Kelly Criterion: How to Maximize Your Gains and Minimize Your Losses

If you knew you would win 100% of your bets, you would be a fool not to bet your entire bankroll on each bet. This would maximize your return and, because you knew 100% of your bets would win, you would have 0% risk of going bust.

If you knew you had 0% chance of winning your bets, you would be a fool to bet – ever.

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