Have pretty much been flat betting so far, but decided to try to apply Kelly in the future. Looked around at a couple of bets and Kelly just seems so incredibly aggressive. For example, with an example roll of $50,000 and a bet that pays 1.57 on a 1.52 shot, Kelly tells me to bet $1,900, or ~4% of my roll. 1.57 on a 1.52 shot doesn't even feel like that big of an edge! Does anyone here use full Kelly? I know theres half and quarter Kelly, but doesn't using half or quarter Kelly kinda defeat the whole purpose of a mathemetically optimized bet sizing strategy?
Just wanted input from people ballsy enough to employ this, because as I said, $1,900 on a bankroll of that size feels pretty huge...