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- Aug 10, 2022
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Kelly bets are essential for anyone looking to make a profit from gambling. The Kelly Criterion is a mathematical formula that determines the optimal size of a bet, based on the odds of the bet and the expected return. By using the Kelly Criterion, gamblers can ensure that they are betting enough to maximise their profits, while minimising their risk of ruin.
en.wikipedia.org
For example, if a gambler has a 50% chance of winning a bet with odds of 2-to-1, the Kelly Criterion would tell them to bet 10% of their bankroll. This may seem like a small amount, but over time it can add up to significant profits. A gambler who does not use the Kelly Criterion may end up betting too much and losing everything. The Kelly Criterion is not easy to understand, but for serious gamblers it is an essential tool for ensuring long-term profits.
Kelly criterion - Wikipedia
For example, if a gambler has a 50% chance of winning a bet with odds of 2-to-1, the Kelly Criterion would tell them to bet 10% of their bankroll. This may seem like a small amount, but over time it can add up to significant profits. A gambler who does not use the Kelly Criterion may end up betting too much and losing everything. The Kelly Criterion is not easy to understand, but for serious gamblers it is an essential tool for ensuring long-term profits.
