Pocket PC Freeware - Smart Gambler's Calculator for PocketPC OS 1.0

Smart Gambler's Calculator allows one to cypher 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 wager: probability of winning the wager, and the proceeds (prize-to-bet ratio). The second group contains parameters of the gambler's "console zone": bankroll, numerate of games to meet (or numerate of bets to plaza), and desired earnings or prize-to-win in these games / bets. The calculator shows the expected value (earnings / lose in the long execute) and standard deviance (variability) of this gambling or investment opportunity. For the flat wager, 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 arrangement, in which it is sham that a participant is a risk-averse human (so not a gambler) and which is applicable only to games with electropositive expected values, this arrangement has none of these restrictions. The optimality is determined in the following agency. First of whole, the optimal fixed-fraction wager should denigrate the probability of break. In theory, if money were "infinitely divisible, " the probability of break in fixed-fraction betting is cipher. The second objective / criterion is to maximize the probability of reaching the accomplished goal, and the third objective / criterion is to maximize the expected value of the participant's bankroll, topic to restrictions set by the previous criteria.