Help me calcultate this

[Baath887]

Hi everyone,


I need some help calculating the net profit here, I'm not really good with probabilities:

Let's say I bet $100 flat on every play. Let's say I bet 3 plays per day, on average. Let's also presume that on average, my juice is -125. Let's take a sample of 1000 plays: if I win 60% of these plays, will I turn a profit with an average juice of -125? If so, how much?

Thanks in advance

[pulledclear]

If you cant figure this, DONT GAMBLE!

[hutennis]

You bet 100 to win 80
600 times you won 80
400 times you lost 100

48000 - 40000 = 8000

I don't mind helping.
One question, if I may. Which part was giving you the most trouble?

[Baath887]

You bet 100 to win 80
600 times you won 80
400 times you lost 100

48000 - 40000 = 8000

I don't mind helping.
One question, if I may. Which part was giving you the most trouble?

Thanks,

But you took into consideration that each play would be -125, which will not be the case, and that's the part that caused me trouble: the average juice. I thought maybe there would be some other type of calculation to include the average juice, but thanks!

[hutennis]

Well, average is average. You don't need anything else. By definition. Right?

Also. -125 is not a juice. It is odds. Two different animals.

[Aussiefalconfan]

Pretty sure that's the answer you were looking for there no way to determine the variable without knowing it ergo the meaning of the word average

[Baath887]

Well, average is average. You don't need anything else. By definition. Right?

Also. -125 is not a juice. It is odds. Two different animals.

Ok perfect, thanks for your help!

[nikossf]

Pretty sure that's the answer you were looking for there no way to determine the variable without knowing it ergo the meaning of the word average

Cmon people...Really??? Op how are you asking for this figure when your entire basis is strictly from an "AVERAGE".

AVERAGE; DEF: a quantity, rating, or the like that approximates anarithmetic mean.

Key word here is APPROXIMATE,..Trying to get a total figure based on your approximate amount??? How is this possible to begin with?

[hutennis]

When you post a quote please don't make any alterations to it just to build some sort of weird case. It is not kosher.

The full quote is:

a quantity, rating, or the like that represents or approximates an arithmetic mean.

In a simple case, like OP, providing that average is calculated correctly, which I take at face value since I don't really care,
it represents and not approximates, and thus all is ever needed.

[Baath887]

Cmon people...Really??? Op how are you asking for this figure when your entire basis is strictly from an "AVERAGE".

AVERAGE; DEF: a quantity, rating, or the like that approximates anarithmetic mean.

Key word here is APPROXIMATE,..Trying to get a total figure based on your approximate amount??? How is this possible to begin with?

Well that's why I was asking in the first place, I wanted to see if it would be possible to estimate the ROI with 1000 plays at an average of -125. So you're saying the numbers hutennis put up are false in his calculation?

[MDRTYson]

You bet 100 to win 80
600 times you won 80
400 times you lost 100

48000 - 40000 = 8000

I don't mind helping.
One question, if I may. Which part was giving you the most trouble?

Wow... Here I was thinking "man that guy Hutennis is quite the contrarian" based on a couple of other threads and then I flip over here to see this, which is more reflective of how I originally viewed the community aspect of the site when I joined.