The Smart Gambler's Calculator is a software that enables users to calculate key parameters of fixed-size and fixed-fraction betting strategies for gambling.
The Smart Gambler's Calculator is a powerful tool for anyone looking to calculate the main parameters for fixed-size and fixed-fraction betting. The calculator is split into several groups, making it easy to input and manage data.
The first group contains data about the properties of a single bet, including the probability of winning the bet and the payoff. Meanwhile, the second group contains parameters of the gambler's "comfort zone," such as bankroll, number of games to play, and desired profit or prize-to-win in these games/bets.
One of the key features of the calculator is its ability to show the expected value and standard deviation of this gambling or investment opportunity.
For fixed betters, the calculator can effectively calculate the probabilities of reaching the goal and of losing the bankroll. Simultaneously, for fixed-fraction betting strategies, the optimal fraction of bankroll is determined through a thorough and precise calculation.
Moreover, unlike Kelly's system, the Smart Gambler's Calculator doesn't assume that a player is a risk-averse person, which limits its application to games with positive expected values.
The optimality of the calculator is determined in several ways, starting with the optimal fixed-fraction bet that minimizes the probability of ruin. Additionally, the calculator can help maximize the probability of reaching the established goal and maximize the expected value of the player's bankroll, subject to the restrictions set by the previous criteria.
Overall, the Smart Gambler's Calculator is a fantastic software for anyone looking to understand the optimal strategy behind betting and gambling, backed by thorough calculations that ensure the best chances of winning.
The first group contains data about the properties of a single bet, including the probability of winning the bet and the payoff. Meanwhile, the second group contains parameters of the gambler's "comfort zone," such as bankroll, number of games to play, and desired profit or prize-to-win in these games/bets.
One of the key features of the calculator is its ability to show the expected value and standard deviation of this gambling or investment opportunity.
For fixed betters, the calculator can effectively calculate the probabilities of reaching the goal and of losing the bankroll. Simultaneously, for fixed-fraction betting strategies, the optimal fraction of bankroll is determined through a thorough and precise calculation.
Moreover, unlike Kelly's system, the Smart Gambler's Calculator doesn't assume that a player is a risk-averse person, which limits its application to games with positive expected values.
The optimality of the calculator is determined in several ways, starting with the optimal fixed-fraction bet that minimizes the probability of ruin. Additionally, the calculator can help maximize the probability of reaching the established goal and maximize the expected value of the player's bankroll, subject to the restrictions set by the previous criteria.
Overall, the Smart Gambler's Calculator is a fantastic software for anyone looking to understand the optimal strategy behind betting and gambling, backed by thorough calculations that ensure the best chances of winning.
What's New
Version 1.0: N/A