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→References: Fixed optimal betting strategy. Indeed, the profit margin on a win is 1.0 rather than 2.0: 2.0 would imply that thrice the gambler's bet is returned on a win (thus a gain of 2x the bet), while in reality twice the bet is returned (a gain of 1x the bet).
<ref Name="OptimalBet">The optimal bet can be calculated using the Kelly criterion for bet sizing:<samp>
<ref Name="OptimalBet">The optimal bet can be calculated using the Kelly criterion for bet sizing:<samp>
<br/>Proportion to bet = Chance of Winning - (Chance of Losing / Profit Margin on Win).
<br/>Proportion to bet = Chance of Winning - (Chance of Losing / Profit Margin on Win).
<br/>Proportion to Bet = (23 / 30) - ((7 / 30 ) / 2)
<br/>Proportion to Bet = (23 / 30) - ((7 / 30 ) / 1)
<br/>Proportion to Bet = 65%</samp></ref>
<br/>Proportion to Bet = 53.3%</samp></ref>
</references>
</references>