I have heard that your maximum bet should be no greater than 100 times your bankroll. I play 6 and 8 deck shoes, so backcounting is a must for me, and i only try and play TC's of +2 and higher. Assuming i start with a 20,000 dollar bankroll, i could safely bet 200 dollars a hand (nevermind casino heat for now) with a low risk of ruin... less than 5%?
Assuming i bet 100 hands a session at 200 dollars a hand, i could expect to make 300 dollars (assuming i have an avg. advantage of 1.5%). Now, if i factor in standard deviation, (i believe the formula for this is 1.1/Sq Root of the number of hands played... then you take this number and multiply it by the total amount of money wagered), i can expect to walk away up 2500 or down 1900 68% of the time (for one standard deviation) or up 6900 to down 6300 99.8% of the time (for three standard deviations). Lets assume i have a horrible session, and i am down 6300 dollars. For my next session, must i recalculate my maximum bet for my new bankroll? Or on the other spectrum, lets say i have an amazing session, for my next session should i readjust my max bet?
I am not sure about all the math i have just given;these are all just bits and pieces of information that i have read in several differnt books. I am basically just looking for reassurance that i got this whole idea down and any comments or suggestions would be greatly appreciated.
Impala