So, I'm not a math guy...
I've got two handicapping methods that I use for MLB. They usually give me
about six plays a day. I'm doing pretty well betting a flat percentage of
my
bankroll but I'm thinking about using the Kelly Criterion (or Half-Kelly)
to
size my bets.
When betting multiple games using the Kelly should I:
1) Calculate the size of my first bet, subtract that bet from my bankroll,
and use that bankroll for my second calculation.
2) Average the odds I'm getting on all of my plays for the day, calculate
my
bet size, and wager that amount on each game.
3) Average the odds I'm getting on all of my plays for the day, calculate
my
bet size, and divide that wager among all of my plays.
For instance, if my bank is $1000, I'm hitting 59%, and I have six plays
should I wager:
1) $261 on game one, $152 on game two, $88 on game three, etc...
2) $129 on each game
3) $21.50 on each game
Help?!
Sidenote: At this point I'm using 3% of my bank as one wager or $30.
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