[vpFREE] Re: Pressing your bet

--- In vpFREE@yahoogroups.com, 007 <007@...> wrote:
> That at least makes more sense, since I still don't see how, if
> there's no diminishing marginal utility of money, betting one's entire
> bankroll on any advantage, due to how it maximizes average bankroll,
> doesn't outperform all other possible systems, including the Kelly
> Criterion.

Maximizing the arithmetic mean, which would involve betting it all every chance you get an edge, makes absolutely no sense if you value keeping a bankroll. Your risk of ruin approaches 100% with such a system. On the other hand if you have money to burn and are looking for a way to burn it, this is probably as good as any other, at least you get some value back in comps, until the casino figures out that you've burned all your money.

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