Half Kelly Criterion
The Half-Kelly Criterion is often used by players who don't entirely trust the Kelly Criterion or their implementation of it.
In a casino setting, it is easy to miscalculate the formula. If this leads to over-betting, the formula becomes counter-productive and the player can lose a large amount.
To safeguard against this, some people simply half the bet the Kelly Formula requires. This is called the half-kelly.
This eliminates the chances of mistaken over-betting. Of course, the Half-Kelly undermines the original purpose of the Kelly Criterion, which was to maximize the amount won at a casino.
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