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Kelly betting craps

The Kelly Criterion determines how much of a The BJ Math site used to contain a great collection of papers on Kelly betting, including the original Kelly Bell. John Kelly, who worked for AT&T (), however, the gambling community got wind of it and realized its potential as an optimal betting system in horse racing. Aug 09,  · Las Vegas discussion forum - Kelly Betting Optimization, page 1.

A Kelly Strategy Calculator

You can see from the chart that are are more ways to roll 7 than any other number in craps. Suppose you're horse racing, and you think that 2 of the horses are priced wrong, how much should you bet on each? Percentile X, n bets - final result: Is there more math to consider? The other is that the Kelly formula leads to extreme volatility, and you should underbet to limit the chance of being badly down for unacceptably long stretches. Online Craps Review Topics. It is important to remember the chart as it is used in basic craps strategy.

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Can I get a verification here? Of course, one wouldn't likely recalculate it each time in a real game, just use a common sense Kelly bet size increases or reductions as ongoing circumstances dictate. Thx to those replying. Think of 'Kelly in reverse' or something. For tourists, ploppies etc. Yet they make money consistently hand over fist, presumably due to their infinite bankroll in practical terms , to which Kelly would be inapplicable. Still, even as large as their bankrolls are, you'd think there'd be infrequent occasions where customers, in aggregate, would come close to bringing the house near to 'short term' bankers ruin, due to variance.

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Aug 20, Threads: June 29th, at 8: One of the The Wiz Kelly Betting examples shows: From my Game Comparison Guide, we see the standard deviation of blackjack is 1. If the standard deviation is 1. The portion of bankroll to bet is 0. But it seems to me also that the Kelly optimization is instantaneous, varying with perceived expectation and grubstake at the time. Thus Kelly should theoretically be recalculated every time either bankroll and or expectation changes. Seems common sense to me.

APEppink on Jun 29, Jun 1, Threads: June 30th, at Embrace the Variance Good news: Feb 11, Threads: June 30th, at 2: It's pretty much impossible or impractical at least to update your bets to kelly in real time. Also, you probably should not be betting at full kelly, since you're going to have some wild swings.

It's perfectly fine to under-bet. Not sure what kind of BR you have or what stage you're in. If you're starting out and really want to grow your bankroll but take risk, then bet full kelly, hope you get a nice upswing, then let it smooth out. July 5th, at 6: May 19, Threads: Seems to me, even if Lady Luck had prepared the extremely improbable run of luck that could "ruin" a casino, the casino could take some kind of preventive action in a timely manner to thwart Lady Luck.

The door swung open. 420. I pulled out my cock, already erect and throbbing with wanton desire. had sex with a virgin. Yet this year, its education program, "Respect Yourself, Protect Yourself" is once again aimed at the general population.

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Details

The Kelly Criterion is well-known among gamblers as a way to decide how much to bet when the odds are in your favor. Most only know a simplified version. We will show why that holds, but our main goal is to explain the full version. And to give some numerical tools to play with it. The simple rule goes like this. This is fine for the simple case.

But the simple rule doesn't cover most real world situations. How big a buy-in should you be willing to pay? Suppose you're horse racing, and you think that 2 of the horses are priced wrong, how much should you bet on each? Why do people recommend betting less than the theoretically optimal amount?

The answers to these questions can be complex. When it is finished this tutorial will explain all of those details, and will give you a calculator to do the math with. The calculator exists and is useful, but doesn't yet compute the optimal allocations to bet. However for the case of a single bet with multiple outcomes, this calculator will.

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We will be talking about approximations, so we need a language to do it with. In general we hope that the approximation is simple, and the error is small. So we need an easy way to say how small the error is without getting into the details of what that error is. The standard language for this involves the terms Big-O and little-o. Informally these terms mean "up to the same general size as" and "grows more slowly than" respectively.

The links provide even more precise definitions for those who are interested in the formalities. We won't go there. Suppose that you're a lucky gambler who has found a bet which you come out ahead on that you can play over and over again, and you've decided on an investment strategy which is to bet a fixed fraction of your net worth on the bet each round.

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When it came time to prepare for a live performance, I could not reproduce the sound. The Feedback pedal I had used was suddenly taking volume away from my sound and muffling it. An e-bow could imitate the sound, but this would be way to tame compared to the original sound. I realized this had more to do with the order of the effects pedals in my chain than anything.

The order of my pedals followed conventional wisdom at the time — Start with compression, end with delay with modulation just before it and distortion right after compression. When I was recording the song, however I was adding effects in a constantly changing order, some of them from the recording software. In order to reproduce the sound, conventional wisdom had to be ignored. I wondered if that had been the problem with matching the sound of The Cure in my original post — I had the settings of each effect down, but the assumption was that the order of the pedals would follow convention.

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In order to make my Boss Feedbacker sound more melodic, I had to move it to the beginning of the chain. This is what finally worked: I had to start with the disorderly feedback and try to tame it. For the subtle backdrop of Chorus and Flanger, I used a discontinued Zoom pedal in the middle of the chain, and broke with convention again by adding Compression after it to eliminate any inconsistency of volume that unit may have had with the rest of my effects.

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I still ended with delay. A video of our first live version of the song should be coming up soon. In the meantime, here is the original post on the sound of The Cure: The first question was: Question number two was: Truth be told, Adrian S. Well you can and you just did.

As I am approaching, grimacing diplomatically, Adrian is already unplugging everything, just to start over. Robert Smith sort of turned into a six string bass B. Later on, Robert Smith got a promotional deal with Schecter Guitar Research, who made a custom version of their Schecter Ultra six-string bass just for him and called it the UltraCure. The gouge of the high strings on a six string bass is just thick enough to make the ch0rus and flanger sound fuller.

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