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Is someone currently using the Kelly Criterion betting Strategy, does it work for you?
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I heard about Kelly Criterion betting strategy, and I am not sure I understand how it works, so if someone is using it I would want to know how it's work.

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What can you tell me about betting terminology, what are the main t...
What is there to know about value bets, is it some kind of betting ...
15.10.2014, 16:10
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I used to, but now I don't bet that often as before so I don't anymore, but I will try to explain it to you in a few words.

Basically Kelly Criterion strategy is a mathematical formula developed by physicist with named J.L Kelly Jr in 1956.

Is more like a progressive betting system that informs you how much of your bankroll you should bet in order to maximize the growth possibility of your bankroll in the long term.
15.10.2014, 16:17
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milano4ever
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The exact formula of Kelly Criterion betting strategy is this:

f = (bp – q)/b

where, F is the part of present bankroll to be bet
B the ratio between profit and risk on a bet after a win
P the probability of the bet being a winner
and Q is the probability of the bet being lost
 
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