The Leib Criterion

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Julio88

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The Leib Criterion is an alternative bet sizing criterion proposed by John Leib for players with non-fixed bankrolls in blackjack. The criterion suggests that the optimal bet size is a function of the player's current bankroll, the size of the current bet, and the house's edge. It takes into account the possibility of ruin, which occurs when the player loses all of their bankroll, and seeks to minimize the probability of ruin while maximizing expected gains.
 
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