Variance in Roulette - does it exist? -Discuss

[Chrisbis]

Variance in Roulette - does it exist? -Discuss

Recently, there has been a much read & debated topic, about how to create your own HG based on your BetSelection.
And contained within those threads, the heady subject of Variance came up several times, interwoven alongside Maths Expectation and SD (Standard Deviation).

The purpose of this mission, (should you choose to accept it), is discuss this premise.........
^Does Variance exist as a real avoidable entity, or, is it, as prescribed by at least ONE Roulette expert, indeed,
only a past measurable quantity, that has no bearing on future events?^

Your thoughts please........

[nottophammer]

you first Chrisbis

[Chrisbis]

Thanks there Notto......

For me.....its a no brainer....... Variance is/has real value, and an entity we must not only be aware of, but have an array of ammunition to handle it.

I fully see where Steve is coming from, in the world of VB & ball placement predictions, since in reality, Variance for those players/users does not occur, as it is automatically taken care of in the mechanics of what their computer systems do.

That said, this leaves us "standard" players (who don't want, or won't ever own a prediction gadget), in a small quandary as to how to prove that the past statistical analysis of Game Variance has a role to play in the future events of the current game in play.

[Steve]

First define variance. Exactly what are you meaning by it? It could refer to a few things.

[Steve]

if you mean something like amount of wins and losses, thats just a statistics that doesnt tell you anything about future spins.

If you mean balance and spread of reds or blacks, again the past RB results dont help predict future RB. The variance is again just a statistic, not a variable. It has nothing to do with the wheel and ball.