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> We did not really have an optimal betting strategy, at least nothing that can be proven scientifically, there is no such thing. Ah, but there is. http://en.
by settrans 16y ago
> We did not really have an optimal betting strategy, at least nothing that can be proven scientifically, there is no such thing.
Ah, but there is.
http://en.wikipedia.org/wiki/Kelly_criterion http://en.wikipedia.org/wiki/Kelly_criterion
- zb 16y agoThe optimal (Kelly) strategy for Roulette is not to play. It even says so on that wiki page.
- rollthedice 16y agoOne of the nearby casinos offers me $100 match play fairly often, which is a little certificate that I put $100 of my own money on top of. Let's say I bet black, if it lands red, I lose $100, if it lands black, I win $200, if it lands on zero, I lose $50, and have the opportunity to try again. 18/38 times I lose $100. 18/38 times I win $200. 2/38 times I lose $50, and get to try again. Without doing the math, I believe that puts the value of the cert around $47.
- rfrey 16y agoThe Kelly criterion is a money management strategy to maximize profit given a positive expectation, which roulette does not have and cannot.