Quote:
Originally Posted by CEW
Hi Richard & Mitch:
To me, Huey Mahl's article in the back of Follow Up #2 is tops, where he mathematically establishes, in a simple way, when to pass a race based on the individual player's win percent and average mutuel. And he explains the Kelly Criterion very nicely. I believe it was the single most important article out of everything Howard put out. Anyone else reading this may want to check it out.
Mitch - I play 10% of bank and always dutch two horses, sometimes three if I can get about a 75 cent return. I agree that Kelly is better than no plan at all. Way better, really. I used to think that I should try applying it to the stock market, but the market is way different in that you are pretty much all in most of the time.
I carry a copy of the 2 horse dutch chart for quick reference on the payoff (to know when to pass) and also the other quick reference chart to split the horses with the correct percentage of the bet on each.
I love this part of the game....especially when my two horses control a race and come to the wire ahead of the rest!
Best regards,
Chuck
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Hello Chuck
Recently I posted a winning ticket, where I bet 2 horses to win
My bankroll was $50 I bet $5 per horse. The odds on each horse
were 3.10 and 3.30 to one
A poster criticized me for making the bet
I want to see if you can tell me if the bet was okay
Thanks
Bill