Free Palm Soft - Smart Gambler's Calculator for Palm OS 1.0

Smart Gambler's Calculator allows one to figure 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 stakes: probability of winning the stakes, and the reward (prize-to-bet ratio). The second group contains parameters of the gambler's "ease zone": bankroll, act of games to drama (or act of bets to send), and desired lucre or prize-to-win in these games / bets. The calculator shows the expected value (lucre / lose in the long go) and standard diversion (variability) of this gambling or investment opportunity. For the fastened stakes, 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 scheme, in which it is arrogated that a histrion is a risk-averse human (so not a gambler) and which is applicable only to games with plus expected values, this scheme has none of these restrictions. The optimality is determined in the following ways. First of completely, the optimal fixed-fraction stakes should minimise 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 constituted goal, and the third objective / criterion is to maximize the expected value of the histrion's bankroll, issue to restrictions set by the previous criteria.