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Thread: How to adjust betting ramp for overhead cost with cvcx

  1. #1


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    How to adjust betting ramp for overhead cost with cvcx

    Hi,

    According to this post, one should 'resize' the bet to an 'optimal point' to account for overhead cost (travelling cost etc):

    http://bj21.com/bj_reference/pages/o...skofruin.shtml



    I also read a long time ago somewhere else the derivation of that final conclusion (the pinkish orange box in that webpage). It involves some basic calculus and nothing fancy, but I have no idea where to find it now.


    Anyway, my question is (hopefully Norm you'll see this), which way should I carry this out with cvcx? (1) or (2)?
    (1) ...simplstic but most likely wrong?
    Ignore overhead cost at first. Obtain the cvcx optimal ramp for my bankroll, playing style, desired spread and RoR level, and rules where I play. I will get an hourly ev. To take into account the overhead cost, just multiply the entire ramp by a factor such that the hourly ev becomes 2*overhead-cost.

    (2) While using cvcx, choose that ramp to match the hourly ev to equal to 2*overhead-cost. This might give an RoR not as desired, but there's still the spread size to fudge with so some flexibility still remains.



    Thanks.

  2. #2


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    Hello,

    I'm wondering if this topic is of little practical concern or not......I'd appreciate some advice. Thanks : )

    How do you guys take travelling costs etc into account?

  3. #3


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    The best way is to have expenses so small/bank so large that they barely matter.

    A simple thought:
    Trip EV - Expenses
    This will help you determine if a single trip is worth your time.

    This does not take into consideration multiple trips and ROR.

    I believe the formula is for fixed bets. If you resize bets on losses then if your betting a large fraction of Kelly or expenses are large I imagine your in a very bad place.
    Last edited by blackjack avenger; 04-10-2013 at 01:51 AM.

  4. #4


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    Quote Originally Posted by blackjack avenger View Post
    The best way is to have expenses so small/bank so large that they barely matter.

    A simple thought:
    Trip EV - Expenses
    This will help you determine if a single trip is worth your time.

    This does not take into consideration multiple trips and ROR.

    I believe the formula is for fixed bets. If you resize bets on losses then if your betting a large fraction of Kelly or expenses are large I imagine your in a very bad place.
    yeah, thanks for the reminder, I think you're absolutely right.


    I went from betting at ~1/2 Kelly to 1/4 Kelly a while ago, and no need to say it's harder to go further down.

    I guess my bankroll is just around the awkward place where travelling to play is no longer impossible, but the profitability is still a question.

    At the same time, previously I just slept in my car with a good faith. Now with the amount of cash I don't know how to travel as cheap as I did before :P

  5. #5
    Senior Member bebe's Avatar
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    Quote Originally Posted by Charlie Mosby View Post
    I just slept in my car with a good faith. Now with the amount of cash I don't know how to travel as cheap as I did before :P
    That my friend is called determination,When a person takes these kind of measures I can only hope things work out in there favor

  6. #6


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    Quote Originally Posted by bebe View Post
    That my friend is called determination,When a person takes these kind of measures I can only hope things work out in there favor
    Haha, well said. Thanks.

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