vpFae wrote:
After considering the public and private responses to
the appropriateness of the terminology in the vpFREE
Video Poker Equation, the Administrator and I have
decided against making any changes and will continue
with: EV = [ER] X [coin-in]
Unfortunately, that means that I will not be able conform to your
"standard" for any posts I may make. Since I have several books, 13
years of newsletters and a popular analyzer/trainer program based on
the same definition of EV used by Stanford Wong, Arnold Snyder, Lenny
Frome, and most definitions I have found on the internet, I will have
to continue using EV as a term that is relative to the bet size
rather than a number of coins or a dollar amount. Thus,
Player's Advantage (or "Edge" if you prefer) = EV - 1
and
Expected Gain = ( EV - 1 ) x Action
where Expected Gain and Action are both in the same monetary units
(e.g., dollars, francs, pounds, gilders, coins, etc.), and Action is
the total of all wagers over the period in question. This allows the
same value for EV to be used with any monetary units. If EV = 1, then
we can expect zero gain or loss average in the long run. If EV < 1
then "Expected Gain" will be negative, indicating an expected loss.
For this to work correctly mathematically, EV can not have any units.
For example, if our unit of measurement is "coins" and EV were a
number of coins, we would have
Coins = (Coins)^2
which would be meaningless. Thus, EV must be expressed as either a
decimal number or a percentage without units.
This is not to criticize the administrator or anyone else here, but
only clarification so that all of my past and future writings will be
intelligible to the reader.
Dan
ยทยทยท
--
Dan Paymar
Author of best selling book, "Video Poker - Optimum Play"
Editor/Publisher of VP newsletter "Video Poker Times"
Developer of VP analysis/trainer software "Optimum Video Poker"
Visit my web site at www.OptimumPlay.com
"Chance favors the prepared mind." -- Louis Pasteur
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