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The Kelly criterion and bet comparisons in spread betting
journal contribution
posted on 2023-06-08, 08:08 authored by John HaighThe Kelly strategy, risking a fixed fraction of one's gambling capital each time when faced with a series of comparable favourable bets, is known to be optimal under several criteria. We review this work, interpret it in the context of spread betting and describe its operation with a performance index. Interlocking spread bets on the same sporting event are frequently offered. We suggest ways of investigating which of these bets may be most favourable, and how a gambler might make an overall comparison of the bets from different firms. Examples illustrate these notions.
History
Publication status
- Published
Journal
The StatisticianISSN
0039-0526Publisher
Royal Statistical SocietyExternal DOI
Issue
4Volume
49Page range
531-539ISBN
0039-0526Department affiliated with
- Mathematics Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2012-02-06Usage metrics
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