| Yoav Ravid | v1.1.0Dec 7th 2020 | (+66) Added a post from gwern | ||
| Yoav Ravid | v1.0.0Dec 7th 2020 | (+313) |
the Kelly criterion (or Kelly strategy or Kelly bet), also known as the scientific gambling method, is a formula for bet sizing that leads almost surely to higher wealth compared to any other strategy in the long run (i.e. approaching the limit as the number of bets goes to infinity). (Wikipedia)
see also:Betting
Posts from elsewhere:The Kelly Coin-Flipping Game: Exact Solutions