### Example: Coeur Mining

Step 1: Define **Stake**: $1.00

Step 4: Define **Decimal Odds of Winning**: 1 + Odds of Winning

`101 Wins out of 108 Total Trades, or 7/101 (.069) = 1.07 (1 + Odds of Winning)`

Step 4: Define **Decimal Odds of Losing**: 1 + Odds of Losing

`7 Losses out of 108 Total Trades, or 101/7 (14.43) = 15.43 (1 + Odds of Losing)`

Step 2: Calculate **Probability of Winning**: 1 / Decimal Odds of Winning

`1 / 1.07 = .93 (Probability of Winning)`

Step 3: Calculate **Probability of Losing**: 1 / Decimal Odds of Losing

`1/15.43 = .06 (Probability of Losing)`

Step 5: Define **Payout**: Stake * Decimal Odds of Winning

`$1 * 1.07 = $1.07`

Step 6: Calculate **Full Kelly Criterion**: (((Payout * Probability of Winning) – Probability of Losing) / Payout) * 100

`(((((1.07 * .93) - .06) / 1.07)) * 100) = 87%`

Step 7: Calculate **8th Kelly Criterion**: Full Kelly Criterion / 8;

`.87/8 = .11 (11%)`

#### Conclusion

One is directed to stake 11% of one’s account on Coeur Mining in an 8th Kelly Bet or 87% in a Full Kelly Bet.

##### Notes

Whether or not a bet is taken is determined by our Value Betting Engine.