Buy-in Question

[DealornoDeal]

I am new to counting, but i think i read if you are betting full Kelly then your Max Bet is 1% of your Bankroll. So if your BR is $5,000, your max bet is $50. So, does that mean you would sit down at a table and buy in with $5,000? Or do you buy in with less but still use $50 as a max bet?

Isn't that strange buying in for so much when every person next to you has bought in for like $50-$100?

 

[Grisly Dreams]

I don't think it's necessary to buy in with your entire bankroll. It can be done in stages.

 

[WRBJ]

Buy in with, i think the ideal situation was 1/4 of your bankroll, then pull out more when you need to.

If you still think that is too much then just buy in for less. It is only 50$ a hand, and that is max betting, so you can buy in for 100$ and just buy in for more whenever you need to.

 

[johndoe]

1/4 of bankroll?! That sounds awfully high. What if the count tanks and you want to leave? Seems silly (and suspicious) to then color in all those chips after a few minutes. It's also not a good idea to have anyone know you're carrying such large amounts of cash (or chips).

I'd buy in for whatever "typical" people buy in for at your casino. In most places, this is *maybe* ONE max bet, perhaps less. You can always get more out of your pocket.

 

[Dyepaintball12]

Wouldn't buying in with one max bet be a little also? You may have to keep buying in for more and more if you're losing. Is that normal?

 

[johndoe]

Sure! Gamblers don't expect to lose, so begrudgingly going into your pocket during a losing streak looks pretty natural.

 

[UK-21]

I am new to counting, but i think i read if you are betting full Kelly then your Max Bet is 1% of your Bankroll. So if your BR is $5,000, your max bet is $50. So, does that mean you would sit down at a table and buy in with $5,000? Or do you buy in with less but still use $50 as a max bet?

Isn't that strange buying in for so much when every person next to you has bought in for like $50-$100?

I think you misunderstand the Kelly critereon. I think I'm right in saying that his theory was that you should never bet more than your edge on any game -ie, if you have a 1% advantage you should bet 1% of your bankroll, if 5% advantage 5% and so on. But with BJ, the majority of the time, 75%+, you'll be playing at a disadvantage, so Kelly's theory is that you shouldn't be playing at all.