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  1. Kelly betting on high variance games

    Quote Originally Posted by brh View Post
    Quote Originally Posted by Matt21 View Post
    I have actually asked a similar question on the old bjinfo but wanted to revisit this as I found some conflicting answers.

    Generally speaking, when betting full Kelly you divide the edge% by the pay-off a winning bet to arrive at the % of your bankroll that you should wager on your bet.

    Does this apply equally regardless whether your pay-off is 1:1, 5:1, 10:1, 50:1 or 100:1? Does this rule of thumb change if you are playing with a high edge (say 30% or 40% as an example).
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