Kelly Criterion
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The Kelly Criterion or as it is sometimes referred to as the Kelly formula is a formula used to maximize the long-term growth rate of repeated plays of a given gamble that has positive expected value. The formula specifies the … Read More

Poker jargon – B
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baby A low-ranked card, usually used in lowball games. Also “spoke” when between ace and five. backdoor A draw requiring two or more rounds to fill. For example, catching two consecutive cards in two rounds of seven-card stud or Texas … Read More