Re: Kelly Criterion deduced from ROI & Prize Structure.
Typohh,
They don't care about cashing in the actually event. Many people play the events for $T which can be exchanged for $ at like a 95-99% rate.
So I don't think this point,
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The second is that you should factor in that you are not actually winning when you win the satelite, you are winning when you win the satelite AND the make it in the money in the actual event, which lowers the kelly criterion ALOT because the variance is so much higher.
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is very critical.
Sherman
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