The Smart Gambler's Calculator helps users determine the key factors for fixed-size and fixed-fraction betting.
The Smart Gambler's Calculator is an essential tool for anyone who loves to gamble. It allows you to calculate the main parameters for both fixed-size and fixed-fraction betting. The main input parameters are grouped into several groups to make it easier for you to navigate.
The first group contains data about the properties of a single bet, including the probability of winning the bet and the payoff ratio. The second group has the parameters of the gambler's "comfort zone," such as bankroll, number of games to play, and desired profit.
The calculator is capable of showing the expected value and standard deviation of any gambling or investment opportunity. It helps you to calculate the probabilities of reaching your goal and of losing your bankroll for fixed bet strategy.
For fixed-fraction betting strategy, the optimal fraction of bankroll is determined. This is achieved without any restrictions compared to Kelly's system, in which it is assumed that a player is a risk-averse person and which is only applicable to games with a positive expected value.
The optimal fixed-fraction bet is determined by first minimizing the probability of ruin. If the money were infinitely divisible, the probability of ruin would be zero. The second objective is to maximize the probability of reaching the established goal, and the third objective is to maximize the expected value of the player's bankroll subject to restrictions set by the previous criteria.
Overall, this app is a must-have for any serious gambler. It offers a comprehensive range of features that are designed to maximize your winnings while minimizing your risks. Whether you're a seasoned pro or just starting out, the Smart Gambler's Calculator is the perfect tool for you.
The first group contains data about the properties of a single bet, including the probability of winning the bet and the payoff ratio. The second group has the parameters of the gambler's "comfort zone," such as bankroll, number of games to play, and desired profit.
The calculator is capable of showing the expected value and standard deviation of any gambling or investment opportunity. It helps you to calculate the probabilities of reaching your goal and of losing your bankroll for fixed bet strategy.
For fixed-fraction betting strategy, the optimal fraction of bankroll is determined. This is achieved without any restrictions compared to Kelly's system, in which it is assumed that a player is a risk-averse person and which is only applicable to games with a positive expected value.
The optimal fixed-fraction bet is determined by first minimizing the probability of ruin. If the money were infinitely divisible, the probability of ruin would be zero. The second objective is to maximize the probability of reaching the established goal, and the third objective is to maximize the expected value of the player's bankroll subject to restrictions set by the previous criteria.
Overall, this app is a must-have for any serious gambler. It offers a comprehensive range of features that are designed to maximize your winnings while minimizing your risks. Whether you're a seasoned pro or just starting out, the Smart Gambler's Calculator is the perfect tool for you.
What's New
Version 1.0: N/A