#7 on this list is misleading. It is repeated below for convenience.
"7. 2-5 percent of bankrolls -- The Kelly Criterion, a widely respected money management system, suggests betting 2-5 percent of your bankroll per game. If you have $500 to bet on your weekend in Vegas, your max wager to start should be $25."
It starts off OK, but the conclusion, "If you have $500 to bet on your weekend in Vegas, your max wager to start should be $25," is too conservative.
It is accurate if you brought your ENTIRE bankroll to a weekend in Vegas, but it is hard to believe that anyone would bring their entire bankroll for a weekend in Vegas.
It also depends how many bets you are going to make. If you are going to sit in the sportsbook the entire day and bet every horse race available, you need to be more conservative, but if you are going to bet 2-3 football games on Saturday and 2-3 football games on Sunday, I have no problem with betting $100 a game.
The key questions are, of course,
1. How good of a handicapper are you?
2. How big is your real bankroll?
If you are a 50% handicapper, then the optimal fixed fraction is zero.
It is a common mistake to think that your bankroll is the amount of money that you have on you.
Dr M