blackjack avenger
Well-Known Member
It's perhaps not advisable to bet table max, even if one is facing molten lead heat. It can always get hotter. The table max bet may also on its own bring attention. The brazeness may be to much for casino staff to tolerate. However, the point of this thread is thoughts on what effect table max constraints can have on one's bankroll.
A player has used some fraction of Kelly resizing. His bank has grown and his top bet is beyond the table max bet. Should the player place his top bet at lower TCs while keeping the same Kelly fraction?
If the player chooses to place the top bet at lower TCs; thereby lowering spread, he will be raising N0. This will lead to betting larger amounts of money on smaller advantages. This could be very costly. In contrast, if the player chooses to keep the same bet ramp the bank will grow to a more conservative fraction of Kelly. This would cause a lowering of N0. The N0 is lowered because there is less dramatic bet resizing down on losses.
If the player decides to let his bank grow to a more conservative fraction of Kelly at some point the bank is so large that even on large losses there is little resizing bets down. At this point placing top bets at lower TCs have little chance of causing a large drawdown. What is this kelly fraction? Well, 1/4 to 1/8 Kelly resizing comes to mind.:grin:
This is probably why pros have such conservative bankrolls. They are constrained by table max's and still want to use a reasonable betting spread.
A player has used some fraction of Kelly resizing. His bank has grown and his top bet is beyond the table max bet. Should the player place his top bet at lower TCs while keeping the same Kelly fraction?
If the player chooses to place the top bet at lower TCs; thereby lowering spread, he will be raising N0. This will lead to betting larger amounts of money on smaller advantages. This could be very costly. In contrast, if the player chooses to keep the same bet ramp the bank will grow to a more conservative fraction of Kelly. This would cause a lowering of N0. The N0 is lowered because there is less dramatic bet resizing down on losses.
If the player decides to let his bank grow to a more conservative fraction of Kelly at some point the bank is so large that even on large losses there is little resizing bets down. At this point placing top bets at lower TCs have little chance of causing a large drawdown. What is this kelly fraction? Well, 1/4 to 1/8 Kelly resizing comes to mind.:grin:
This is probably why pros have such conservative bankrolls. They are constrained by table max's and still want to use a reasonable betting spread.
, even with a very large bank. One would always want to play with the lowest N0 possible. This holds true especially if winning is your objective. Also, not raising bets still increases EV because there is less resizing; eventually no, resizing bets down on losses.