Kelly Calculator app for iPhone and iPad
4.2 (
5312 ratings )
Productivity
Finance
Developer: Miterdale
Free
Current version: 1.01, last update: 7 years agoFirst release : 21 Oct 2011
App size: 13.32 Mb
The Kelly Calculator is a simple calculator for the Kelly betting strategy.
The Kelly strategy is a formula used to determine the optimal size of a series of bets. In most gambling scenarios, and some investing scenarios under some simplifying assumptions, the Kelly strategy will do better than any essentially different strategy in the long run. It was published by J.L.Kelly in 1956 as a theoretical work. Edward O Thorp first demonstrated practical uses of the strategy in 1961.