http://betting.betfair.com/education/-generic-betting-principles/10-maths-and-stats/ en Copyright 2009 Thu, 31 Jul 2008 12:30:28 +0000 http://www.sixapart.com/movabletype/ http://www.rssboard.org/rss-specification In a previous article we talked about regression to the mean as a way of looking at gambling in the long term. Here we will use the theory to talk about a significant and interesting point of gambling within a population. A better view is provided with a good example in the stock market industry.

]]> http://betting.betfair.com/education/-generic-betting-principles/10-maths-and-stats/jumping-on-board-the-winners-310708.html http://betting.betfair.com/education/-generic-betting-principles/10-maths-and-stats/jumping-on-board-the-winners-310708.html Thu, 31 Jul 2008 12:30:28 +0000 Often confused in the gambling fraternity with the law of averages is the theory of regression to the mean. Theory of regression to the mean suggests that if a player (gambler or team) performs significantly better or worse than normally expected, then in the future, he will return to the average expectation of that player (gambler or team). The difference is small, and is different from that of the law of averages, but the definition above can be misinterpreted easily.

]]> http://betting.betfair.com/education/-generic-betting-principles/10-maths-and-stats/regression-to-the-mean-310708.html http://betting.betfair.com/education/-generic-betting-principles/10-maths-and-stats/regression-to-the-mean-310708.html Thu, 31 Jul 2008 11:47:11 +0000