Backgammon, by Michelin Chabot

Backgammon Books

Backgammon
How to Maximize Your Profits and Optimize Your Cube Decisions Using the Kelly System

AUTHOR: Michelin Chabot

YEAR: 1983

PUBLISHER: Michelin Chabot

CITY: Montreal, Quebec

ISBN: 0-9691012-1-X

BINDING: Softcover, staple bound

PAGES: ii+84

SIZE: 30 cm high, 22 cm wide

DOWNLOAD: www.bkgm.com/books/Chabot/HowToMaximizeYourProfits.pdf

DESCRIPTION:
To make money in backgammon, you need two elements: a skill advantage, and good money management principles, which mainly means correctly establishing your bet and handling the cube properly. Chabot introduces an additional goal: that of maximizing the rate of increase of your wealth. John L. Kelly Jr. established a theory known as the Kelly theory which permits us to derive our optimal bet and to optimize our cube decisions.

CONTENTS:

Acknowledgments
Forward
Introduction
Chapter 1. The Kelly money management system
Chapter 2. The Kelly system applied to games in general
   2.1. The winning probability is constant
   2.2. The winning probability is variable
Chapter 3. Adjustments for backgammon
   3.1. Calculation of your expectation
   3.2. Corrections to be made when the bet is increased after a specific number of games
   3.3. Establish your optimal bet for matches
   3.4. Establish your optimal bet for money games
   3.5. Establish your "optimal entrance fee" for tournaments
   3.6. How to handle "Double or Nothing" propositions
Chapter 4. Effect of the Kelly Criterion on the doubling cube theory
   4.1. The incredible Chabot paradoxical proposition
   4.2. Criteria to determine if you should double
   4.3. Criteria to determine if you should drop, take or beaver
Chapter 5. Dilemma related to the Kelly theory in backgammon
Chapter 6. Principles of Money Management
   6.1. The ten commandments of money management
   6.2. You are the stronger player
   6.3. You are the weaker player
Conclusion
Appendix A. Danny Kleinman's article concerning expectations
Appendix B. Answer to Kleinman's article
Appendix C. Derivation of coefficient K₂
Appendix D. Mathematical analysis of the incredible Chabot paradoxical proposition
Appendix E. Derivation of Diagrams 4 and 5

COVER: (1) How to establish your optimal bet.
(2) Why the standard 3 to 1 rule is now a thing of the past.
(3) How to benefit from the ten-commandments of money management.
(4) The secret behind the "Incredible Chabot Paradoxical Proposition."
(5) How to make more money faster than you ever did before.

ABOUT THE
AUTHOR: Michelin Chabot graduated from Sherbrooke University in the Province of Quebec (Canada) as a civil engineer in 1972. He played chess seriously from 1964 to 1976, but gave it up to devote himself entirely to backgammon.

BY THE SAME
AUTHOR:

   Backgammon
How Much Should You Bet?
Michelin Chabot
1982: Michelin Chabot, Montreal, Quebec