vpFREE2 Forums

How far do you go with EV?

#1

I was chatting with a fellow VP player about EV and he mentioned that he was finding himself doing "EV" calculations in his daily life (restaurant choices, driving routes, etc).

VP has done that for me as well, and here's an example. I stopped picking up nickels and dimes from the ground about two years ago. And I soon will reach the point where I will stop picking up quarters.

I have occasional back issues, and it "goes out" about once a year. I figure if I bend down to pick up a dime 1,000 times over the long-term, I will most certainly throw out my back at least once doing so. $100 is far outweighed by the suffering of one such incident. So a dime on the floor represents significant negative EV for me.

#2

Interesting topic, but I have been doing this type of cost/benefit analysis long before I discovered video poker or it discovered me.

#3

I'm notorious for making bad bets when the upside is very likely but
the downside is much greater. To save a little time, I risk missing
boats and airplanes. To get a little cheaper gas, I risk running out.
Making good bets in gambling is easier because they're more calculable
than in areas where judgment is involved.

C wrote:

···

I was chatting with a fellow VP player about EV and he mentioned that he was finding himself doing "EV" calculations in his daily life (restaurant choices, driving routes, etc).

VP has done that for me as well, and here's an example. I stopped picking up nickels and dimes from the ground about two years ago. And I soon will reach the point where I will stop picking up quarters.

I have occasional back issues, and it "goes out" about once a year. I figure if I bend down to pick up a dime 1,000 times over the long-term, I will most certainly throw out my back at least once doing so. $100 is far outweighed by the suffering of one such incident. So a dime on the floor represents significant negative EV for me.

#4

Life has events which are far too serious (with non-negligible probabilities) to have an expectation.

I’m notorious for making bad bets when the upside is very likely but

the downside is much greater. To save a little time, I risk missing

boats and airplanes. To get a little cheaper gas, I risk running out.

Making good bets in gambling is easier because they’re more calculable

than in areas where judgment is involved.

C wrote:

···

—In vpF…@…com, <007@…> wrote:

I was chatting with a fellow VP player about EV and he mentioned that he was finding himself doing “EV” calculations in his daily life (restaurant choices, driving routes, etc).

VP has done that for me as well, and here’s an example. I stopped picking up nickels and dimes from the ground about two years ago. And I soon will reach the point where I will stop picking up quarters.

I have occasional back issues, and it “goes out” about once a year. I figure if I bend down to pick up a dime 1,000 times over the long-term, I will most certainly throw out my back at least once doing so. $100 is far outweighed by the suffering of one such incident. So a dime on the floor represents significant negative EV for me.

#5

My educational background, and career, are solidly grounded in the principals of finance. So, the fact that I later became an EV-driven vp player didn’t have much impact on my overall perspective when it comes to economic choices in life.

However, for both Bev and myself, “EV” has definitely taken on a new connotation. Being EV focused in our play, we tend to regard some of the trip “peripherals” as incremental enhancements to the play EV …

In isolated instances where we might be able to convert a spa coupon to a bounty of merchandise (in lieu of services), or have a host who throws a bone in the form of a comp to the casino store that has a sale on post-seasonal merchandise on which we clean up, or some similar merchandise gimme – invariably we hold up our booty afterwards, smile, and cry “EV!”

···

—In vpF…@…com, <clementiyn@…> wrote:

I was chatting with a fellow VP player about EV and he mentioned that he was finding himself doing “EV” calculations in his daily life (restaurant choices, driving routes, etc).

VP has done that for me as well, and here’s an example. I stopped picking up nickels and dimes from the ground about two years ago. And I soon will reach the point where I will stop picking up quarters.

I have occasional back issues, and it “goes out” about once a year. I figure if I bend down to pick up a dime 1,000 times over the long-term, I will most certainly throw out my back at least once doing so. $100 is far outweighed by the suffering of one such incident. So a dime on the floor represents significant negative EV for me.