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.
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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.Originally posted by blix177
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.
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Kelly is the same with Row of Numbers ?Comment -
No, not a big fan of both but you can see all over the forum regarding kelly.Originally posted by KemalettinComment -
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.Comment -
Not sure what you're asking, if you can't bet the proper Kelly bet size you just bet as much as you can.Comment -
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.Comment -
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.Comment -
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.Originally posted by blix177Comment -
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.Originally posted by skrtelfanComment
