>noti said: "keep yourself from running out before you die, but most of us don't have monster bankrolls."
>
>I don't mean to argue. I just mean to bring up my own personal circumstance (and maybe the circumstance for a lot of "recreational" players). It is not that I have a "monster bankroll". It is just that I play in such a way that I have my bankroll replenished faster than it is drained. My "gambling bankroll" is a line item in my entertainment budget.
That's one of the problems with the Kelly Criterion, since it assumes
no outside source of income. Going by one's "gut" has its dangers,
too, but most people who lack a sophisticated knowledge of the Kelly
Criterion, including me at least most of my life, have a reasonably
accurate idea of what overbetting means.
Posted by: 007 <007@embarqmail.com>
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