2 questions:
Thanks.
- I understand that if your advantage is 2%, you should be betting 2% of your bankroll for optimal kelly betting for a 13.5% RoR. Or 0.7 of that, or 0.5 of that, or whatever your "kelly criteria" you want to play with is. But that assumes you're betting $0 at any advantage <0%. So how would you estimate your optimal bet if you're playing some -1% EV hands and -1.5% EV hands???
- Does variance have a factor in your optimal bet? Or does variance only affect that "13.5% RoR" number?
Thanks.