% of bankroll with Kelly

[cschaps]

I am starting to understand how Kelly works now and really like the strategy. The one part I am not clear on is how the % of bankroll calculation works when you have multiple positive edge bets at the same time.

Starting Bankroll = $10,000

Bet 1 = 4.5% of bankroll which would be $450.

New bankroll balance = $9550

Bet 2 = 4.5% of bankroll

Since I won't know the outcome of Bet 1 before Bet 2 begins do I wager 4.5% of 10,000 on bet 2 or 4.5% of 9550 on bet 2?

My next question is after 1 day of betting my bankroll falls from $10,000 to $9500. For the next day of wagers, do I calculate my wagers as a percentage of $9500 or still from my initial bankroll of $10,000 for my positive edge opportunities?

[Sinister Cat]

1. Use Ganchrow's calculator to determine your wagers for simultaneous bets: http://www.sbrforum.com/Betting+Tool...alculator.aspx

2. Use $9500.

[LT Profits]

1. Use Ganchrow's calculator to determine your wagers for simultaneous bets: http://www.sbrforum.com/Betting+Tool...alculator.aspx

2. Use $9500.

Actually, since he probably knows beforehand that the second game will start before the first game ends, he should use $10,000. He simply needs to change the number of events from 1 to 2 and bet both plays at Kelly's recommended amounts at the same time before the first game. He should also click the "2" tab to see if a small parlay is also in order.

[cschaps]

Thanks for the help, guys!

[Sinister Cat]

Actually, since he probably knows beforehand that the second game will start before the first game ends, he should use $10,000. He simply needs to change the number of events from 1 to 2 and bet both plays at Kelly's recommended amounts at the same time before the first game. He should also click the "2" tab to see if a small parlay is also in order.

I understood games 1 & 2 to both be on the first day... that is, that the $9500 would be the result after both games were decided, and he's firing up the calculator for a second set of events...

[LT Profits]

Sinister Cat,

I'm sorry, I totally missed his last paragraph where he said one day was in the books. In that case , he should obviously use 9500.

Sorry.

[betlikeme]

i said bet until you account go down 20% or up. then change it

example 100 bet 3% it be $3.00, bet until your account 120 dollar then bet $3.60 the your next 20% would be 144