Roulette Analysis

Markov Chains

The most useful tool in our analysis for this project happened to be Markov Chains. This stochastic process is great for analyzing state transition probabilities, which turns out to be a great fit for games of chance. We closely examined the stationary distributions associated with our Markov Chains to gain inference about each betting strategy in the long run.

Matlab

Matlab is an incredible language for mathematical modeling and computations. Luckily for our group, Matlab provides built in matrix operations which made for a smooth modeling phase during our project. I programmed a function that could generate any size transition matrix necessary for our analysis and we were able to test each betting strategy accordingly.

Analyzing Betting Strategies

The objective of this project was to examine different roulette betting strategies and determine which were most optimal for the player. Our group experimented with betting single numbers, red/black, dozens, and six line bets.