Re:Are You Trading or Gambling?
by hgjnhikn on Saturday February 27, 2021 @09:29AM
(#26285047)
Bet sizing in poker is not determined by the Kelly criterion, it's determined by maximum expected value with at most a tiny penalty for high risk.
Where you could in theory apply the Kelly criterion is in selecting which stakes to play at. But in practice it seems more chosen through rules of thumb / common sense / feeling than an actual application of the Kelly criterion.
Re:Are You Trading or Gambling?
by Raidion on Sunday February 28, 2021 @08:59AM
(#26293458)
Yes, exactly. Bets in the game are determined if they are plus EV, but what game you sit at is determined by Kelly Criterion (or usually a 20-25 buyin roll depending on the game, your life roll, etc)
Where you could in theory apply the Kelly criterion is in selecting which stakes to play at. But in practice it seems more chosen through rules of thumb / common sense / feeling than an actual application of the Kelly criterion.