- Smart Gambler's Calculator for Palm OS 1.0 By AdvMathAppl

Smart Gambler's Calculator for Palm OS 1.0
 Cards
 Views:432(+0) Freeware
By AdvMathAppl

Smart Gambler's Calculator allows one to reckon the main parameters for fixed-size and fixed-fraction betting.

The main input parameters are grouped into several groups. The first group contains data about the properties of a single wager: probability of winning the wager, and the wages (prize-to-bet ratio). The second group contains parameters of the gambler's "ease zone": bankroll, total of games to flirt (or total of bets to site), and desired benefit or prize-to-win in these games / bets.

The calculator shows the expected value (benefit / lose in the long tend) and standard deflexion (variability) of this gambling or investment opportunity.

For the set wager, the probabilities of reaching the goal and of losing the bankroll are calculated.

For the fixed-fraction betting strategy, the optimal fraction (percentage) of bankroll is determined.

In contrast to Kelly's arrangement, in which it is false that a histrion is a risk-averse somebody (so not a gambler) and which is applicable only to games with confirming expected values, this arrangement has none of these restrictions. The optimality is determined in the following agency. First of totally, the optimal fixed-fraction wager should minimise the probability of smash. In theory, if money were "infinitely divisible, " the probability of smash in fixed-fraction betting is cipher. The second objective / criterion is to maximize the probability of reaching the conventional goal, and the third objective / criterion is to maximize the expected value of the histrion's bankroll, study to restrictions set by the previous criteria.


CompanyAdvMathAppl
Websitehttp://www.advmathappl.com
CountryUS
Emailsupport@advmathappl.com
OsPalm OS 3.0, Palm OS 3.1, Palm OS 3.2
RequirementsCasl library
LanguageEnglish
Release Date30 08 2004
LicenseFreeware
Limitations

Free Download 0.00 Mb

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