Limits to low base on Kelly? What are you bankroll size?

DukeJohn · 03-24-10, 01:58 PM

Originally posted by blix177

I hear the complaint of limits are too low for some books. But if your betting base on Kelly, I am guessing you would be betting 1-2% of your bankroll maybe less. Say limits are $500 that means your bankroll is $50,000k, and some book have limits of $5000k, so that means your bankroll is $500k. I mean how many of u guys have a $500k bankroll. I certainly don't.

The quick answer is not everyone bets the Kelly system of bank roll management. I certainly do not and have run into limits several times. Plus only a few places have $5,000 limits, most do not. So, let's say you bet NHL at a place with a "high" limit of $2000 and you are betting 5%, that is just a $40,000 bankroll and many have that.

Always remember there is no one real way to a profit. So many people tell you what you should do, but very, very few actually do show a profit and those that do seem to bend the "rules" from time to time.

Kemalettin · 03-24-10, 02:10 PM

Kelly is the same with Row of Numbers ?

Ruifgalmeida · 03-24-10, 02:26 PM

Originally posted by Kemalettin

Kelly is the same with Row of Numbers ?

No, not a big fan of both but you can see all over the forum regarding kelly.

HedgeHog · 03-24-10, 04:02 PM

I find a lot of decent Kelly opportunites on prop bets where the limits are indeed low. If you have a 50k bankroll and your Kelly play is 5%, there's no way to get down $2500. Lucky to get a $500 bet on most props.

skrtelfan · 03-25-10, 11:03 AM

Not sure what you're asking, if you can't bet the proper Kelly bet size you just bet as much as you can.

blix177 · 03-25-10, 11:49 AM

I was saying if most people bet on Kelly size, everyone that does has a huge bankroll. I see people complaining limits are too low, at $2k, $3k level, but if your averaging 1-2% of bankroll per bet, that would mean your bankroll is $100k-300k. While I am sure a few has that as their bankroll, I doubt it is near the number of people that complains.

Peeig · 03-25-10, 12:19 PM

You could find a prop with at 25% edge, that has a $100 limit.........with a $500 bankroll, using full kelly stake, you would like to bet more (assuming -110)........so there are lots of situations in which limits inhibit how much you'd like to bet.

skrtelfan · 03-25-10, 06:20 PM

Originally posted by blix177

I was saying if most people bet on Kelly size, everyone that does has a huge bankroll. I see people complaining limits are too low, at $2k, $3k level, but if your averaging 1-2% of bankroll per bet, that would mean your bankroll is $100k-300k. While I am sure a few has that as their bankroll, I doubt it is near the number of people that complains.

It's not uncommon I find props and similar where even betting quarter-kelly I'd be betting 5% of my bankroll if the limits weren't so tiny (these usually have limits of no more than $500, so anyone with a bankroll of over 10k wouldn't be able to bet quarter-Kelly), but you're assuming people are making 2k and 3k bets as their entire position. Consider scalping, middling, etc.

bookie · 03-25-10, 11:23 PM

Originally posted by skrtelfan

It's not uncommon I find props and similar where even betting quarter-kelly I'd be betting 5% of my bankroll if the limits weren't so tiny (these usually have limits of no more than $500, so anyone with a bankroll of over 10k wouldn't be able to bet quarter-Kelly), but you're assuming people are making 2k and 3k bets as their entire position. Consider scalping, middling, etc.

Excellent points. It seems like the original poster was imagining that there are no situations in which the edge could be more than one percent.