Quote:
Originally Posted by JimGunn
Balla, you wrote a very detailed and thoughtful post about the odds and sensibility of my big live bet. I am going to respond with brevity though- I have to admit that was a pretty reckless wager. I guess I was more curious if the sportsbook would actually take a live bet that big than I was thinking that I needed that extra $28 in my account on a winning night, or at all for that matter. I doubt I will do something like that again.
throwing aside kelly betting and bankroll managment for a bit (unless your a professional gambler), just consider how big a blow 4k would be for you personally and go from there.
Assuming the real odds were 1:200, kelly would give an upper bound of about 30% of your roll. the more common half kelly would say 15%. I think i read that some professionals cap their bets at about 2% of their roll. But if you have a job and your roll is small compared to your income you can stomach a bigger risk of ruin.
in any case, that last fight night was the first ive ever sat and watched from beginning to end. Got some 0.1-0.25u action on every fight based on your picks (just to make watching more interesting) and came up a little over 1.5u.. so much thanks