Book contents
- Frontmatter
- Contents
- Preface
- Acknowledgments
- 1 The Making of a Gambler
- 2 What Is Jai Alai?
- 3 Monte Carlo on the Tundra
- 4 The Impact of the Internet
- 5 Is This Bum Any Good?
- 6 Modeling the Payoffs
- 7 Engineering the System
- 8 Putting My Money Where My Mouth Is
- 9 How Should You Bet?
- 10 Projects to Ponder
- Glossary
- For Further Reading
- Index
8 - Putting My Money Where My Mouth Is
Published online by Cambridge University Press: 17 August 2009
- Frontmatter
- Contents
- Preface
- Acknowledgments
- 1 The Making of a Gambler
- 2 What Is Jai Alai?
- 3 Monte Carlo on the Tundra
- 4 The Impact of the Internet
- 5 Is This Bum Any Good?
- 6 Modeling the Payoffs
- 7 Engineering the System
- 8 Putting My Money Where My Mouth Is
- 9 How Should You Bet?
- 10 Projects to Ponder
- Glossary
- For Further Reading
- Index
Summary
It was time to put my money where my mouth was. The system was running well, more or less. Roger was busy with his summer job and then his fall classes, and thus the program wasn't destined to improve in the foreseeable future. The longer we waited, the more likely it was that some external event – maybe a hardware problem, maybe Milford changing its WWW site – would put us out of business for good. My On the Wire account was stocked with $250. It was time to put the system to the test.
A Gambler's Diary
On July 29, 1998, Maven made its first six bets for $3 each. I bided my time until late that night when I could call in to see how I did.
Your account balance is $263.50.
I was a winner! I could stop now and forever be ahead. But I was a winner! And I wanted to keep on winning.
The first few days I kept the bet amounts small as we ironed out timing problems with the autodialer. Still, risking even $20 gave me some pause.
Your account balance is $242.50.
This gave me a sinking feeling. I'd lost my winnings, and more. Was there a bug with my program? Would I ever go ahead again?
Your account balance is $264.40.
Your account balance is $261.40.
Your account balance is $258.40.
Your account balance is $272.80.
The autodialer was clearly working. The program seemed to be making money.
- Type
- Chapter
- Information
- Calculated BetsComputers, Gambling, and Mathematical Modeling to Win, pp. 174 - 186Publisher: Cambridge University PressPrint publication year: 2001