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Originally Posted by
Optimus Prime
I've been playing with various betting schemes (in a spreadsheet) which use desired ROR and total BR to calculate the optimal proportional/Kelly bets at various advantages. Such a scheme doesn't include any absolute maximum bet - as long as the advantage keeps climbing, do does your bet.
Is this correct, or, to protect your bankroll, is it necessary to set an absolute maximum bet which will not be exceeded no matter how high the count/advantage is?
I'm not asking about setting a max bet to avoid a conspicuous spread - just asking if there needs to be a mathematical maximum to protect your bankroll.
Short answer: no. But the theory is more or less useless in light of table maximums and the fact that advantage reaches practical limits and constraints due to the nature of the endeavor itself and the fact that one rarely sees true counts that confer advantages much greater than, say, 5%-6%, especially in shoe games.
Don
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