Interesting. I think whether you follow a riskier strategy or not depends on the shape of the bets you are making. If you are picking up pennies in front of a

Interesting. I think whether you follow a riskier strategy or not depends on the shape of the bets you are making. If you are picking up pennies in front of a steamroller (high probability of low payout and low probability of losses), then what you say seems to make sense. If you are playing lottery tickets (low probability of high payout and high probability of losses) then I guess you want to bet conservatively until the Kelly strategy falls below you and then you switch to the Kelly strategy.