Kent D.

[Dunbar]

Originally Posted by Bobby Fischer

i'll look it up, i'm just burn't out right now in need of a power nap... but do you have a link to Ed Thorp's papers?

The idea of betting Edge*Bankroll/Odds that I referred to above is the Kelly Criterion. Wikipedia has a decent description of it:
http://en.wikipedia.org/wiki/Kelly_criterion

Can't find a Thorp link that's ideal for horseracing. Here's one paper he wrote that covers a lot of Kelly betting, but it's pretty heavy math.
http://www.bjmath.com/bjmath/thorp/paper.htm

--Dunbar