Re: Has anyone come up with a ROR formula that includes...
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Has anyone come up with an ROR formula that includes the effect of not knowing your "true" win rate?
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Now, I realize there are formulas both for ROR calculation based on bankroll and WR, and formulas for determining the level of confidence for your WR based on your current WR and the number of hands played. I am wondering if anyone has combined the two.
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The concept isn't too hard, though the execution may be. Just integrate, over all possible win rates, the ROR formula multiplied by the normal density based on your sample.
If it turns out to yield a readable formula, this would be very interesting. Nice question!
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