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Money management strategies help the punter to choose an optimal stake, and even thought Kelly is known to be the best strategy of them all, it is not necessarily true for all types of betting tips.

This article summarizes possible ways to improve Kelly's strategy for different types of betting tips. nueva camiseta real madrid 2012 ,

First, let's emphasize Kelly's strengths and weaknesses:

According to Kelly's, the wager for each outcome is calculated in the following way: w * (p-(1-p)/(odds-1)), where w represents the wealth of the punter and p is the probability of a win. For example, if your wealth = 1000$, p = 50% and odds = 2. 5, then the wager your have to place is equal to 1000$*(0. camiseta real madrid manga larga , 5 ? 0. 5/(2. 5-1))=166$.

If the probability of a win (p) is estimated correctly, then the calculated wager will be optimal in a long run. Equipacion Real Madrid Niños , If, however, it is wrongly estimated, then using Kelly's won't do the trick.

What are the possible ways to improve Kelly's strategy when the probability of a win is incorrect or unknown?.