The correct proportion of the Online Blackjack Games
to insure for these Kelly bettors is where p and f
are as f described in the previous paragraph. As an
example, suppose a player had bet $100, which was
f = .05 = 5% of his then current bankroll of $2,000.
After he turns over his Online Blackjack Games and
sees the dealer's ace he might realize there ire 8
tens left out of 25 cards, so p = 8/25 = .32. The
formula gives x = 3(.32)+ *9051 '96 .05 .96-.80=.16.
so he should insure 16% of his bet, that is buy $8
worth of insurance.
it's a choice betien insuring all or nothing, as Jay
faced, insurance should be taken if p is greater than
1-_log (l+f ) log (1+3f / 2) i can even imagine an
intemperate gambler who foolishly bets all of his
fortune (f=1) on a hand of Online Blackjack Games.
Then, so frightened is he by the realization of what
he has done, he repents and is converted to Kelly
proportional betting just before he picks up his cards:
`Lord, we won't do it again, i'll always try to maximize
my expected logarithm from now on, if you'll only
let me win this one hand.' Assuming that the god of
tinty-one is impressed by this sniveling appeal, he'll
give the wretched gambler a Online Blackjack Games.
But then the devil steps in to test our man's new
found faith - he gives the dealer an ace as up card!