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Variable bet size question

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boko
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boko

Variable bet size question
« on: February 01, 2021, 02:38:02 PM »
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Hello
I found a bet simulator but I am a bit confused about the meaning of Variable bet size . The simulator has two option about bet sizes , Fixed and Variable . And the difference about risk of ruin is significant between those two options. Here is an example

Bet Simulator
Starting Bankroll:   
10,000.00
Average US Odds:   
-110.00
(1.9091)
ROI:   
2.00%
(53.43% winrate)
# of Bets:   
1,000
Bet Size:
Variable
2.20% to win
2.00%
Calc chance of losing:   
100.00%
starting bankroll
Median Ending Bankroll:   
12,313.97
Avg Ending Bankroll:   
15,326.15
Standard Deviation:   
11,141.49
Chance of Loss at End:   
38.78%
Chance of 100.00% loss:
0.00%
70% Confidence Interval:   
8,796.45-17,238.07

In this simulation the chance of losing the entire bankroll is zero , but when I set it on fixed bet mode the chance of losing the bankroll is 4.3% which is not insignificant . My assumption is that in Variable bet size when I lose percentage of my bankroll I reduce the bet size? Also on the simulator menu it says AVERAGE odds , so I am guessing sometimes the edge is 1% sometimes 3% .In that case Variable bet size could mean Kelly style betting
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