> Hi Don,

> A two part question.

> Does NO consider fixed bets or optimal resizing bets?

N0 can be applied to any form of wagering; you just have to stipulate your terms. For all of my Chapter 10 charts, the bets are fixed, and the N0s that are provided assume such fixed-bet wagering.

> From an article by Brett Harris:

> For a given ratio of max bet to min bet, a spread can
> be found which maximises the log growth of the
> bankroll, this corresponds to the spread which
> minimises the ratio of VAR/EV^2=NO for the entire
> system, with the growth rate given by G = 1 +
> 1/(2*NO).

> I don't quite follow the second equation:
> G = 1+1/(2*N0)

> Is this the growth rate when betting optimally
> (resizing)?

Yes. I believe that all of Brett's studies were done with the assumption of optimal Kelly wagering.

> Can you give an example using the formula with a NO of
> 14,000?

Just plug in the number: Growth rate (logarithmic) is
1 + 1/28,000 = 1.0000357.

But, we really can't relate to such a number. That's why SCORE is easier to follow.

Don