Use the variance calculator when you’re on a losing streak.
Despite its shortcomings, the variance calculator is a useful tool for estimating how much money you could lose during a slump.
Although if there’s not much you can do about variation once it’s here, there are tools at your disposal that can help you turn it into an advantage.
There is a lot of literature on what to do when the negative trait is present. During their break, some players say it’s essential to raise the decibel level at the tables to drown it out. A third camp is interested in studying recessions in detail to determine what lessons may be drawn from them.
The perfect accessory for every grinner.
Recently, Barry Carter, co-author of The Mental Game books, examined the benefits and drawbacks of variance calculators in terms of estimating potential financial losses in the event of a string of unfavorable outcomes.
“Playing with a variance calculator is something I recommend highly to everyone. Phil Galfond recently made the statement that everyone “runs” worse than they think they can.”
Even though Carter indicated that tweaks may be done to attempt to include characteristics that don’t presently exist, he claimed to be going through one of the biggest downswings of his career and that this tool helped him estimate the best and worst case scenario as well as his danger of bankruptcy. He suggests you get the free version from PrimeDope.
“For one, they don’t account for changes in buy-in levels. It’s important to consider the fact that many players experience a decline in level during a losing streak. The good news is that variance calculations don’t consider the ways in which the vast majority of players can and should become better. Theoretically, our return on investment ought to increase as we go through our sample of 2,000 events. The only catch is that our rivals should also be becoming better, so the real issue is whether or not I will be getting better at a quicker rate.”