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Standard Deviation for even money

Started by Winner, Jan 21, 10:57 AM 2019

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0 Members and 1 Guest are viewing this topic.

Winner

What would be the best std 1 2 or 3

Firefox

I don't understand the question.

Standard deviation is expressed as SQRT (npq) where n is the number of trials, p is the probability of winning and q is the probability of losing.

As the number of trials increases, the standard deviation gets smaller in proportion to the mean, so results regress towards the mean (law of large numbers).

The General

Quote from: Winner on Jan 21, 10:57 AM 2019
What would be the best std 1 2 or 3
Why do you feel calculating the standard deviation would help you?

You know you need to be very careful with standard deviations because someone could lose an eye!
Basic probability and The General are your friend.
(Now hiring minions, apply within.)

Ross

What you're discussing here is not
Standard Deviation.

Seems to be a common mistake here.
Eighty- four and counting.  Is age an excuse?

Firefox

I've noticed people also discuss varience which should mean the square of standard deviation, but they don't mean that, they mean losses due to short term volatility, rather than losses due to house edge. It's related to mathematical varience, but not quite the same.

ego


I can answer this if the topic is still alive.
You can use the STD to get observations and understanding about how the strength and weakness work.
Easy to play RX non-stop and feel the strength.

You just have to understand the basic concept and I can describe it.

Cheers
Denial of gamblers fallacy is usually seen in people who has Roulette as last option for a way to wealth, debt covering and a independent lifestyle.  Next step is pretty ugly-
AP - It's not that it can't be done, but rather people don't really have a clue as to the level of fanaticism and outright obsession that it takes to be successful, let alone get to the level where you can take money out of the casinos on a regular basis. Out of 1,000 people that earnestly try, maybe only one will make it.

Firefox

Quote from: ego on Feb 15, 11:47 AM 2019
I can answer this if the topic is still alive.
You can use the STD to get observations and understanding about how the strength and weakness work.
Easy to play RX non-stop and feel the strength.

You just have to understand the basic concept and I can describe it.

Cheers

You can use STD to express how far from the mean loss (in a negative expectation game) you are, as related to the number of trials  (spins).

One STD 66% confidence, two 90%, three 95%, >96% four or more.

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