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Smart Gambler's Calculator PPC 1.0
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Info: |
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Pocket PC
Downloads: 501
Rating: 
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Updated: |
2004-Oct-29 |
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Developer: |
AdvMathAppl |
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Support: |
support@advmathappl.com |
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Categories: |
Games / Card Games
Games / Casino Games
Entertainment / Hobbies
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License: |
Freeware
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Description: |
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 bet: probability of winning the bet, and the payoff (prize-to-bet ratio). The second group contains parameters of the gambler’s “comfort zone”: bankroll, number of games to play (or number of bets to place), and desired profit or prize-to-win in these games/bets.
The calculator shows the expected value (profit/lose in the long run) and standard deviation (variability) of this gambling or investment opportunity.
For the fixed bet, 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 system, in which it is assumed that a player is a risk-averse person (so not a gambler) and which is applicable only to games with positive expected values, this system has none of these restrictions. The optimality is determined in the following way. First of all, the optimal fixed-fraction bet should minimize the probability of ruin. In theory, if money were “infinitely divisible,” the probability of ruin in fixed-fraction betting is zero. The second objective/criterion is to maximize the probability of reaching the established goal, and the third objective/criterion is to maximize the expected value of the player’s bankroll, subject to restrictions set by the previous criteria.
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Compatible: |
Compaq Aero 1500, Compaq Aero 1550, Compaq Aero 2100, Compaq Aero 8000, Compaq C-Series 2010c, Compaq C-Series 801, Compaq iPaq 1945, Compaq iPaq 2215, Compaq iPaq 5500, Compaq iPaq 5550, Compaq iPaq 5555, Compaq iPaq H3100, Compaq iPaq H3600, Compaq iPaq H3670, Compaq iPaq H3800, Compaq iPAQ H5450, Compaq iPaq Pocket PC 3765, Compaq iPaq Pocket PC 3900, Compaq iPaq Pocket PC H1910, Compaq iPAQ rx3115, Compaq iPAQ rx3715, Compaq iPaq rz1715, Compaq PC Companion C120, Compaq PC Companion C140, Dell Axim X3, Dell Axim X30, Dell Axim X5, HP iPAQ H4150, HP iPAQ hx4705, HP iPAQ Pocket PC h4350, HP iPAQ Pocket PC h5150, HP iPAQ Pocket PC h5550, HP Jornada 420, HP Jornada 430se, HP Jornada 525, HP Jornada 545, HP Jornada 548, HP Jornada 565, HP Jornada 568, HP Jornada 680, HP Jornada 690, HP Jornada 720, HP Jornada 820, HP Jornada 928, Pocket PC Phone Edition, Pocket PC V35, Toshiba 2032, Toshiba e310, Toshiba e330, Toshiba e335, Toshiba e400, Toshiba e405, Toshiba e570, Toshiba e750, Toshiba e800, Toshiba e805, Toshiba Genio e550, Toshiba Genio e570, Toshiba Pocket PC e740.
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Requirements: |
Casl Library
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