Yes. The 'fully Kelly' betting is the fastest growth, but the variance is sky-high in practice. If I remember the math right, while betting using full Kelly sta

Yes. The 'fully Kelly' betting is the fastest growth, but the variance is sky-high in practice. If I remember the math right, while betting using full Kelly stakes, you will have a 50% chance of losing half of your current bank at some point in the future. Most people (rightly or wrongly) don't have the stomach for such wild swings in fortune, and so using reduced stakes will lead to less variance while still being profitable. Also, in the real world, you never accurately know how big your % edge actually is, so there's a real chance that you are over-betting when using Kelly stakes. Using reduced stakes is a way to compensate for this.