# K … is for Kelly

THE ENCYCLOPEDIA OF CASINO TWENTY-ONE
# A B C D E F G H I J K L M N O P Q R S T U V W XYZ

K. See king.

Kalinevitch Ten Count. {TCS}. TBD
[ 78 Kalinevitch Blackjack Made Easy ]

Kaplan, Bill.  Kaplan was a 1980 Harvard MBA graduate and ran a successful blackjack team in Las Vegas.  That is, until he met “Mr. M” of the MIT Blackjack Team and helped form a new MIT team in 1980.

Kansas.  In 2016, the state of Kansas had 6 casinos with 70 blackjack tables.

Keen, Paul. (March 14, 1942 – Oct 22, 1994) A well respected card counter and former Las Vegas reporter for Arnold Snyder’s Blackjack Forum.  Paul was an employee of the Gambler’s Book Club in Las Vegas and was always willing to share his knowledge of the game with visitors.  Steve Forte has said that “Paul Keen was certainly one of the game’s notable ‘journeymen’“.  Howard Schwartz comments, “Paul was a very special person and probably assisted more people on blackjack books than anyone else in our 30-year history.”  Paul died of heart failure. See Precision Count.
[ http://www.rge21.com/lib/countesp.html ] [ Winter 95 Blackjack Review 4.1 ] [ 36 Blackjack Confidential Nov 94 ]

Kelly betting. To bet in a manner that will maximize the long term growth rate of your bankroll.   See Kelly Criterion.

Kelly Criterion. (J. L. Kelly) (1956) This is a bet-sizing system based on the knowledge of the player’s advantage and variance at any point in the game.  The standard deviation (SD) for a single hand in blackjack is about 1.151)A standard deviation of 1.15 is based on a blackjack game with liberal rules.  If the rules are not so generous the SD can be as low as 1.10 or so. thus the variance turns out to be about 1.32 (square of the SD).  An optimal Kelly bet can be calculated to be:

So, if a player has a 1% advantage and a \$10,000 bankroll:

(.01 / 1.32) x \$10000 = \$75.76

he should bet about \$75 on the hand.  The Kelly Criterion is used in money management by many professional card counters to maximize the long term growth rate of their bankroll. Since the formula above recommends a \$0 bet when you have no advantage, many players opt to use 1/2 Kelly.  See risk of ruin.  See gambler’s ruin. See Leib Criterion.  See Certainty Equivalence.[ 56 Kelly A New Interpretation of Information Rate ] [ 6/66 Thorp A Favorable Side Bet in Nevada Baccarat Vol.61,313 ] [ 70 Wilson The Casino Gambler’s Guide ] [ 81 Friedman Understanding & Applying the Kelly… ] [ c81? Rouge et Noir 8 ] [ 10/81 Wong Blackjack World Vol.3,162 ] [ 83 Griffin A Fractured Fable Vol.22,6 ] [ 83 Friedman Kelly vs Mini-Max Vol.24,10 ] [ 87 Humble World’s Greatest Blackjack Book 203 ] [ 3/93 Schlesinger Risk of Ruin BJF 5 ] [ 9/93 Leib What’s a Kelly Man to Do? BJF 31 ]

keno tickets. Where many blackjack experts (and authors) jot down notes about game conditions and dealer/casino information.

key card(s). A reference to a card or group of cards that are memorized with the hope that they will reappear after the shuffle.  Used in ace location and sequencing strategies. The term “false key(s)” refers to a card or groups of cards that are falsely identified as key cards.  See kiss.

key card concept

king. (K). One of four 10-valued cards in a standard deck of playing cards.

King’s Bounty. (KB) A blackjack side bet from Bally Technologies.  According to their literature: … a side bet that pays when a player’s first two cards total 20.  To play, players make a standard blackjack wager and the King’s Bounty side bet. The dealer will deal blackjack according to house procedures. Players will win the King’s Bounty side bet if their first two cards add up to 20. The top award occurs when a player has two Kings of Spades and the dealer has blackjack. Other variations of this side bet include King’s Bounty Dealer Envy and King’s Bounty Deluxe. Typical payoffs are: 4/6/9/20/30/100/1000 for any 20 / KK / suited 20 / matched 20 / suited KK / KsKs / KsKs and dealer blackjack.
https://www.ballytech.com/Table-Products/Table-Games/Blackjack-Side-Bets/King’s-Bounty ] [ Wong Current Blackjack News ]

kiss. 1) Keep It Simple Stupid or 2) An example of a mnemonic for the King of Spades.  Mnemonics are often used as an aid in remembering key cards when Ace sequencing.

KISS 1.  (c1996) (Fred Renzey). An unbalanced card counting system that supposedly simplifies things be “omitting” 50% of the cards from the count.  Discussed in Renzey’s book Blackjack Bluebook.
[ 2010 Wattenberger Modern Blackjack 182 ]

KISS 2.  (c1996) (Fred Renzey).  A suit-aware count where the 2 is counted differently depending on the color of the suit.

A 2   3 4 5 6 7 8 9 10
0 0/1 1 1 1 1 0 0 0 -1

BC = .90 PE = .62

KISS 3.  (c1996) (Fred Renzey). A suit-aware count where the 2 is counted differently depending on the color of the suit.

A 2   3 4 5 6 7 8 9 10
-1 0/1 1 1 1 1 1 0 0 -1

BC = .98 PE = .56

Knock-Out Blackjack. (KO) (1996) (Olaf Vancura and Ken Fuchs)  An excellent unbalanced card counting system.  More info.  See REKO. See TKO.  See T-H Card Counting System(s).
[98 Vancurra/Fuchs Knock-Out Blackjack]

[ AMAZON: Knock-Out Blackjack ]

A 2 3 4 5 6 7 8 9 10
-1 1 1 1 1 1 1 0 0 -1

BC = .98 PE = .55

KO.   Acronym for Knock-Out Blackjack.

Krigman, Alan. (19?? – Oct 2013) A syndicated gaming columnist and publisher of the Winning Ways newsletter, a monthly newsletter.  His columns focused on gambling probability and statistics.  He passed away in October, 2013.
[ http://www.attheshore.net/krigman/index.html ] [ http://krigman.casinocitytimes.com/ ]

kurtosis.   A measure of how “fat” a probability distribution’s tails are, measured relative to a normal distribution having the same standard deviation. A distribution is said to be leptokurtic if its tails are fatter than those of a corresponding normal distribution. It is said to be platykurtic if its tails are thinner than those of the normal distribution.
[ http://www.contingencyanalysis.com/glossarykurtosis.htm ] [ Graphic: Courtesty of Contingency Analysis ]

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Footnotes   [ + ]

 1 ↑ A standard deviation of 1.15 is based on a blackjack game with liberal rules.  If the rules are not so generous the SD can be as low as 1.10 or so.