The success for the Kelly Criterion, or even the 1/2 or 1/4 Kelly is based on knowing the REAL odds of a horse winning [impossible], so it's a bit of a smoke and mirrors logic ****** and not suited to horse racing at all so don't be sucked in. Originally it was designed for the stock market I think, but I'm not 100% sure.

Anything by 'twonix' is worthwhile, as If I remember correctly he is a pro. punter [at least very serious] as well as a computer software programmer.