Optimal betting amount - Sports Betting - SportsBetting Strategy and Forum

Two Plus Two Forums Sports and Games Sports Betting

Optimal betting amount

Post Reply Subscribe

...

Page 1 of 2

1 2

Page 1 of 2

1 2

08-03-2010 , 11:05 PM

CeilteachBuddha

newbie

Join Date: Apr 2010 Posts: 19

This is a question for the statistians. assume a 1000 Point betting bank. what is the optimal number of points to wager on a 7/1 bet where i have a 20% roi? I dont have any more info such as standard deviation so what would be the best guesstimate?

Quote

08-03-2010 , 11:36 PM

ImStillBen

banned

Join Date: Feb 2007 Posts: 1,790

28.57142857

Quote

08-04-2010 , 12:54 AM

wiper

still catching up

Join Date: Oct 2005 Posts: 42,642

google 'kelly criterion'...i'd figure it out for you, but i'm playing (poorly) pokerz right now.

Quote

08-04-2010 , 01:59 AM

ImStillBen

banned

Join Date: Feb 2007 Posts: 1,790

Quote:

Originally Posted by wiper

google 'kelly criterion'...i'd figure it out for you, but i'm playing (poorly) pokerz right now.

Pretty good post.

Quote

08-04-2010 , 04:33 AM

That Foreign Guy

old hand

Join Date: Nov 2005 Posts: 1,985

Quote:

Originally Posted by wiper

google 'kelly criterion'...i'd figure it out for you, but i'm not your freaking mother

FYP.

But yeah spend a couple hours reading about the Kelly criterion and you'll know all you need to know about bet sizing.

Quote

08-04-2010 , 05:44 AM

OreosAndMilk

veteran

Join Date: Apr 2008 Posts: 2,136

I got 29 but Idk if this is right.

Quote

08-04-2010 , 07:24 AM

calm

banned

Join Date: Jul 2006 Posts: 2,087

Not enough info. What are you trying to maximize?
/nit

Quote

08-04-2010 , 07:27 AM

Thremp

banned

Join Date: Nov 2005 Posts: 36,452

Wax people via population density/sq mile.

Quote

08-04-2010 , 10:23 AM

Peeig

adept

Join Date: Jul 2006 Posts: 894

Go arr in u sissy!!!!

Quote

08-06-2010 , 03:40 PM

#10

gdaylinz

centurion

Join Date: Jul 2009 Posts: 162

Quote:

Originally Posted by ImStillBen

28.57142857

Can you show the math?

Quote

08-06-2010 , 05:58 PM

#11

CeilteachBuddha

newbie

Join Date: Apr 2010 Posts: 19

Quote:

Originally Posted by gdaylinz

Can you show the math?

There are calculators. the more i read into it the more i realise half kelly is the optimal bet.

Quote

08-07-2010 , 12:38 AM

#12

gdaylinz

centurion

Join Date: Jul 2009 Posts: 162

Quote:

Originally Posted by CeilteachBuddha

There are calculators. the more i read into it the more i realise half kelly is the optimal bet.

Found one
http://www.albionresearch.com/kelly/
thanks.

Quote

08-07-2010 , 05:27 AM

#13

OreosAndMilk

veteran

Join Date: Apr 2008 Posts: 2,136

Quote:

Originally Posted by CeilteachBuddha

There are calculators. the more i read into it the more i realise half kelly is the optimal bet.

I would do some more reading if I were you

Quote

08-07-2010 , 10:28 AM

#14

Peeig

adept

Join Date: Jul 2006 Posts: 894

Quote:

Originally Posted by CeilteachBuddha

There are calculators. the more i read into it the more i realise half kelly is the optimal bet.

I am impressed you are actually reading into it..............most people come in here

- Ask a nub question (which they clearly didn't investigate)
- Get flamed
- Yell at everyone for being unhelpful
- Vow they will never post again (or go to another "more helpful" forum, as if anyone gives a ****)

but you different.....you actually looked eet up......vnh sir

Quote

08-07-2010 , 11:15 AM

#15

slinky1

grinder

Join Date: Oct 2009 Posts: 673

probably not that good of a link but look for something similar:

http://www.youtube.com/watch?v=IyATmCJf4fc

Quote

08-07-2010 , 11:19 AM

#16

Thremp

banned

Join Date: Nov 2005 Posts: 36,452

****ing pseudo expert.

Quote

08-07-2010 , 11:53 PM

#17

timotinbowen

adept

Join Date: Jan 2009 Posts: 977

Quote:

Originally Posted by CeilteachBuddha

There are calculators. the more i read into it the more i realise half kelly is the optimal bet.

wat

Quote

08-08-2010 , 05:04 AM

#18

MyTurn2Raise

Drug Free MVP

Join Date: Jun 2005 Posts: 40,622

Quote:

Originally Posted by Thremp

****ing pseudo expert.

his book is going to give away your ricebowl

Quote

08-08-2010 , 11:59 PM

#19

kdog

Pooh-Bah

Join Date: Sep 2002 Posts: 3,866

Quote:

Originally Posted by MyTurn2Raise

his book is going to give away your ricebowl

Hilarious that a guy who has barked at others on multiple boards over the years for giving away information is now going to write a book. Be interesting to see if he talks about multi accounting.

Quote

08-09-2010 , 12:09 AM

#20

Johnny_B

grinder

Join Date: Feb 2009 Posts: 626

Quote:

Originally Posted by kdog

Hilarious that a guy who has barked at others on multiple boards over the years for giving away information is now going to write a book. Be interesting to see if he talks about multi accounting.

Justin7/daringly has? Never saw that.

Quote

08-09-2010 , 12:10 AM

#21

ImStillBen

banned

Join Date: Feb 2007 Posts: 1,790

Quote:

Originally Posted by kdog

Be interesting to see if he talks about multi accounting.

He claims he's never done it.

Quote

08-09-2010 , 12:12 AM

#22

Johnny_B

grinder

Join Date: Feb 2009 Posts: 626

Quote:

Originally Posted by ImStillBen

He claims he's never done it.

I don't believe that for a second.

Quote

08-09-2010 , 12:31 AM

#23

hedgie43

old hand

Join Date: Sep 2006 Posts: 1,308

Quote:

Originally Posted by Johnny_B

Justin7/daringly has? Never saw that.

You've never seen him say that the topic should be discussed via PM and not in a public forum? He's right, of course. It's just disgusting that he's writing a book after say that.

Quote

08-09-2010 , 12:36 AM

#24

Johnny_B

grinder

Join Date: Feb 2009 Posts: 626

Quote:

Originally Posted by hedgie43

You've never seen him say that the topic should be discussed via PM and not in a public forum? He's right, of course. It's just disgusting that he's writing a book after say that.

Hmmm, guess I never noticed.

Quote

08-09-2010 , 01:02 AM

#25

Whippit

centurion

Join Date: Apr 2010 Posts: 127

Quote:

Originally Posted by That Foreign Guy

Quote:

Originally Posted by wiper

google 'kelly criterion'...i'd figure it out for you, but i'm teabagging your mother right now.

FYP.

FYFYP

Quote

Page 1 of 2

First

1 2

Last

Post Reply Subscribe

...

Page 1 of 2

First

1 2

Last