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Issue #23
Kelly Criterion, Weekly Best Bets, and This Week's Slate
Today's Slate
Optimizing Your Bet Sizing
Ever wondered how pros decide exactly how much to put on a bet, without risking too much of their bankroll?
One of the most common strategies is the Kelly Criterion; aimed at helping bettors hit the risk/reward sweet spot on each bet.
How do you decide how much to bet? The Kelly Criterion helps optimize your bets based on your edge. This math concept helps in betting and investing! #KellyCriterion
— Underdog Chance (@underdogchance)
5:00 PM • Nov 23, 2024
The Kelly Criterion
Think of it as the sweet spot between betting too little (and missing out on profit) and betting too much (and risking a chunk of your bankroll).
Kelly gives you a precise fraction (unit) of your bankroll to wager based on your perceived edge.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/c9479fce-93e6-48f1-b81a-04ca75470482/kellyfraction.png?t=1734832872)
Quick Example
You spot +150 odds and estimate a 40% chance of winning:
P = 0.40
A = 150
Kelly Fraction = 0
This suggests a “no bet” if you only trust a 40% probability.
But if your confidence rises—say to 45%—the formula would advise staking 8.33% of your bankroll.
$1,000 bankroll x 8.33% = $83.30
Why The Pros Use Kelly
Discipline: Avoid random big bets.
Efficiency: Grow your bankroll steadily instead of riding wild swings.
Edge Maximization: Bet more when you truly see value. Bet less (or not at all) when you don’t
The main objective of sports betting (for most) is to win money over the long term.
The Kelly Criterion (and similar strategies) are used because they help take some of the emotion out of betting.
It’s Not Perfect
Kelly is only as good as your (or someone else’s) probability estimates.
If you overestimate your edge, you’ll bet too big.
Underestimate it, and you might play it too safe.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/e2f6d867-18c2-4ddc-bca9-5d48108a9279/image.png?t=1734884573)
Even if your estimates aren’t perfect (they never will be), the idea here is that you’re being consistent.
Why You Should Care
The Kelly Criterion isn’t a magic bullet, but it brings a solid approach to sizing your bets.
The next time you’re about to place a bet, think about it.
You can plug in the odds, your estimate, and your bankroll, and any Kelly Criterion Calculator will spit out a number.
By consistently sizing your bets with any strategy, you’ll be better positioned to build that bankroll over the long haul.
Community Cappers Lock In Their Weekly Picks
Last Week:
Jeremiyah Love 2H TD (+135) 👎
Kirk Cousins u0.5 INT (+100) 👎
Michael Porter Jr. 3+ Threes (+100) 👎
Riley Leonard u26.5 Pass Attempts (-110) 👎
Overall Record: 20-29 | -8.76u 🥶
Rizzi came out and said that the RB situation will be a committee approach with Williams, Mims, and Miller.
The Packers are also heavy favorites here and the game script bodes in our favor if the game gets out of hand and the Saints are forced to throw early.
Cold weather tonight will also work against the Saints since they’re used to playing in the dome.
Clock management is another factor late if GB gets ahead which I think they will in this smash spot.
Give me the under!
McManus averages ~8 kicking points in each game, but has hit 12 multiple times this season.
He’s an accurate kicker who should get plenty of opportunities tonight.
MNF Betting Preview: Saints vs. Packers
The New Orleans Saints (5-9) are set to face the Green Bay Packers (10-4) at Lambeau Field for a frosty Monday Night Football clash.
A bettor in NV wagered $26K on the Saints +14 (-110) against the Packers tonight 👀
Potential payout: $49,636.35 🔥
— Caesars Sportsbook & Casino (@CaesarsSports)
9:49 PM • Dec 23, 2024
Kickoff is at 8:15 p.m. ET, and the Packers are hefty 14.5-point favorites.
With the Saints struggling and the Packers cruising, this game could be a one-sided affair, but let's dig deeper to find the best betting angles.
Team Analysis
New Orleans Saints
The Saints' offense is in shambles, missing key players Derek Carr, Alvin Kamara, and Chris Olave to name just a few.
Rookie QB Spencer Rattler showed some promise in relief last week, but the team is averaging a paltry 19 points over their last five games.
Spencer Rattler is making his 4th NFL start today. The Packers will be the 4th playoff team Rattler has started against.
He’s also missing:
Chris Olave, Rashid Shaheed, Alvin Kamara, Taysom Hill, and Bub Means.
— kaj (@kadinjanisch)
7:06 PM • Dec 23, 2024
Without Carr, the Saints' offensive efficiency plummets, and their 21st ranking in EPA per play (-0.027) reflects that.
The Saints' defense isn't terrible, ranking 15th in EPA per play allowed (0.005).
However, they face a daunting task against a potent Packers offense.
