moo321 said:
I think I bet a total of twice my max bet if I was playing only one hand. So 50% of max bet on 4 spots.
Twice ur max bet playing one hand?
But 50% of max bet for 4 hands might not be too bad.
I'd just like to say that, fundamentally, the co-variance factors are applied to your bet whether max or not. Which, in turn is probably *78% of ur advantage*bankroll if Kelly and playing just one hand. Or half that if half-Kelly etc.
In turn, the factors to be applied would be the co-variance of x hands*ur edge*ur bankroll.
Not that there's anything wrong with the %'s suggested but they appear to be a percentage of original bet per hand*number of hands played.
So, say u have a $10K roll and are betting to a 1% advantage. Your Kelly bet would be say $78. If 2 hands, it would be .57*.01*10K*2 hands=$114 total bet. If 3, .45*.01*10K*3 hands=$135 total bet. If 4, .37*.01*10K*4 hands=$148.
And since .47*$78*4=$13=$147, it's fine to to quote that % as a percentage of original amount bet.
So, while the co-variance factor is .37 for 4 hands, it happens to work out to
47% of original bet*4 hands.
Guess all I'm saying, if ur bet happens to be too much in the first place, the effect will be exaggerated when spreading using the % to original bet*number of hands formula.