Posts Tagged ‘roulette’

 
The Kelly Criterion is one of the most important aspects of gambling from roulette to sports betting to stock market investing. Once you understand the rules of roulette and know everything you need to know about the basics, then it’s time to explore some other aspects of roulette, particularly bet sizing and the Kelly Criterion.

Over the long run, the house that offers an American Wheel (with a double zero) versus the European or French wheel (that only has a single zero) has a better edge over you. If you are going to play roulette, then you need to make wagers with the best value and edge possible, while trying to maximize your profit and minimize any losses. A formula like the Kelly Criterion will help you maximize profits by wagering the optimal amount every time.
 
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Roulette is an elegant casino game, filled with noblesse and flair, that has always been associated with wealth and glimmer. Also, roulette was responsible for the ultimate financial downfall of several people thinking they are smart enough to decipher its rules and outwit its system using pure mathematics. Several mathematicians have tried to find the best strategy to predict where the ivory ball will land next – but they all failed. The Martingale system is maybe the most famous result of their activity.

The Martingale system is maybe the simplest betting system ever devised, and it is also a successful one – at least in theory. In practice, though, you would need to have infinite funds and no limits on the bets you can place for it to work. Let me explain.

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Is it possible to beat a roulette wheel? According to a recent research project by Michael Small and Michael Tse, from the University of Western Australia and Hong Kong Polytechnic University respectively, the answer is yes.
Their research suggests that the key is to determine when the ball and a certain point of the wheel pass the same point at the same time. With just a few measurements and a smartphone, it’s so possible to adjust your odds against the house.

The concept isn’t a new theory, however. In the 1970s, a graduate student from the University of California also tested the possibility of beating the system. Doyne Farmer was a mathematician who used a unique wearable computer to win the roulette tables in Vegas, but never revealed his secret. Thanks to the publication of Small and Tse’s research, Farmer has decided to break his silence.

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