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think of br management this way: let's say you are allotted 20 dollars in your entire life to gamble as you see fit and once you lose those twenty dollars you can never make another bet in your life. you are given two options--either you can make bets that risk exactly 1/20th of the money you have 100% of the times that you bet, or 100% of the times that you bet you're playing double or nothing.
well, it stands to logic that you are essentially guaranteed to go busto in the double or nothing instance NO MATTER HOW MUCH OF AN EDGE YOU GET. you could be a 90% favorite in every single bet you make and it's still dumb to double or nothing your whole career....
so complete exaggeration of all the premises, but i think you get the point.
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