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

Smart Gambler's Calculator for PocketPC OS 1.0
 Cards
 Views:365(+0) Freeware
By AdvMathAppl

Smart Gambler's Calculator allows one to look 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 bribe (prize-to-bet ratio). The second group contains parameters of the gambler's "consolation zone": bankroll, count of games to act (or count of bets to position), and desired profits or prize-to-win in these games / bets.

The calculator shows the expected value (profits / lose in the long streak) and standard divergence (variability) of this gambling or investment opportunity.

For the reconditioned 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 fictitious that a histrion is a risk-averse individual (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 style. First of whole, the optimal fixed-fraction wager should belittle the probability of dilapidation. In theory, if money were "infinitely divisible, " the probability of dilapidation in fixed-fraction betting is nought. The second objective / criterion is to maximize the probability of reaching the firm goal, and the third objective / criterion is to maximize the expected value of the histrion's bankroll, dependent to restrictions set by the previous criteria.


CompanyAdvMathAppl
Websitehttp://www.advmathappl.com
CountryUS
Emailsupport@advmathappl.com
OsWindows CE
RequirementsCasl library
LanguageEnglish
Release Date30 08 2004
LicenseFreeware
Limitations

Free Download 0.00 Mb

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