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https://github.com/subodh101/bet-optimizer
Simple python package to identify optimal bet size and odds using basic Kelly Criterion and Expected Values.
https://github.com/subodh101/bet-optimizer
betting expected-value kelly-criterion python
Last synced: 7 days ago
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Simple python package to identify optimal bet size and odds using basic Kelly Criterion and Expected Values.
- Host: GitHub
- URL: https://github.com/subodh101/bet-optimizer
- Owner: subodh101
- License: apache-2.0
- Created: 2023-11-14T13:58:26.000Z (about 1 year ago)
- Default Branch: main
- Last Pushed: 2023-11-22T08:00:06.000Z (about 1 year ago)
- Last Synced: 2024-11-09T12:44:17.391Z (2 months ago)
- Topics: betting, expected-value, kelly-criterion, python
- Language: Python
- Homepage:
- Size: 14.6 KB
- Stars: 4
- Watchers: 1
- Forks: 0
- Open Issues: 2
-
Metadata Files:
- Readme: README.md
- License: LICENSE
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README
# bet-optimizer
`bet-optimizer` is a Python package designed for those interested in applying mathematical strategies to betting. It leverages the Kelly Criterion and the concept of positive expected value (EV) in betting, helping users calculate the optimal bet size and the minimum positive odds required for a bet to have a positive expected value.
## Features
- **Kelly Criterion Bet Calculation**: Calculate the optimal fraction of your bankroll to bet based on your probability of winning and the odds offered.
- **Positive Odds Calculation**: Determine the minimum positive odds required for a bet to have a positive expected value, based on the probability of winning.
## Installation
The package can be easily installed via pip. Just run the following command in your terminal:
```bash
pip install bet-optimizer
```
## Usage
### Kelly Criterion Bet Size Calculation
To calculate the optimal bet size using the Kelly Criterion:
```python
from bet_optimizer import kelly_criterion_bet
probability = 0.5 # Probability of winning the bet
odds = 2.0 # Decimal odds of the bet
bankroll = 100 # Size of your current bankroll
bet_size = kelly_criterion_bet(probability, odds, bankroll)
print(f"Optimal Bet Size: {bet_size}")
```
### Positive Odds Calculation
To calculate the minimum positive odds required for a bet:
```python
from bet_optimizer import get_positive_odds
probability = 0.5 # Probability of winning the bet
positive_odds = get_positive_odds(probability)
print(f"Minimum Positive Odds: {positive_odds}")
```
## Requirements
- Python 3.6 or later.
## License
This project is licensed under the Apache License - see the [LICENSE](https://github.com/subodh101/bet-optimizer/blob/main/LICENSE) file for details.
## Contributions
Contributions are welcome! Please feel free to submit a pull request or open an issue.
## Support
If you encounter any problems or have any questions, please open an issue on the project's [GitHub page](https://github.com/subodh101/bet-optimizer).
## More Information
For more information and to download the package, visit [bet-optimizer on PyPI](https://pypi.org/project/bet-optimizer/).