The Smart Gambler's Calculator computes key variables for fixed-size and fixed-fraction wagering, facilitating peak gaming outcomes.
The Smart Gambler's Calculator is a powerful tool for those who are interested in analyzing their betting strategy. It is designed to calculate the main parameters for both fixed-size and fixed-fraction betting. The main input parameters are grouped into several categories depending on the type of bettor. In the first group, it collects data about the properties of a single bet such as the probability of winning the bet and the payoff ratio.
In the second group, the Smart Gambler's Calculator provides parameters that are related to the gambler's comfort zone. These parameters include the bankroll, the number of games played, and the desired profit. The calculator shows the expected value and standard deviation of this investment or gambling opportunity.
The fixed bet mode calculates the probabilities of reaching the winning goal and losing the specified bankroll. For the fixed-fraction betting strategy, the optimal fraction or percentage of bankroll is determined. The system doesn't have any restrictions. In contrast to Kelly's system, which is applicable only to games with positive expected values and assumes that the player is risk-averse, the Smart Gambler's Calculator doesn't make these assumptions.
The optimal fixed-fraction bet is determined by minimizing the probability of ruin. If money was infinitely divisible, the probability of ruin in fixed-fraction betting would be zero. The second objective is to maximize the probability of reaching the established goal. The third objective is to maximize the expected value of the player's bankroll, subject to restrictions set by the previous criteria. Overall, the Smart Gambler's Calculator is an essential tool for anyone looking to analyze their betting strategy.
In the second group, the Smart Gambler's Calculator provides parameters that are related to the gambler's comfort zone. These parameters include the bankroll, the number of games played, and the desired profit. The calculator shows the expected value and standard deviation of this investment or gambling opportunity.
The fixed bet mode calculates the probabilities of reaching the winning goal and losing the specified bankroll. For the fixed-fraction betting strategy, the optimal fraction or percentage of bankroll is determined. The system doesn't have any restrictions. In contrast to Kelly's system, which is applicable only to games with positive expected values and assumes that the player is risk-averse, the Smart Gambler's Calculator doesn't make these assumptions.
The optimal fixed-fraction bet is determined by minimizing the probability of ruin. If money was infinitely divisible, the probability of ruin in fixed-fraction betting would be zero. The second objective is to maximize the probability of reaching the established goal. The third objective is to maximize the expected value of the player's bankroll, subject to restrictions set by the previous criteria. Overall, the Smart Gambler's Calculator is an essential tool for anyone looking to analyze their betting strategy.
What's New
Version 1.0: N/A