598,956 : 4, or 649,739 : 1. The formula for establishing the odds can also be stated as (1/p) - 1 : 1, where p is the aforementioned probability.
The price of bitcoin is up 11% since Trump's odds began rising in the betting market on October 4. In recent years, Trump's warm embrace of the crypto world has turned bitcoin into a Trump trade.
This template enables the correct sorting of fractional betting odds in sortable tables. This page was last edited on 3 April 2011, at 14:31 (UTC). Text is ...
Every worry about Jermaine Burton has been validated so far. When the Bengals selected Burton in the third round of the 2024 NFL Draft, the pick was widely seen as a bet that his off-field issues ...