I'll admit I didn't read this thread word for word, but I do understand the point ronnie is making about the theory behind the Kelly criterion actually serving a greater purpose than the actual application of "supposed" +EV bets using strictly defined mathematical parameters when your own estimation of any hypothetical edge is for all intents and purposes an incalculable variable.

When I consider the potential faults, biases, and improper attributions that undoubtedly exist in my models (and every single handicapper's model in the entire universe for that matter) I find that a calculated edge of 57% will not have any statistically significant predictive power over a calculated edge of 52% or even 62%.