# John L. Kelly Jr. Topic: [[Topics/Betting/Betting|Betting]] · People in this topic are listed on the hub. - **Who:** (1923–1965) Bell Labs scientist; "A New Interpretation of Information Rate" (*Bell System Technical Journal* 35, 1956) gives the bet size that maximizes long-run growth of wealth: the Kelly criterion ◻ (cited in Benter's paper). ## Role in this topic - Benter staked with **fractional Kelly**, warning that full Kelly with an overestimated edge produces a negative growth rate ([1994 paper](https://gwern.net/doc/statistics/decision/1994-benter.pdf)). The post's EV rule says when to bet, not how much.