Description

Almost everyone is familiar with Monte Carlo's association with gambling, and its famous Casino. Many may also have come across the Monte Carlo fallacy, so-called after the Casino's roulette wheel ball fell on black 26th times in a row, costing players, who believed that the law of averages made such streaks impossible, millions of dollars. However, the Casino also lends its name to a tool of statistical forecasting, the Monte Carlo simulation, used to model the probability of uncertain outcomes that cannot be easily predicted from mathematical equations.

This book provides a detailed account for how aspiring sports bettors can use a Monte Carlo simulation to improve the quality, and hopefully profitability, of their betting, and in doing so unravels the mystery of probability and variance that lies at the heart of all gambling.

Monte Carlo or Bust: Simple Simulations for Aspiring Sports Bettors

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£26.95

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Paperback / softback by Joseph Buchdahl

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Short Description:

Almost everyone is familiar with Monte Carlo's association with gambling, and its famous Casino. Many may also have come across... Read more

    Publisher: Oldcastle Books Ltd
    Publication Date: 02/12/2021
    ISBN13: 9780857304858, 978-0857304858
    ISBN10: 0857304852

    Number of Pages: 368

    Non Fiction , Hobbies, Games & Quizzes

    Description

    Almost everyone is familiar with Monte Carlo's association with gambling, and its famous Casino. Many may also have come across the Monte Carlo fallacy, so-called after the Casino's roulette wheel ball fell on black 26th times in a row, costing players, who believed that the law of averages made such streaks impossible, millions of dollars. However, the Casino also lends its name to a tool of statistical forecasting, the Monte Carlo simulation, used to model the probability of uncertain outcomes that cannot be easily predicted from mathematical equations.

    This book provides a detailed account for how aspiring sports bettors can use a Monte Carlo simulation to improve the quality, and hopefully profitability, of their betting, and in doing so unravels the mystery of probability and variance that lies at the heart of all gambling.

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