It's not practical when the outcome is distributed in a very weird and unknown way and each bet isn't really iid. Moreover you can find the same result with a

It's not practical when the outcome is distributed in a very weird and unknown way and each bet isn't really iid. Moreover you can find the same result with a simple grid search over bet sizes, obviating the need to estimate any parameters of the outcome distribution. It would be more useful in professional gambling where outcome distributions are more knowable.