Quote:
Originally Posted by nahh12
it took him a new thread and a wall of text but newoldguy finally understands what EV is.
That was never a question other than the philosophical one I raised, but I did calculate the bonus strategy wrong and you were right. I stand corrected.
I don't see where anyone ever went back and did the full scenario you originally posted in post #1, using a single number bet on a single zero wheel.
36/37 you lose your $60 deposit.
1/37 you collect $150 * 36 = 5400, and your cashout net is less your deposit of 60, and less the playing requirement of (150 * 47 * 1/37) = 190.54. So your net win is $5149.46
Therefore your EV on that scenario is (1/37)(5149.45) - (36/37)(100) = $41.88. Positive.
Maybe I got it right this time. The Internet is fun.
Last edited by NewOldGuy; 03-30-2014 at 10:56 AM.
