- 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 calculate 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 calculate: probability of winning the calculate, and the takings (prize-to-bet ratio). The second group contains parameters of the gambler's "console zone": bankroll, come of games to toy (or come of bets to localise), and desired benefit or prize-to-win in these games / bets.

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

For the set calculate, 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 organisation, in which it is assumptive that a instrumentalist is a risk-averse somebody (so not a gambler) and which is applicable only to games with positivistic expected values, this organisation has none of these restrictions. The optimality is determined in the following manner. First of completely, the optimal fixed-fraction calculate should denigrate the probability of destroy. In theory, if money were "infinitely divisible, " the probability of destroy in fixed-fraction betting is cipher. The second objective / criterion is to maximize the probability of reaching the constituted goal, and the third objective / criterion is to maximize the expected value of the instrumentalist's bankroll, capable 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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