don't know the info and don't feel like doing the math, but a similar simple example is
putting 2% of $5000 bankroll ($100) on each bet, you'd have to be up 50 units a year (just one a week) to double bank roll every year (assuming you don't resize the bet until the next year. For example, it would be $100 the whole first year, $200 the whole second year, etc. Or take any out).
You'd would then turn that $5000 in to $1.28 Mil by end of 8th year.
sounds easy :142smilie
betting 5% on a game you could go broke, or disturbingly close to it.
JR Miller on binomial distribution:
"With a 57.5% expectation-per-bet, you can plan on making any profit at all only about 60% of the time over your next 21 bets.
In 4 out of 10 cases, you can expect to win less than twelve out of 21 bets. Even with a 57.5% winning expectation on every bet, you must be aware that it is just as easy to go 7-14 (or worse!) as it is to go 17-4 or better. Once in about 8 times you can expect to lose 13 or more of your next 21 bets. By understanding the consequence of the probabilities involved, you can avoid the disastrous results of using such nonsensical money management traps as the so called Kelly criterion' or the suicidal 'one-star, two star, three-star' nonsense, or other progressive betting schemes."
"I play over 2,000 plays a year on all sports (38 a week). I play, simply put, 1.1% of my bankroll on each play to win 1 percent; - that is, 1.1 'units' to win 1 unit. Thus, if I win 55% of my plays, I will win 110 units after vigorish (1,100 wins minus 90 losses minus 90 vigorish. (110 units @ 1% = 110 profit per year - before compounding.) I appreciate that return on investment. That 110% return on investment is possible because at a 1.1% bet 2,000 times, I am able to invest 2,200% of my original bankroll; - the same money 20 times in a year. The return is actually better with the compounding effect."
from rec.gambling:
Here's a simple example: consider a guy with a $2,000 bankroll who bets 1% of bankroll on every play. This is an extremely small bankroll and a rather conservative method of bet sizing. If this guy bets 1% of bankroll and wins 580 units (64 units every year for nine years), he'll have a bankroll of $636,200! That is not exactly precise because it assumes simultaneous resizing. And this is a guy betting only $20 per game and using conservative bankroll management!
