when looking at the kelly criterion i am confused about the bankroll vs the capital
also what is the difference of the probability of winnings (and loses) vs the odds given at the table?
Basically i am trying to make a list of the terms and variables taken into account with the Kelly Criterion system and am confused about describing them and their function.
SO far i have these complied.
probability of winnings p
probability of losing q or (1-p)
bankroll B
kelly # k
bet size b
odds given x
expected winnings (advantage - avgerage amt expect to win) E
variance of winnings V
loss L
percentage of players bankroll f
am i right or am i missing some or have too many?
also what is the difference of the probability of winnings (and loses) vs the odds given at the table?
Basically i am trying to make a list of the terms and variables taken into account with the Kelly Criterion system and am confused about describing them and their function.
SO far i have these complied.
probability of winnings p
probability of losing q or (1-p)
bankroll B
kelly # k
bet size b
odds given x
expected winnings (advantage - avgerage amt expect to win) E
variance of winnings V
loss L
percentage of players bankroll f
am i right or am i missing some or have too many?