Just a comment: The Kelly Criterion is one "prescribed standard".
---In vpFREE@yahoogroups.com, <harry.porter@...> wrote:
I think this is one of Bob's best articles -- it frames the somewhat nebulous concept of "bankroll" in real terms that give it greater substance.
He fleshes out aspects that require that a player make some judgement calls about their financial circumstances in order to realistically assess one's bankroll, and at the same times notes how practical limitations come in to play in imposing limits on the realistic application of such a bankroll figure.
I would have liked Bob to direct state (rather than just alluding to) that the bankroll concept, while based on absolute statistics, is best applied to one's play as a general acid test of play appropriateness, rather than as precise play measure. Among other things, determinants such as one's ROR "comfort zone" is strictly a gut call -- there's no prescribed standard.
All in all, I think Bob knocked this one out of the park.
He fleshes out aspects that require that a player make some judgement calls about their financial circumstances in order to realistically assess one's bankroll, and at the same times notes how practical limitations come in to play in imposing limits on the realistic application of such a bankroll figure.
I would have liked Bob to direct state (rather than just alluding to) that the bankroll concept, while based on absolute statistics, is best applied to one's play as a general acid test of play appropriateness, rather than as precise play measure. Among other things, determinants such as one's ROR "comfort zone" is strictly a gut call -- there's no prescribed standard.
All in all, I think Bob knocked this one out of the park.
---In vpFREE@yahoogroups.com, <vpfree3355@...> wrote:Bob Dancer's LVA 26 NOV 2013
Bankroll Misgivings
http://www.lasvegasadvisor.com/bob_dancer/2013/1126.cfm
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