Start Bank: $198,00
Mr. Kelly's Bank: $1261,17 (+ 6205,85% profit)
Mr.Kelly's Start Bank: $20,00
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Well, Mr. Kelly retreated from his high of $1868,01 after losing three in a row. His bets yesterday were:
Runner Stake Odds Liability Result
Forgiving Light $118,60 2,92 $227,71 $118,60
Banksters Bonus $122,81 3,7 $333,16 $122,81
Feeling Peckish $53,96 4 $161,88 -$161,88
Galley Slave $148,36 2,38 $204,74 -$204,74
Theresathingwrong $109,19 3,2 $240,22 -$240,22
I ended in profit of $57,06, winning 4/5 bets.
Here' s the updated chart. Mr. Kelly's explosive growth shows you the "building logarithmic pressure" of Kelly Staking, which builds and builds as the number of bets rises and then BOOM! It explodes in a frenzy, and then retreats angain. The cycle repeats endlessly.
Why does it go this way? The reason is mathematical and is connected with the law of large numbers. Basically, the Kelly Staking keeps you in the game long enough for the law of large numbers to begin to kick in. Eventually, sooner or later, Mr. Kelly will hit a hot streak and his profits will compound, like he did this week. It will happen again and again over time. Notice that the half-Kelly Staker, myself, has much less variance and a more stable growth, although in the long run it is all but certain that Mr. Kelly will be in Florida before me.
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