You can see that Player 3’s bankroll had more pronounced fluctuations while Player 4’s bankroll experienced the highest peaks and lowest valleys. This can be largely attributed to those players having small base betting units. So, what do we see? Well, one thing that stands out clearly is that the bankrolls of players 1 and 2 remained relatively stable. Take a gander at the graph below to find out how each player’s bankroll was affected. Each player begins the simulation with a $1,000 starting bankroll. The third player will use $3 units, and the fourth player will wager $5 units. The test will feature 4 fictitious players, with the first two players placing $1 bets. Let's set the probability of winning at 2.7% and, accordingly, losing - at 97.3%. We will put the straight-up bet to the test using Google Sheets and a random number generator to simulate a 500-round session. As far as making any recommendations goes, we will leave you to interpret the results and make your own decision.
We will start our examination of straight-up bets by seeing how effective they are over the long run.
