Cards - 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 account 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 issue (prize-to-bet ratio). The second group contains parameters of the gambler's "comfortableness zone": bankroll, count of games to recreate (or count of bets to position), and desired earnings or prize-to-win in these games / bets.

The calculator shows the expected value (earnings / lose in the long trial) and standard digression (variability) of this gambling or investment opportunity.

For the flat 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 organization, in which it is sham that a thespian is a risk-averse human (so not a gambler) and which is applicable only to games with positivistic expected values, this organization has none of these restrictions. The optimality is determined in the following path. First of completely, the optimal fixed-fraction wager should derogate the probability of smash. In theory, if money were "infinitely divisible, " the probability of smash in fixed-fraction betting is cypher. The second objective / criterion is to maximize the probability of reaching the accomplished goal, and the third objective / criterion is to maximize the expected value of the thespian's bankroll, field 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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