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#1
12-10-2005, 09:33 AM
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Re: Bankroll considerations based upon estimated edge and Kelly criterion?
[ QUOTE ]
[ QUOTE ] I'm not sure what you mean by "edge". If you are looking for a percentage edge on the money wagered as I think people use in blackjack, that really is not a standard way of thinking about win rates in holdem. Much more common is to simply consider expectation (win rate) in terms of dollars (or bets) won per hour for live play. For online play, bets won per 100 hands is the standard. [/ QUOTE ] Just because it isn't the standard way of thinking about it doesn't mean it isn't a useful way of thinking about it. Barry G has some interesting discussion of percentage edge in his book. He talks about 1 BB per hour in terms of getting around 33bb worth of action per hour and having a 3% edge. [/ QUOTE ] It's amazing- I was thinking about this when I woke up this morning, came to make a post, and see the topic under consideration. Assuming: A 3% advantage (1bb/33 big bets in action per hour) 5 played hands an hour (30 hands * 0.2 for a tight player including some free looks in the big blind) And the Kelly criteria gives: big bets per played hand = (33/6) =6.6 Optimum bankroll for fastest bankroll growth= 6.6/0.03=220 bb (This assumes a bankroll resizing between hands) Does anyone see any flaws in the argument? I may try a quick OIC based on this criteria. To the OP: blackjack has a huge bankroll requirement because of the tiny edge- this is one huge advantage of poker if you get in a good game. 
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#2
12-10-2005, 10:14 AM
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Re: Bankroll considerations based upon estimated edge and Kelly criterion?
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(This assumes a bankroll resizing between hands) Does anyone see any flaws in the argument? I may try a quick OIC based on this criteria. [/ QUOTE ] Practically speaking, any bankroll that can be "resized" indefinitely doesn't need to worry about kelly betting. Wouldn't it be more correct to say that the betting is resized so that each bb is a 1/220th of the bankroll?
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#3
12-10-2005, 05:54 PM
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Re: Bankroll considerations based upon estimated edge and Kelly criterion?
[ QUOTE ]
[ QUOTE ] (This assumes a bankroll resizing between hands) Does anyone see any flaws in the argument? I may try a quick OIC based on this criteria. [/ QUOTE ] Practically speaking, any bankroll that can be "resized" indefinitely doesn't need to worry about kelly betting. Wouldn't it be more correct to say that the betting is resized so that each bb is a 1/220th of the bankroll? [/ QUOTE ] Yep, that is what I was trying to say. Just got my words twisted around a little when writing the post.
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