25th March 2007, 03:57 PM
|
|
Member
|
|
Join Date: Sep 2006
Posts: 1,070
|
|
Quote:
|
Originally Posted by crash
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.
|
I'm not so sure that it's not suitable for horse racing but you need to be absolutely on top of your pricing, so perhaps it was not a great suggestion. It's not for the beginner. It's a method of discovering the optimum bet size to ensure maximum long term growth, and as such isn't really a staking plan. As you can see it's quite controversial. Look elsewhere - forget I mentioned it.
It's origins were in an academic paper about the telephone system from memory.
__________________
Pixie "It's worth remembering that profit isn't profit until it's spent off the racecourse." -- Crash
|