Download Freeware Smart Gambler's Calculator for PocketPC OS 1.0

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Smart Gambler's Calculator for PocketPC OS Description:

Smart Gambler's Calculator for PocketPC OS is Freeware program for Pocket PC developed by AdvMathAppl

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 figures about the properties of a distinct bet: probability of captivating the bet, and the payoff (prize-to-bet correlation). The second group contains parameters of the gambler's "comfort zone": bankroll, integer of games to frisk (or integer of bets to site), and desired gain or prize-to-win in these games / bets.

The calculator shows the expected value (gain / yield in the long race) and standard deviation (variability) of this gambling or investment opportunity.

For the firm bet, the probabilities of reaching the objective and of losing the bankroll are prepared.

For the fixed-fraction betting strategy, the optimal fraction (proportion) of bankroll is determined.

In compare to Kelly's arrangement, in which it is assumed that a competitor is a risk-averse bodily (so not a gambler) and which is applicable only to games with positive expected values, this arrangement has none of these restrictions. The optimality is determined in the following method. First of all, the optimal fixed-fraction bet should shrink the probability of ruin. In theory, if banknotes were "infinitely divisible, " the probability of ruin in fixed-fraction betting is nothing. The second impartial / criterion is to maximize the probability of reaching the established objective, and the third impartial / criterion is to maximize the expected value of the competitor's bankroll, theme to restrictions set by the previous criteria.

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