- 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 cypher 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 look: probability of winning the look, and the takings (prize-to-bet ratio). The second group contains parameters of the gambler's "solace zone": bankroll, amount of games to act (or amount of bets to localise), and desired gain or prize-to-win in these games / bets.

The calculator shows the expected value (gain / lose in the long course) and standard deviance (variability) of this gambling or investment opportunity.

For the frozen look, 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 scheme, in which it is sham that a participant is a risk-averse soul (so not a gambler) and which is applicable only to games with prescribed expected values, this scheme has none of these restrictions. The optimality is determined in the following means. First of totally, the optimal fixed-fraction look should derogate the probability of bankrupt. In theory, if money were "infinitely divisible, " the probability of bankrupt in fixed-fraction betting is zilch. 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 participant's bankroll, dependent 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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