the formula is (house edge / bet variance)
house edge = 0,01
variance depends on bet type, with standard 2x (0,495 chance to win) bets you have variance = 1
so thats where the 1% as ideal number for max win comes from, now not all bets are made as standard 2x (the lowest variance bets) so depending on what percentage of bets are made with higher variance, the more we should lower the optimal max win number.
TLDR: optimal max win for just dice is not 1% but <1%
Wouldnt kelly be 0.010101 period then? I mean 0.01 / (2*0.495) = 0.010101010...
Youre right... but this max win on changed chance has to be changed automatically to still meet kelly. Thats something hopefully will be set up for obvious reasons.
But what i mean is... lets assume all bets are 50%. Kelly 1% would only be the optimum for an investor when a player plays to full max profit. But most of the bids are way way lower than the amount needed for max profit. So the risks that 1% involves are never met for the single investor. He could easily use 10x kelly and still remain way under the 1% of his personal investment used in each bet since only a small portion of the house is used in each bet. The individual investor would have to set a way higher kelly to rally maximize his profits. Though of course he has to hope that its not often happening that someone really plays 1% max profit of the house since then 10% of his investment would be involved. Which is a high risk. I mean there should be a sweat spot for the real kelly value for an individual investor. And thats not 1% kelly. Its higher. I guess im not smart enough for calculating...