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by **Bosox1** » Tue Jan 16, 2007 12:02 pm

Lets say you have a fair 100 sided die. You get to roll it once and if you get any number 1-99 you double your money, if you roll the 100 you lose. How much do you bet?

Now say you have a fair coin. A neutral person will flip the coin. You call it in the air and will win 10x your bet if you win and lose your bet if you lose. You can only do this once. How much do you bet?

by **excession** » Tue Jan 16, 2007 12:06 pm

Didn't you mean for the examples to have the same overall +EV (e.g. 1-90 win, 91-100 lose on the dice roll)?

by **Jarren** » Tue Jan 16, 2007 12:09 pm

by **black_knight6** » Tue Jan 16, 2007 1:11 pm

by **tunkpirate7** » Tue Jan 16, 2007 2:51 pm

by **Bosox1** » Tue Jan 16, 2007 3:00 pm

by **excession** » Tue Jan 16, 2007 3:23 pm

Wouldn't it be a better test of 'your gamble' if the EV was the same?

by **Dumb Snowman** » Tue Jan 16, 2007 3:29 pm

For number 1 I would probably bet my parent's house.

Number two I'd prolly bet like 1k-2k

by **Danhdan** » Tue Jan 16, 2007 4:45 pm

by **MVPSPORTS** » Tue Jan 16, 2007 5:38 pm

by **Felonius_Monk** » Tue Jan 16, 2007 6:08 pm

by **Schuster** » Tue Jan 16, 2007 7:58 pm

I'd sell everything I own and bet everything I have in both situations.

Lee

by **Bosox1** » Wed Jan 17, 2007 10:04 am

by **Bosox1** » Wed Jan 17, 2007 10:17 am

by **Schuster** » Thu Jan 18, 2007 1:11 am

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