Post
Topic
Board Service Announcements (Altcoins)
Re: Just-Dice.com : Invest in 1% House Edge Dice Game
by
ranlo
on 18/06/2014, 17:06:05 UTC
There was a pretty lengthy debate a after max winning was reduced to 0.25% of bankroll (i.e. quarter Kelly) and they increased up to 0.5% (half Kelly). It seems that some do want it back at full Kelly, but there wasn't a clear way of how to implement it in a way that everyone thought was fair. Some wanted two pools: one pool for small bets less half kelly and and another pool for bets greater than half kelly. This way people that only wanted to risk 1/2 Kelly would only do that, while others would be free to risk more. Doog thought such a set up was unfair to the people who wanted to invest more. They were taking the increase in risk/variance for the site while everyone was benefiting. The counter was that this system would basically limit losses to what a person was comfortable with per bet. people in the 0.5% pool would never loose more than 0.5% per bet.

//Moar here

When you use the word "Kelly" here, is that just meaning 1%, or is there some other meaning for the word?