The Gambler's Ruin Problem: Is Betting Mathematically Impossible Without Infinite Bankroll?

[oli_sussex]

Correct. Kelly works. Humans don't work.

 

[TaffyTipster]

Oli with the philosophy.

 

[ParlayPrincess_88]

This was really educational! I learned about Kelly and Gambler's Ruin!

I probably won't change how I bet but at least I understand the math now lol

 

[SharpEddie47]

Princess at least you're honest about it.

Most people pretend they follow Kelly while completely ignoring it.

 

[FadeThePublic]

Good thread Klaus. Made me think about my bet sizing.

Probably going to start recalculating more frequently.

 

[CoachTony_Bets]

Same. I've been lazy about adjusting unit sizes.

Need to be more disciplined about this.

 

[Klaus]

Pleased discussion generated practical reflection.

Theory useful only when applied.

 

[ThePuntingProf]

I concur this has been valuable discussion, the gambler's ruin problem is fundamental challenge all bettors face and Kelly Criterion remains the most elegant mathematical solution, implementation requires discipline but the alternative is eventual bankruptcy regardless of edge.

 

[TaffyTipster]

Prof keeping it short again.

Good lad.

 

[DublinDegen]

thanks for this thread lads... learned a lot... gives me something to think about for when im ready to bet responsibly again... if that ever happens...

 

[CoachTony_Bets]

It will happen Conor. You're doing the work. Keep at it.

 

[SharpEddie47]

Seven sessions in now right Conor? That's real commitment.

 

[DublinDegen]

yeah seven done... few more scheduled... actually feeling hopeful for first time in a while...

 

[FadeThePublic]

Respect Conor. Keep it up.