> Actually, the main assumption that leads to the Kelly criterion is that you will have future opportunities to bet with the same edge, not constrained by the a

> Actually, the main assumption that leads to the Kelly criterion is that you will have future opportunities to bet with the same edge, not constrained by the amount. Not the same edge -- any edge! And this condition of new betting opportunities arriving every now and then is a fairly accurate description of life, even if you walk out of the casino.