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Author: [Systems & Strategies] Topic: Seeking help with the Kelly Criterion.
ghermz22
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ghermz22
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#1
Posted: 12/23/2012 10:56:16 AM
Alright,  My specific question is this.  If I start with a bankroll of 600 and my winning percentage for 1 bet a day is 54% at the very very very worst.   (I have a 54.7% handicap I guess you would say, I've only capped my golf totals, newer to sports capping).
             *What percentage of my stack do I use on that one pick per day?

-Thank you
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thirdperson
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thirdperson
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#2
Posted: 12/24/2012 11:17:47 AM

2.9% based on formula F =( bp - q ) / b.  F is percentage of bankroll.  b is net odds or 0.90 assumption.  p is probability of winning.  q is probability of losing. 

For more information, try wikipedia and other sources.  Some gamblers use their own "loose" Kelly Criterion based on how confident they feel.

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ghermz22
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ghermz22
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#3
Posted: 12/25/2012 12:42:20 AM
right on, thanks dude.  How do I incorporate juice?
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