215: William Beauchamp – Ex-Poker Player Assembles Team to Conquer Sports Markets
Chat With Traders
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How to Scale Your Bets Properly
I was always too optimistic and I was always over confident when it came to betting. The Kelly criterion is just a really great first answer to sort of say, how should we be betting given we found this edge? And that's something which I learned from my poker days. If you don't take risks appropriately, either A, you're going to be stagnant or B, you'll blow up. That's what I would do a lot. Now looking back at it, it's just kind of like the dumbest thing ever... To spend so much money on such a stupid project has been one of the most rewarding experiences in my life."
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