I disagree with the above two posters. Especially when you are first starting out it is wise to not bet very much in absolute dollar terms until you have had some more practice. Furthermore, if a 12-1 spread would cause you to exceed kelly but a 2-1 spread would not, then the latter is clearly preferred. Does OP really have a $12,000 bankroll? I won't speculate, but if he doesn't then the advice to spread 12:1 could be disastrous were it to be taken to heart.