ContentHow To Use The Kelly Criterion In BettingLabouchere Betting SystemThe Massive Insight I Gained From A Simple Money EquationWant To Make Money On Sports But Don’t Know Anything ?Horse Racing Betting Strategies
If your life savings are $50,000, and someone offers you an even odds bet but with a 70 % chance of winning, you get optimal growth by wagering $20,000. However, that assumes you’ll get a large number of similar offers so that you can make your losses back later if you get unlucky now. It’s well worth implementing and testing out the Kelly Criterion. It’s super simple to code up in a Jupyter Notebook so that you get to enter an amount to bet each time. […]