TheSnapper's Bank: $1 568,33
TheSnapper's Start Bank: $198,00
Mr. Kelly's Bank: $3 157,81
Mr.Kelly's Start Bank: $20,00
Longshot Larry's Bank: $183,26
Longshot Larry's Start Bank: $100,00
Shannon's Demon: $1 879,20
initial investment: $1 837,98
profit: $41,22
Total profits: $4 632,62
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The half-stake ratchet helped to prevent a run-away disaster this weekend for everyone involved. The stats were not pretty:
TheSnapper,2/7 wins, -$177,76
Mr.Kelly, 4/9 wins, -$-445,94
Longshot Larry, 9/12 wins, -$-27,27
Ouch!
Anyway, this should give you an idea of the kind of losses you will take on poor results as layer. It's kind of like the U-Boat commander in Das Boot, sitting under a depth charge barrage and he mutters "...and now we wait". And that's what we are doing in our betting u-boat. We are waiting for the next big winning streak to arrive, but until then, we can get pounded.
In the meantime, our Kelly staking will reduce our stakes to protect our banks and our ratchet will protect our winnings. Currently, the ratchet guarantees our profits in the following amounts:
TheSnapper:$876,00
Mr.Kelly: $1905,30
Longshot Larry; $106,34
These amounts reflect the portions of these banks that are not calculated in the Kelly Staking. They are outside of the betting bank and have already been removed for investments. It is a good psychological tactic to reduce your betting stress during a bad run. I know that if I quit right now, I will at least walk away with this profit. I can sleep at night knowing that I am guaranteed $2887,64, and that includes unforseeable, but possible, disasters such as Betfair closing, the Royal Bank(rupt) of Scotland collapsing, gambling being banned, etc...because these profits have already been withdrawn from Betfair.