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Kelly Criterion Treatment

The Kelly Criterion method of betting is a successful try to apply mathematical approach in wagering. This system maximizes your income and cancels out the risk of a total failure.
This method was developed by John Larry Kelly, who worked and lived in Texas.
The Kelly Criterion is likely used by card counters as a specific addition to blackjack counting systems actually. Card counters raise their bets by means of Kelly Criterion recommendation when the count is positive for them.
Discussed system presents a math formula which is used to maximize the growth index of serial bets that possess a positive expectation. The Kelly Criterion doesn't provide a player with short-term wins, but maximize a player income by setting the % of bankroll a player must bet at the given stage of game.

The Kelly Criterion Principles

The score of this blackjack betting (and not only) method is the following:

  • The % of bankroll which forms your bet must be equal to the edge in the game you play;
  • You must use Kelly Criterion formula to raise your bets when the blackjack count is positive;
  • The Kelly Criterion minimizes your chances to lose all of your money;
  • This system doesn't help you to win actually - it aids you to achieve max income when you win;
  • The method under consideration works with positive expectation games only and useless for edge casino games.

The Kelly Criterion Drawbacks

As it has already been said - this method usage doesn't increase your blackjack probability of winning at all. The Kelly Criterion just helps not to lose all of your money at once (lengthen your gameplay) and provides with max income when you win.
Plus, the system usage may lead to volatile and highly unpredictable results. As you have 33% chances to lose a ½ of your total bankroll before you manage to double your payroll.
Each blackjack system has its drawbacks as well as strong point. It's totally up to you to choose the most balanced and effective one.

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