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    3. Monte Carlo or Bust: Simple Simulations for Aspiring Sports Bettors

    Monte Carlo or Bust: Simple Simulations for Aspiring Sports Bettors

    Posted By: yoyoloit
    Date: 16 Mar 2022 04:26:11
    Monte Carlo or Bust: Simple Simulations for Aspiring Sports Bettors

    Monte Carlo or Bust: Simple Simulations for Aspiring Sports Bettors
    by Joseph Buchdahl
    English | 2021 | ISBN: ‎ 0857304852 | 369 pages | True EPUB | 29.97 MB

    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 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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