Re: Your chance is p - how much would you bet ?
Negative amount tell you : "dont play", and value tell you "how bad is this game", try this for this games with probability of wining one "hand":
-roulette (not that bad)
-blackjack (shuffling after every hand, basic strategy charts, p is aroung 49.3% here or even less, I dont know)
-keno or some other stupid casino games
Results are interesting... Kely formula is widely used (as I heard , I dont know much in this field) in sport betting (horse racing for example), some system used 1/2Kelly or even 1/3Kelly. I dont know anything about its value for real world bankroll management, just read some articles in gambling webpages. Its interesting to see that you should never go broke taking bet using Kelly formula, but it may require to take bets for 0.0001$ when only 0.007$ left...
Best wishes
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