Attempt to find out how to set up an effective excel formula(s) to solve......

[petermsk]

Hi,

I am learning excel and attempting to find an effective excel formula to solve the below question without much success.

What I’d like to know is what kind of excels functions learning (what do I need to learn) that involved for setting up an effective formula to check and see if the following betting strategy would work for every 260 or so hands:

+10 +20 +10 -20 +20
+10 -20 -30 -70 -150
-10 -30 -70 +150 +10
-10 -30 +70 -10 +30
-10 +30 +10 -20 +30

The chart above (from left to right) has 5 rows that represent five different scenarios, and it always starting with 10 for the "First-hand", and it carries on this way – For the "first-hand", always bet on 10, and if wins, bet 20; if loses, bet 30 on the second-hand. If the second-hand wins, bet 10 (the third-hand); if loses, bet 70 (the third-hand).

[Negative progressive betting] If the third-hand wins, bet 20 (the fourth-hand); if loses, bet 150 (the fourth-hand). [If the fourth-hand loses, then losing 260 in round one, it will go back to the "First-hand" of 10, and starting the next round and so on].

[Positive progressive betting] If it happens to be only losing the third-hand (at the worst case) but keep winning on the fourth-hand WITHIN 26 or so hands, it'll win 260 in that winning round, and it then keep betting +1, +2, +1, +2 pattern till the next losing hand to finish. Then, the next round starts again..... And so on.

My question is which excel functions and formulas that do I learn and use, in order to set up such betting system (above) and check if it is viable for every 260 hands?

PS It starts with these basic……
=RAND(),
=if([=RAND()]<=0.5,10,-10),
Bankroll is 2,600 (for every 260 or so hands)

[jomaor1]

So you don't want the answer, but rather the formulas? Ok...

You will need to learn IF Functions (IF, IFS, COUNTIF, COUNTIFS, SUMIF, SUMIFS, IFERROR)
INDEX, MATCH, and maybe VLOOKUP/HLOOKUP
And how to do multiple Formulas inside Formulas (specially IF inside IF)

You can approach this problems by several ways, my way would something like this:

- Create a small reference table, to help IF Formulas to decide whether and how much you should bet.
So a table with Two Rows, one with "IF WINS" and one with "IF LOSES", and carry some values on the next columns for each instance of bet.

Afterwards I would create the table for the values, and always include an "IF" in the formulas to test if the value went bigger than 260.

[petermsk]

Hi John,

Thank you for your reply. Very much appreciated.

When you say if within if, do you mean nested-ifs?


Yes, of course. I want the effective formula answer, because my actual goal is go to test 9,500 hands at each run.

Therefore, I wonder if you are able to set it (the effective formula) up in the attached file [But only with 260 hands, for too big to upload here, and the cells within the chart are custom formatted].

THANK YOU!

[petermsk]

upload the file with random 9,500 hands......