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Re:Kelly Criterion by WJW on Friday April 16, 2021 @12:26PM (#26835903)
It's always exactly 60%, no matter how many heads you have already had. That is pretty much by definition, since the problem states that the chances of heads are 60%.

In fact, in the real world getting an unlikely string of heads (or tails, or sixes, or whatever) outside of a casino setting probably means that the coin/dice/whatever are unfairly loaded and you should adjust your expectation for the next coin toss even further towards heads.

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