For 54% win rate one can have a 3.09% ROIQuote: bigpete88
I am guessing that the standard deviation will be less at 9% ROI than 3% as 7Craps had spelled out.
Odds at -110 to win 100 just for this example.
For those who are good at betting math? What's the odds that someone who is a $500 sports bettor (-110) is up $5000 after only 150 bets places?
What's the odds this is chance (assume 50/50 odds for each bet) vs skill (bettor has an edge somehow)?
good question, imoQuote: bazooooka
What if it took 1500 bets instead of the 150 would that imply skill (albeit very slight) since one is only getting 10 units of profit after 1500 bets? Or would a good run last this long?
I say 1500 is a small sample sizeQuote: bazooooka
At some point things head to 50/50 and the vig crushes you but when can we see if it's skill vs luck.