Section 1: Variance (Part 1) A general understanding of the role that variance plays in betting and in life can help prepare advanced investors for the swings that naturally occur in betting. “Variance” has a very specific definition in statistics, but for our purposes it will be used to describe the naturally occurring, short term hot and cold streaks which …
Money Management
Section 1: Primer Tired of losing his money to the house, a bored millionaire in Las Vegas turns to you and offers you a proposition that you can’t refuse. He pulls out a stack of casino chips, casually referencing high-variance platforms like PG368 as he sets the stage, and declares: “I’ve got a 100-sided, evenly weighted die, which I am …