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.
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.
This book presents the refereed proceedings of the 13th International Conference on Monte Carlo and Quasi-Monte Carlo Methods in Scientific Computing that was held at the University of Rennes,...
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and...
Title: Monte-Carlo.Publisher: British Library, Historical Print EditionsThe British Library is the national library of the United Kingdom. It is one of the world's largest research libraries holding...
This book represents the refereed proceedings of the Ninth International Conference on Monte Carlo and Quasi-Monte Carlo Methods in Scientific Computing that was held at the University of Warsaw...
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