# Kelly Criterion Calculator — Optimal bet sizing for wagers > Calculates optimal bet sizing using the Kelly criterion formula for maximizing wealth. (iPhone/iPad app by Hergott Technologies, Inc.) - Source: https://appshunter.io/ios/app/kelly-criterion-calculator/id1557600774 (this page in markdown: same URL + `.md`) - Developer: [Hergott Technologies, Inc](https://appshunter.io/developer/994302378) - Category: Games, Finance - Price: Free - Rating: 3.50/5 from 4 App Store ratings · 2 written reviews indexed - Age rating: 17+ - Requires: iOS 13.0 · 0 MB - Languages: American English - Released: 2021-03-12 - Data updated: 2026-09-06 - Monetization: free - User reviews in markdown: https://appshunter.io/ios/app/kelly-criterion-calculator/id1557600774/reviews.md ## What is Kelly Criterion Calculator? "In probability theory and intertemporal portfolio choice, the Kelly criterion (or Kelly strategy or Kelly bet), also known as the scientific gambling method, is a formula for bet sizing that leads almost surely to higher wealth compared to any other strategy in the long run (i.e. approaching the limit as the number of bets goes to infinity). The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. The Kelly Criterion is to bet a predetermined fraction of assets, and it can seem counterintuitive. It was described by J. L. Kelly Jr, a researcher at Bell Labs, in 1956. For an even money bet, the Kelly criterion computes the wager size percentage by multiplying the percent chance to win by two, then subtracting one. So, for a bet with a 70% chance to win the optimal wager size is 40% of available funds. The practical use of the formula has been demonstrated for gambling and the same idea was used to explain diversification in investment management. In the 2000s, Kelly-style analysis became a part of mainstream investment theory and the claim has been made that well-known successful investors including Warren Buffett and Bill Gross use Kelly methods. William Poundstone wrote an extensive popular account of the history of Kelly betting." - Wikipedia (https://en.wikipedia.org/wiki/Kelly_criterion) ## Key features - Kelly criterion formula implementation - Optimal bet sizing calculation - Maximizes expected logarithm of wealth - Determines fraction of assets to bet - Useful for gambling and investments ## Recent user reviews (2 of 2) All indexed reviews: https://appshunter.io/ios/app/kelly-criterion-calculator/id1557600774/reviews.md ### 2/5 — lacks explanations for user variables *2025-09-06* Up front, I am a novice, so maybe this app is targeted to a more learned user, but to make this more helpful for everyone interested, it would be nice to understand what the user variables are. How do you know what to enter of you are just given a scrolling list of numbers? ### 5/5 — Great app for quick calcs *2023-06-25* Use this app to size bets ## Frequently asked questions about Kelly Criterion Calculator ### What is the Kelly Criterion Calculator? The Kelly Criterion Calculator is an application that implements the Kelly criterion formula to determine the optimal bet size for wagers. It aims to maximize long-term wealth growth by calculating a predetermined fraction of assets to bet. ### How does the Kelly Criterion Calculator work? It uses the Kelly criterion formula, which involves the probability of winning and the odds of a bet, to calculate the optimal percentage of your bankroll to wager. This method is designed to maximize the expected geometric growth rate of your wealth. ### Is the Kelly Criterion Calculator suitable for beginners? The app is based on a complex probability theory concept. While it provides the calculation, understanding the underlying principles of the Kelly criterion is recommended for effective use, especially for beginners in gambling or investing. ### What devices does the Kelly Criterion Calculator support? The Kelly Criterion Calculator is available for iPhone, iPad, and iPod devices, as indicated by its compatibility information. ### What is the age rating for the Kelly Criterion Calculator? The Kelly Criterion Calculator has an age rating of 17+, suggesting mature themes or content that may not be suitable for younger audiences. ### How often is the Kelly Criterion Calculator updated? The latest version of the Kelly Criterion Calculator is 1.2, and it was last updated on July 28, 2022. This indicates a moderate update frequency. ### Does the Kelly Criterion Calculator have ads? No, the Kelly Criterion Calculator does not contain advertisements. It is a completely ad-free application. ### What is the user rating for the Kelly Criterion Calculator? The Kelly Criterion Calculator has a rating of 4.0 stars based on 3 user reviews. This suggests a generally positive reception from its users. ## Version history (last 2 releases) ### 1.2 — 2022-07-28 improvements to design ### 1.0 — 2021-03-12 No release notes. ## Apps similar to Kelly Criterion Calculator | App | Rating | Price | Category | | --- | --- | --- | --- | | [New York Sports Exchange](https://appshunter.io/ios/app/new-york-sports-exchange/id1614362380) | 5.0 (3) | Free | Games | | [BetOPENLY](https://appshunter.io/ios/app/betopenly/id6471480892) | 4.9 (46) | Free | Games | | [Blackjack Strategy Training](https://appshunter.io/ios/app/blackjack-strategy-training/id6472889123) | 4.7 (142) | $0.99 | Games | | [Poker Range Calculator](https://appshunter.io/ios/app/poker-range-calculator/id1519633344) | 4.7 (66) | Free | Games | | [Evenbet Poker Calculator](https://appshunter.io/ios/app/evenbet-poker-calculator/id1445519206) | 4.8 (175) | Free | Games | | [PanoPick](https://appshunter.io/ios/app/panopick/id1567138458) | 5.0 (20) | Free | Games | ## More apps by Hergott Technologies, Inc - [Optimal DFS](https://appshunter.io/ios/app/optimal-dfs/id1080218936) - [Fantasy Football Projections](https://appshunter.io/ios/app/fantasy-football-projections/id1540462112) - [Optimal Bet: EV Sports Betting](https://appshunter.io/ios/app/optimal-bet-ev-sports-betting/id1562901389) All apps by Hergott Technologies, Inc: https://appshunter.io/developer/994302378 ## Related topics [kelly criterion calculator](https://appshunter.io/ios/topics/kelly-criterion-calculator) --- *Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-09-06.*