Toonces wrote:
is like betting $100 on "00" on the roulette wheel, arguing "I'm giving up only $7 in EV for a 1 in 38 chance at $3500".
Where does the - $7 EV value come from?
cost of royals, revisited
--- In vpFREE@yahoogroups.com, "John.G.Zaroff" <John.G.Zaroff@d...>
wrote:
Toonces wrote:
>is like betting $100 on "00" on the roulette wheel, arguing "I'm
giving up only $7 in EV for a 1 in 38 chance at $3500".
Where does the - $7 EV value come from?
Oops...I remembered my roulette odds incorrectly...the house
advantage on a $100 roulette wager is actually $5.26, not $7.