I haven't found a way to do this. I'm not sure if it's been implemented or not, but doesn't seem that it has. I know there's a daily expenses box, but that doesn't seem to effect ROR/hourly/StdDev, N0, etc.
Norm, can you add an input for tipping that would effect the results...like have it included in the N0, ROR, etc.?
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
I've thought about this in the past. If you tip at all, you must do this in a manner that you think will bring you some gain or longevity. This will necessarily depend upon the situation at a particular time including your own feel for heat. I have some parms based on heat. But, I don't think that is simmable and won't pretend it is.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
Why wouldn't this be able to be simmed? What if someone who plays thinks tipping is the right thing to do? I know I can play a game with 75% pen...but if I tip some certain amount per hour (let's say $10) I can get the pen to 85% percentage. Surely I'd like to know which game is better [not just EV/hour, but SCORE, N0, ROR, etc.]....the $0 tip 75% pen game or the $10 tip 85% pen game.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
CVBJ supports tipping. I didn't put it into the sims because I don't think you should tip without a purpose. And, I see no way to define that purpose. Tipping on any regular basis is incredibly expensive.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
It can be very easy to define that purpose (of tipping). If I tip $10/hour I can get an 85% pen game and if I tip $0/hour I will get 75% pen. I can simply run two separate sims and determine which one best suits me.
That's what I'd like to figure out....how "incredibly expensive" it is.Originally Posted by Norm
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
Figuring out the EV is easy.
The rest is not so easy. If you know please help, how would I calculate Std Dev, ROR, SCORE, and N0 with tipping?
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
You don't have to sim it, tipping simply lowers your win rate by the hourly amount tipped. It lowers your SCORE by the hourly tip rate x the number of $10,000 banks your kelly bankroll contains. Thus if you have a $100,000 bank and tip $10 an hour and play 1/2 Kelly (Top bet of around 2@$700) then your $10 an hour in tokes lowers your SCORE by:
$10 / (($100,000 x 1/2)/$10,000) = $10 / ($50,000/$10,000)= $10/5 = a $2 reduction in SCORE.
Once you know the change in SCORE you can figure out how much longer N0 is because of your tipping. The variance of the game does not change because of the tipping. You are, however, decreasing SCORE, increasing N0, and increasing risk of ruin by some amount.
Last edited by bigplayer; 08-25-2015 at 05:49 PM.
Thank you very much bigplayer and Tthree. I think I understand your formula, but to clarify:
HOURLY_TOKES / ((BR * KELLY_FRACTION)/10,000) = decrease in SCORE ?
N0 = 1,000,000 / SCORE ?
How do I determine my new ROR? I've never really understood (and naively not cared) how to do all the formulas and whatnot. I've just always used CVCX.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
"Your risk of ruin is tied to your Kelly fraction."
Right. But specify that, once you fix the fraction, you don't resize future bets, as bankroll varies.
"1/2 Kelly has a 2.3% risk of ruin."
Close, but not quite. Full Kelly is 0.135 ROR. To find ROR for various fractional Kelly amounts, raise 0.135 to the inverse power of the fraction. So, for 1/2, do 0.135^2 = 1.82%.
"Pick up a copy of Don Schlesinger's book."
Good advice!
Don
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