Gambling With an Edge cover image

Mail Bag 1/5/2023

Gambling With an Edge

00:00

Video Poker Questions and Answers

If you have a hundred thousand dollar bank roll how much should you bet and why? If this was a coin flip then kelly would tell you to bet 33 percent of your bankroll or $33,000 but because of the variance involved you actually have to divide the 33 by the amount of the payoff so you divide it by seven. Each day that you go back you have to calculate what your new bankroll is and uh you know bet 4.7 percent of the new bankroll  if you won the first day you would bet more the next time and if you lost you bet less. Send them in for our next show - we want to keep rich and active.

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