Posted by Grimy Fellow on July 15, 1997 at 07:53:29: In Reply to: Re: Reasons for Kelly posted by Bisser on July 13, 1997 at 12:30:09:Pete Moss did a better job of answering this (above) than I did.
Let's take the most extreme example: you bet 100% of your stake. Say you win the first bet and you've doubled your stake. You think you're going to get rich this way? Now you bet 100% of your stake again and win again. Ok, now you have 4 times your original stake. Are you going to retire or keep playing? Keep playing? Well, eventually you'll lose everything, unless your luck holds out until you repent and lower your bets or quit playing.
The same principle works against you if you bet 50% of your stake when you have less than a 25% advantage. You can win like crazy for a while, but when the expected losses happen you'll be sorry, my friend. Yes, repent, I say. Repent before it's too late!
:)
Grimy
- Re: Reasons for Kelly Bisser 12:31:25 7/15/97 (1)
- Re: Reasons for Kelly Pete Moss 13:39:57 7/15/97 (0)