The Saints will need to rely on their defense to keep the game within reach.
The Saints are struggling with injuries - severely limiting their offensive options and puts immense pressure on Rattler to perform.
Green Bay Packers
The Packers are firing on all cylinders, with Jordan Love leading an offense that has scored 30+ points in four straight games.
They rank 8th in EPA per play (0.090), and their balanced attack will test the Saints' defense.
Green Bay's defense is a top-10 unit, ranking 8th in DVOA.
Packers Ranks in Total Points Per Play - By Unit
Passing- 5th
Rushing- 4th
Receiving- 8th
Blocking- 7thRun Defense- 12th
Pass Rush- 5th
Pass Coverage- 4thOnly team to rank Top-12 in each grouping
*Total Points is our all-encompassing player value stat*
— SIS Football (@football_sis)
7:16 PM • Dec 23, 2024
They've been stout against weaker opponents, and the Saints' depleted offense should struggle to find success.
The Packers have some question marks in the secondary, with Jaire Alexander and Corey Ballentine questionable.
However, their depth should suffice against a weakened Saints receiving corps.
Betting Insights
The Packers are 14-point favorites, a massive line that reflects the disparity between these teams.
While Green Bay is 3-3 ATS as a double-digit favorite under Matt LaFleur, the Saints' current form makes it hard to back them for just two touchdowns.
The total is set at 44.5, and the Under looks appealing.
The Saints have hit the Under in four of their last five games, and the Packers' defense should stifle New Orleans' offense.
Cold weather could further limit scoring.
The Bottom Line
The Packers are in a different league compared to the Saints, and this game should showcase that.
The Saints' offensive woes and the Packers' strong defense suggest a low-scoring and potentially boring Monday Night game.
Additionally, Green Bay's methodical approach in cold weather games often leads to lower totals.
Christmas Week Slate
We’ve got a busy week ahead - Here are the ones you’ll want to keep an eye on.
Monday, December 23
11:00am
🏆 Coastal Carolina vs UTSA
UTSA -10.5
O/U: 55.5
2:30pm
🏆 NIU vs Fresno State
NIU -3.5
O/U: 39.5
8:15pm
🏈 New Orleans Saints @ Green Bay Packers
GB -14
O/U: 42.5
Tuesday, December 24 (Christmas Eve)
8:00pm
🏆 South Florida vs San José State
SJSU -3.5
O/U: 62.5
Wednesday, December 25 (Christmas Day)
12:00pm
⛹ San Antonio Spurs @ New York Knicks
NY -8.5
O/U: 225.5
1:00pm
🏈 Kansas City Chiefs @ Pittsburgh Steelers
2:30pm
⛹ Minnesota Timberwolves @ Dallas Mavericks
DAL -2.5
O/U: 226.5
4:30pm
🏈 Baltimore Ravens @ Houston Texas
8:00pm
⛹ LA Lakers @ Golden State Warriors
GS -3.5
O/U: 231.5
Thursday, December 26
2:00pm
🏆 Pittsburgh vs Toledo
PITT -6.5
O/U: 51.5
5:30pm
🏆 Rutgers vs Kansas State
KSU -6.5
O/U: 49.5
8:15pm
🏈 Seattle Seahawks @ Chicago Bears
Friday, December 27
12:00pm
🏆 Oklahoma vs Navy
OU -3
O/U: 43.5
3:30pm
🏆 Georgia Tech vs Vanderbilt
GT -3
O/U: 51.5
7:00pm
🏆 Texas Tech vs Arkansas
ARK -1.5
O/U: 53.5
8:00pm
🏆 Syracuse21 vs Washington State
SYR -15.5
O/U: 59.5
10:30pm
🏆 USC vs Texas A&M
TA&M -3
O/U: 51.5
Saturday, December 28
11:00am
🏆 UConn @ North Carolina
UNC -3
O/U: 53.5
12:00pm
🏆 Boston College vs Nebraska
NEB -2.5
O/U: 45.5
1:00pm
🏈 Los Angeles Chargers @ New England Patriots
2:00pm
🏀 Ole Miss17 @ Memphis21
3:30pm
🏆 Iowa State18 vs Miami13
MIA -3
O/U: 55.5
4:00pm
🏀 UCLA18 vs Gonzaga13
4:30pm
🏈 Denver Broncos @ Cincinnati Bengals
5:45pm
🏆 East Carolina vs NC State
NCSU -6
O/U: 58.5
7:30pm
🏆 BYU17 vs Colorado23
COLO -5
O/U: 54.5
8:00pm
🏈 Arizona Cardinals @ Los Angeles Rams
Slip of the Week
CFP X NFL FIRST TD PARLAY 🤯
BANG.
(via @MrZyn27@DKSportsbook)
— br_betting (@br_betting)
10:04 PM • Dec 21, 2024
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