Thread: "Gambling" theory...

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Did anyone else catch the mistakes in Michael Hall's calculations for EV and the z-score? I'm sure they're just typos but the results he states are incorrect. After reading his excellent article on shuffle tracking I'm surprised to see this type of mistake go unnoticed.

All of the formulas are fine, he just makes some typos in his numerical example. Everything else is solid. I agree that all players should learn the “first principles” before getting too far into any particular system or mindset. These articles are perfect examples of the things that everyone should know and understand before trying to create or test a gambling system. These concepts are an essential part of having confidence in your skill and knowledge. Thanks to Garnabby and Katweezel for posting them here.

Garnabby, I think it would be best if you edited your post to fix the errors in the article so that people don't get confused or misled. Maybe you could make the corrections in red so that Michael could see his mistakes if he ever comes here. I would hate to think that memebers might be making costly mistakes by misunderstanding this material.

Originally Posted by garnabby

PROBABILITY AND GAMBLING

Here's a well-written little blurb about basic probability theory, fallacies, and the like:

https://share.acrobat.com/adc/docume...3-a9ad31a4ebe6 .

That’s a very good article that dispels many of the myths that gamblers fall victim to. I disagree with some of his statements about roulette and the citations from Jerry Patterson’s book are an ironic oversight, but the rest is well written and very easy to understand. This thread should be a sticky thread.

[Feel free to move this post if you want to keep this thread uncluttered.]

Originally Posted by Savant

That’s a very good article that dispels many of the myths that gamblers fall victim to. I disagree with some of his statements about roulette and the citations from Jerry Patterson’s book are an ironic oversight, but the rest is well written and very easy to understand. This thread should be a sticky thread.

[Feel free to move this post if you want to keep this thread uncluttered.]

There is a piece from Arnold Snyder on his website about Jerry Patterson. Few these days pay any attention to anything Jerry wrote or said in the past.

Originally Posted by JamesBracken

very excellent and interesting gambling theory.....
sports picks | betting system

Says who? Tell me... are you by any chance, making some money out of this by hawking it around websites? So this guy's system also gives the nags winners as well? That is interesting... How does the system know that horse has a headache or gutache today and does not feel like running fast? Shill.