How the Kelly Criterion Works
The Kelly Criterion helps bettors manage their bankroll by suggesting a percentage of funds to wager based on the odds and the bettor's estimated win probability (edge).
Practical Example:
If you have a 5% edge at odds of 2.00, the Kelly Criterion suggests wagering 5% of your bankroll.
Understanding Fractional Kelly
While "Full Kelly" stake is mathematically optimal for maximizing growth, it can be extremely volatile. A losing streak could wipe out a significant portion of your bankroll.
Professional Advice: Most serious bettors use Half Kelly (0.5) or Quarter Kelly (0.25). This reduces the variance and risk of ruin while still growing the bankroll at a healthy rate.
Frequently Asked Questions
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