On this week's Bet the Process podcast, we'll be talking to Neil Greenberg from the Washington Post

who writes about hockey analytics and horse racing and a host of other things.

Ruth and I are going to start with a spirited discussion on Kelly Criterion and Money Managed.

And then we're going to finish with a little post-mortem on Neil and his appearance, which I think is worth you sticking around for.

As always, the Bet the Process podcast is brought to you by the Sports Action app, which is the best app to track your sports betting picks, get great content, and get all the lines and the line movements.

And it's available for free on the Google Play Store and the iTunes Store.

So download it today. And with that, let's start the process. Welcome to another episode of the Bet the Process podcast with Jeff Maugh and Rufus Peabody.

We're going to be talking to Neil Greenberg from the Washington Post later about his hockey

predictions and some horse racing analytics. But first, we wanted to answer a question that was

brought to us on Twitter. And it's about money management

and how you should do money management. Again, like the whole idea of this podcast is to educate

betters into the right process for betting. And I think that, you know, one of the things, if you

take this back to the blackjack days, people always ask me, why don't more people count cards?

Well, there's a lot of reasons. And the first reason is not that it's too hard for people. I can

pretty much teach anyone how to count cards in the period of about an hour to two hours.

They have to then go practice and practice and practice. But more importantly, they have to have

the discipline and the money bank rule and the money management strategy to make money over time.

Because a lot of people, when they play blackjack first, they're going to overbet, right?

They're not going to have enough units to really withstand any variance.

And so we typically, you know, we had back in those days,

you know, about a million dollar bank rule and we were typically betting, you know, a thousand dollar unit, which works out to what roughly 0.1% of the bank rule, is that right?

Yeah, 10% would be 100,000, yeah, about 0.1%.

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