Suppose I am given 200-1 odds and I have a 1.00% chance to win.
What % of my bankroll should I bet on each wager?
I looked at the Kelley calculator, but I've never done that before and I'm not sure I'm doing it right.
It appears to say 0.505%. But is that right? Sounds like too much since I'd go broke after 200.
What % of my bankroll should I bet on each wager?
I looked at the Kelley calculator, but I've never done that before and I'm not sure I'm doing it right.
It appears to say 0.505%. But is that right? Sounds like too much since I'd go broke after 200.