Sublime

The Kelly-Thorp method requires no joint distribution or utility function. In practice, one needs the ratio of expected profit to worst-case return—dynamically adjusted (that is, one gamble at a time) to avoid ruin. That’s all.

In the modern casino game of blackjack, the player can gain a consistent advantage over the house by using the strategy presented in this book. Based on the mathematical theory of probability, this strategy was worked out with an electronic computer by the author and others. It is fortunate and perhaps surprising that the system reduces to a few si