# brh

1. #### Partly agreeing with Blackjack Avenger Part 2:

by
brh
, 10-28-2012 at 11:27 AM
Originally Posted by brh
Originally Posted by brh
Thanks Gramazeka, I need these results for another thread:

I am interested in the case where the Kelly bettor sets their goal at Infinity.

1. Prob [Bank reaches "b", before loosing "a"](k) = [1-a^(1-2/k)]/[b^(1-2/k) - a^(1-2/k)]

If lim b-> infinity (k<2),
Prob [Inf,a](k) = [1-a^(1-2/k)]/[ 0 - a^(1-2/k) ]

= - [1-a^(1-2/k)]/[ a^(1-2/k) ]

= 1 - a^(2/k-1)
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2. #### Kelly betting on high variance games

by
brh
, 10-28-2012 at 10:59 AM
Originally Posted by brh
Originally Posted by Matt21
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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