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    13 views17 pages

    Tog4 PDF

    Uploaded by

    Clodualdo Iv Dela Cerna

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 17
    Section Four Money Management The importance of money management and bet slz- ing has been stressed increasingly in recent years and rightly so. For even if the player has discovered a favorable betting situation, how he wagers determines. his success or failure. Ultimately itis the “bottom line” ‘on which a gambler’s performance Is judged. 1's tine, of course, to describe the favorable situation toa friend or business associate, but the next question is likely fo be “How much money are you making from this situation?” ‘The problem for the gambler is that much of the ad- vice on money management is conflicting or confus- Ing, or simply based on false premises. There are nun- dreds of schemes designed to overcome the house ‘edge in roulette and craps based solely on manipulating the size of one's bets. AS will ba saan, all such attempts are futile Even assuming the player has discovered a favorable {game (le, one offering a positive expectation), the ques- tion naturally arises: How does one best use a limited amount of capital to exploit this positive expectation? Wager too boldly and the player risks losing his entire uw The Mathematics of Gandling bankroll, even though he or she may have made only favorable bets, This #2 commonly known ae gamblers ruin. On the other hand, betting too conservatively the player severely limits his opportunity to make a good return on his capital. Fortunately for the player, there exists a mathematical theory for committing resources in favorable games. This will be discussed in Chapter 9. n Chapter 8 Mathematical Systems Before looking at the optimal strategy for exploiting a positive expectancy situation, it may be worthwhile o evaluate what I refer toas mathematical ystems. Although here I use rouleteas an example, the principles apply equally to craps and the Wheel oT Matematica syste” were he pay 5 system” Imean a stem wherethe pier decides which bet to male sng onl the flowing ifort ‘U)arecordof what nunbersbavecomeuponsomenumbe of pest spins, and (@) arecord ofthe bes he ha made if any. on hos sins. ‘We assime hee tat when te plas bet, fr him sl ambers are equally likly to come up on each spin ofthe whee. Tis sean not using bised wheels or pial prediction metho ‘Roulette har long ben the prototype of unbeatable embing sas. es normal regarded a a repeated independent is res which generate at each rl precisely one froma et Of Fandom numbers. Players may wager on particular subsets of Fandom numbers (ea te fist oven, even, an india rumber ct), win ithe number which comes upsantumber Of the chosen subset. player may wager on several subsets w The Mathematics of Gambling sirmltaneously and each bet is settled without references to the thers, TO fx the dscusiot let's consider the standard ‘American wheel. This hs thity-

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