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Kelly calculator questions
Using the calculator, i plug in $5000 bankroll,3% edge,-110 odds and 1000 consecutive series using kelly set at 1.
Bankroll grows to $13540. I change the odds to -105 and the bankroll grows to $12858. Why is the bankroll smaller at -105 than -110? I thought less juice would make -105 more profitable. I'm missing something.
Thanks!
If you left it at 3% edge, then you would have a lower win % @ -105 and therefore a lower amount wager. I think what you need to do is to keep the win % the same instead of the edge to get what you are looking for.
Joe.
Yup that is why people get in trouble with Kelly and favorites when their edge isn't real and why most people don't bet full Kelly. Leave your bankroll at 5000 and your edge at 3% and change the series to 1 bet and then. Plug in -110, -200, -300 and see how he bet size goes up dramatically.
Dont use the Kelly use the Brockoliptus
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