Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?
Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula
https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.
Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?