| Company | AdvMathAppl |
| Website | http://www.advmathappl.com |
| Country | US |
| Email | support@advmathappl.com |
| Os | Palm OS 3.0, Palm OS 3.1, Palm OS 3.2 |
| Requirements | Casl library |
| Language | English |
| Release Date | 30 08 2004 |
| License | Freeware |
| Limitations | |
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PDA:Palm OS:Games:Cards
Views 432 (+0) / Rating 3.32 / 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 depend: probability of winning the depend, and the yield (prize-to-bet ratio). The second group contains parameters of the gambler's "solace zone": bankroll, numeral of games to wreak (or numeral 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 guide) and standard deviance (variability) of this gambling or investment opportunity.
For the set depend, 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 thespian is a risk-averse somebody (so not a gambler) and which is applicable only to games with overconfident expected values, this scheme has none of these restrictions. The optimality is determined in the following fashion. First of totally, the optimal fixed-fraction depend should derogate the probability of break. In theory, if money were "infinitely divisible, " the probability of break in fixed-fraction betting is zilch. The second objective / criterion is to maximize the probability of reaching the naturalized goal, and the third objective / criterion is to maximize the expected value of the thespian's bankroll, bailiwick to restrictions set by the previous criteria.
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