lordcole
Member
- Messages
- 302
It's been said that to win in (any form of) gambling, anyone needs a sound money management strategy. While researching on horse racing in general, I came across the term 'optimal betting' which is based on a mathematical principle called the Kelly Criterion.
The recommendation here is that you should bet a percentage of your bankroll, based on your edge over the game. Your Edge (E)=W-L/$odds where, W= percentage of horses that win the race (your win%), L=percentage of horses that do not win the race and $odds is the average win payout based on $1.
The recommendation here is that you should bet a percentage of your bankroll, based on your edge over the game. Your Edge (E)=W-L/$odds where, W= percentage of horses that win the race (your win%), L=percentage of horses that do not win the race and $odds is the average win payout based on $1.