f* = (bp−q)/b. Half keeps ~75% growth with ~½ variance.
Open Kelly →P5 / median / P95. If P5 nears zero, you bet too big.
Run simulation →0.25×→1.5× sweep. Parlays: product math, variance explodes.
Compare →qⁿ, drawdown, gambler's ruin. Small edges drown in streaks.
Check risk →