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Originally Posted by Scav
It would grow after $500 in profit, so when I get to $2500 I would be wagering more, and then $3k...Eventually, the 20k mark is the stop point from increasing my wager.
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Most people are telling you that you need to start with a bigger bankroll. They are missing the point that you are trying to see whether you can make a living by capping. You don't know whether you have an edge yet, so why should you be betting from a large bankroll?
You need to identify your goal. If your goal is to see if you can cap well enough to win, it doesn't much matter if you start with $2K or $20K or $200K. However, you should not increase your bet size if you get ahead. That would be the correct thing to do if your goal is to grow a bankroll. But IMO, your first and primary goal should be to see if you can cap well enough to win.
If you increase your bets when you are ahead, your fluctuations will increase wildly. Your end-of-year results will be less meaningful.
What's extremely important is that you do not kid yourself about your results. You count every bet you make and you see where your bankroll is at the end of the year. There should be no "I missed something obvious so that bet doesn't count" sort of stuff.
If you can turn that $2K into $4K, you can figure you could just as well have turned $20K into $40K or $200K into $400K*.
Save the Kelly betting for when you are pretty sure you have an edge.
--Dunbar
* Of course, turning $2K into $4K does NOT completely translate to turning $20K into $40K or $200K into $400K. When you are betting from a $20K bankroll, you will have to worry more about knocking down your own odds than when you are betting from a $2K bankroll. Still, you get my point.