JohnWright:

Quote:

“I don't think math is even required to show you have no idea what you're talking about.”

Finally, someone in this community who can assemble two or more coherent sentences...without mouth foaming or screaming. Or, is it? NOT!  BRRRRRRRRAHAHAHAHA....

You might want to update your knowledge. The Fundamental Formula of Gambling (FFG) represents the foundation. FFG is no longer the subject of debate. It is now widely pirated and plagiarized. Even average school kids can prove the validity of FFG by performing the simplest and easiest of random events: Coin tossing.

FFG introduces a new fundamental concept: Degree of Certainty (DC). The concept is now more and more adopted. Even years after I published the Formula, all Internet searches on ‘degree of certainty’ listed only my page. Now, you can find thousands of references to ‘degree of certainty’.

Still, many people haven’t heard of FFG. They still confuse two of the fundamental probability parameters: Probability (p) and Degree of Certainty (DC).

Probability (p) in itself is an abstract, lifeless concept. Probability comes to life as soon as we conduct at least one trial. The probability and degree of certainty are equal for one and only one trial. After that, the degree of certainty rises with the increase in number of trials (N), while the probability is always constant. No one can add sides to the coin or subtract faces from the die! Yet, you won’t be able to toss 10 heads in a row in, say, 20 trials with the same DC as tossing just five heads. Or, can you? I promise, p will always be ½ or 0.5. Nobody will take it from you…

Every random event consists of trials. The successes or losses come in streaks. The length of a streak or the skip between like-hits is most precisely calculated by the Fundamental Formula of Gambling.

Apparently, you already visited my website. No need for me to delve any further into modern aspects of probability theory. Besides, I am prohibited from offering links to my website.

Ion Saliu,

Fundamentally At-Large