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Q on kelly betting, poker and tournaments
I'm going to re-post this here hoping some math geek types find it...
Hypothetical situation: A player starts with $100,000 bankroll. This is for poker only, expenses are paid separately from another account. This player plays both cash and tournaments. They are definitely a winner at both, but their style is one of high variance (i.e. LAG). Their style undoubtedly is suited best to tournaments. They have a tendency to play higher than they should, but not to a ridiculous degree (i.e. They won't be in the "big game" at the bellagio). They also tend to satellite into tournaments, where their style is once again best suited. I'm interested if the concept of Kelly betting, as described in "blackbelt in blackjack," has any applicability to poker, and if so how. I would also like to hear suggestions on how you might best manage your bankroll in this situation. What limits would you play? (Limit or NLHE). What tournaments would you enter? How many sats would you enter and lose before you gave up? What size tourneys would you enter directly without bothering with sats? How big of a one day loss would you tolerate (ignore things like tilt). What else should be considered? I'm pretty mathematically inclined and very familiar with books those on these forums have likely read, however i don't know it all, and I'm not sure about this hypothetical situation. Also, if there are further références i may not have read please do tell. Thanks Al |
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