FoundationNumeric answer
How much to bet on an edge · Part 1 of 3
You are offered a bet that wins your stake with probability 0.6 and loses it with probability 0.4, as many times as you like. Each time you may stake any fraction of your current bankroll.
What fraction of your bankroll does the Kelly criterion bet each time?
Answer with a number. Fractions, powers and expressions like 23/6 or C(52,5) are read correctly in practice.
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