I've read that the optimal bet at a particular true is given by:
OB=(advantage x bankroll)/variance
Also, if you play multiple spots you divide by the sum of variance and (n-1) x covariance.
Let's say that I want to play two spots simultaneously, but the second spot does not have the same advantage as the first one. For example, I play my own spot but I also back-bet a ploppy who is not playing perfect BS. As a result, on average, at a particular true, the second spot will have less advantage than the first one (my own).
My question is, how do I calculate the optimal bets on each of the spots, given the advantages and the variances for each spot at a particular true? Also, how do I compute the variance of such a betting pattern?
Takis
