By Stefan Hollos,Richard Hollos
paper titled a brand new Interpretation of knowledge cost. within the paper
he attracts an analogy among the results of a playing video game and the
transmission of symbols over a communications channel. For a positive
expectation online game, Kelly confirmed making a bet procedure in accordance with a fixed
fraction of the bankroll could make the bankroll develop at an exponential
rate ultimately. The exponential progress price accordingly is
directly analogous to the speed of data transmission via a
This e-book examines the Kelly procedure intimately. functions of the
Kelly method in either playing and making an investment are thought of. Python
code for calculating the Kelly fractions for either a unmarried stock
investment and an funding in shares at the same time is
Included is an introductory overview bankruptcy at the chance theory
needed to research playing platforms generally. there's additionally a chapter
on a few of the traditionally used playing structures akin to the
This booklet can be worthy for somebody drawn to an excellent mathematical
introduction to playing structures often, and the Kelly procedure in
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Additional info for Bet Smart: The Kelly System for Gambling and Investing
Bet Smart: The Kelly System for Gambling and Investing by Stefan Hollos,Richard Hollos