EV

[southerndog]

[southerndog]

[ QUOTE ]
Your standard deviation for 1 million plays is greater than your standard deviation for 1000 plays, which is why your spread is bigger after 1 million plays, but your standard deviation per play is actually smaller after 1 million plays, which is why your average play will be closer to $1. This is because when you go from 1000 plays to 1 million plays, your standard deviation for all of those plays does not increase as fast as your average win for all of those plays.

[/ QUOTE ]

How do you know his average win is even increasing?

[BruceZ]

How do you know his average win is even increasing?

This is assuming an EV of $1/hr. The EV is constant, the average win increases, the actual hourly win fluctuates but over time approaches $1 per hour.

[slider77]

I'm not sure the context you are using it, but it is the average expected outcome of an event.