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As mentioned earlier, the Kelly Criterion is a mathematical formula that helps determine the optimal size of your bets based on your perceived edge. Implementing the Kelly Criterion prevents over-betting, minimizing the risk of substantial losses while maximizing the growth of your bankroll. Kayo Sports Kayo Sports Charges top-level security of transactions Rugby union, cricket, motor racing and basketball are among the most popular sports to bet on. Ladbrokes and Neds are well-established Australian betting sites, while there are also newer ones like WeBet which was launched by veteran bookmaker Garry Clarke and launched in 2017. Furthermore, hundreds of prop bets can also be found at overseas betting platforms.