15th August 2013, 01:29 AM
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Member
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Join Date: Jan 1970
Posts: 4,421
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Quote:
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Originally Posted by Magister Ludi
Who should not use the Kelly Criterion to size their bets? Even for those who do have an edge, the variance and risk of ruin can be gut-wrenching.
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Which is why I would personally never use Kelly Criterion.
For those backing multiple horses per race, reward bet, is probably the best option out there at present.
For those backing single selections, I'm led to believe there is no advantage. |