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The scientific researcher J.L. Kelly came up with the Kelly Criterion system in 1956 and it is still used to this day. While it is both a strategy used for online betting, it is also implemented in connection with the financial markets.

So it’s not surprisingly a little bit complicated, but maybe you can follow it anyway. Keep your mouth shut as this is a mathematical equation. You must calculate the probability of a particular sports bet with the following formula:

Formula: (bp – q) / b = f

• F stands for how much of your balance you want to bet.
• B is the odds you are betting on.
• P is the probability of winning.
• Q is the probability of losing (1 – p)

This means that b is the multiplication factor in this formula, which is the odds on the betting market you are playing on, without counting the bet. If we say that it is a bet where there are odds of 4.00 and a probability of winning of 35 percent, the formula will look like this:

((3*0.35)-0.65) / 2 = 0.4

Here you have a higher probability of losing than winning, and therefore you will place 40 percent of your bet on the bet if you follow this strategy.

It can be said that the biggest advantage of the Kelly Criterion system is that you as a player may find it easier to have a balance between safety and security, as well as win winnings while also protecting your bank balance. If you are mathematically inclined, you may find it easy to follow this betting strategy. But if you’re already getting a headache just thinking about it, it might be a good idea to consider another strategy. Take the Henze system, for example, which is very simple and which most people can follow. You can read about exactly that system below when we compare it with Martingale.

Martingale vs Henze System

We have briefly mentioned the Henze system, but have chosen to wait to review it until now. It is relevant to compare it with Martingale, as both are probably among the most widespread odds systems with betting.

The Henze system probably takes the prize for the most popular betting system on the Danish market. This is partly because it is super simple. You choose your bet to start with, and let’s assume you bet DKK 100. It is important that you bet all one hundred kroner on a bet, and it must be at odds of between 1.10 and 1.30. The Henze system focuses on odds with a low risk of being lost.

Hopefully you have been smart with your analysis and win on your bet. When we talk about being smart with the analysis, it’s about analyzing who the opponent is playing against, has the team lost many times in a row, are there injuries associated with a single game, etc. As I said, hopefully you won the first game. You then go all in on bet number two. This means that you bet your initial bet, i.e. the DKK 100, as well as the winnings.

Since the odds are low, you will find that your account increases slowly in relation to the winnings won. But it may increase more evenly than if you risk your money on higher odds. One can partly argue that you might be able to win higher profits with Martingale faster, but this also entails a risk of achieving bigger losses faster. Therefore, it depends a lot on your playing style.