Thread: Berts stats
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Old 14th July 2002, 10:28 AM
becareful becareful is offline
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Join Date: Jan 1970
Location: Canberra
Posts: 730
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Bert,
The reason is very simple. If we know your strike rate of all selections then we can easily work out what the probability is of your system failing to pick a winner for the whole day (or within the number of bets which will lose you your whole bank). Once we find out what this probability is we can see how often that event is likely to happen.

Do you even acknowledge that it is possible for you to get no wins for a given day or is your horse selection so perfect that it is impossible for you to get no winners????

I seriously suggest you sit down one day and work out a few different scenarios based on the number of bets per day. eg. If you have 30 selections for the day what is the probability that you will get no winners over $4.00 and what will the average loss be if that occurs. Repeat that for 40 selections, 50 selections, etc. (The higher the number of selections the lower the chance of getting no winners but the higher the potential loss). Then work out what the chance that one of these events could have occurred in the last 9 months (I know it hasn't for you but what if it did) - what would your profit be if it had happened 1 or 2 or 3 times??

Of course if you truly believe you are invincible and cannot miss then good luck to you - just watch out for the bus coming down the road!

[ This Message was edited by: becareful on 2002-07-14 10:29 ]
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