I think we can all agree that betting your entire bankroll is too risky (Risk of Ruin approaching 100%) and not betting or only betting a tiny fraction of your bankroll is too risk averse (given an edge). So obviously somewhere inbetween is a happy medium of bankroll growth with moderate risk. If you want to make up your own "optimal betting fraction", 10% Risk of Ruin?, 1% Risk of Ruin?, whatever, be my guest. Alternately, learn from those who have gone before you and consider the Kelly criterion.
http://en.wikipedia.org/wiki/Risk_of_ruin
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