Standard Deviation

[Exitonly]

Was looking around on the forum, couldn't find anything on here about what to look at when you track your winnings. I keep recrods of all bets seperated into type and sport, and i get the average/standard deviation for each type and overall.. What should i look for? Obviously i want a positive/high average, but for standard deviation, not sure what a good one would be.. lower is better, but what's a good range?

[tech]

Which variable are you talking about? Winning percentage?

[Exitonly]

ack sorry, units won. Is that even a smart thing to look at?

[tech]

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ack sorry, units won. Is that even a smart thing to look at?

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Sure. Ultimately that is what you are after -- units won. If you are going that route, you would probably want to look at units won over some time period, months perhaps, depending upon how often you bet. You would probably need quite a bit of data to do that. For example, if you are looking at units won per month, you probably need at least a couple of years worth of data to get any sort of meaningful average and standard deviation.

Since I almost always use flat bets, winning percentage is the primary statistic of interest for me. I try to look at approximately how much my winning percentage should vary over a given number of bets and things like that.

[Exitonly]

Alright that makes sense, thank you