Full Kelly is the math-optimal stake size. It's also the wrong choice for almost every real bettor. This lesson is the why — and how to land on the fraction (½, ¼, or somewhere in between) that actually keeps you in the game long enough for your edge to compound.
The Kelly recap
From Lesson #9: Kelly tells you what percentage of your bankroll to stake on a bet, given your edge. For a binary outcome, the formula simplifies to edge ÷ odds, and it produces the stake that maximizes the long-run growth rate of your bankroll.
