reversekelly: Reverse Kelly Criterion

In shearwavesplitter/GamblR: Gambling with R

Description

Reverse Kelly Criterion calculation

Usage

reversekelly(oldodds, newodds, betpercent, oddstype1 = default.GamblR.odds(),
  oddstype2 = default.GamblR.odds())

Arguments

oldodds	Original odds
newodds	New odds
betpercent	Bet percentage "tipped" for the original odds
oddstype1	Format of original odds (e.g. decimal, see Convert odds)
oddstype2	Format of new odds (e.g. decimal, see Convert odds)

Details

Calculates the implied propability from a "tip" assuming it is Kelly optimal. Useful for tailing a tip when the odds at your book are different. (e.g. If 5% at $1.75 is Kelly optimal then 2% at $1.70 may also be so.

Value

A list containing the Kelly optimal bet for the new odds, the implied probability of the 'tip', the old implied probability, the old edge, the new implied probability, and the new edge.

shearwavesplitter/GamblR documentation built on May 30, 2019, 8:27 a.m.