The Kelly criterion is designed to optimize the long term growth of your bankroll in an iterated game. And the strategy that optimizes your bankroll in an iter

The Kelly criterion is designed to optimize the long term growth of your bankroll in an iterated game. And the strategy that optimizes your bankroll in an iterated game is the one that maximizes the expected value of the log of your bankroll after each iteration. Strictly speaking, the Kelly criterion isn't concerned with maximizing expected utility, but the math works out the same.