Quote:
Originally Posted by Tanqueray
Days of Our Lives at the poker table - who woulda thunk it?
That's a lot of drama conjured up for not folding pre with KK. Is this some kind of level?
Given a $1.05 overlay for each $1 wagered on a coin flip, you'd certainly be smart to take the bet even if you had as little as $100 on you at the time, as it would just be a function of the varying number of flips you would need to complete before you won all the money.
But ask the same number people if they'd be willing to risk their entire bankroll, life savings, etc. for an even money payout in a situation where they are a 7:3 favorite would get you a lot of 'no thanks' as the fear of losing everything 30% overwhelms their decision making. Kelly Criterion would also discourage taking this proposition.
I didn't realize my advantage was so high, especially if I was confident of V1's range (which doesn't mean my assessment is 100% correct - V1 can have made adjustment to KK+, AK only which would change advantage edge). Again limited sample size is maybe not most reliable indicator, but it's what I had going into decision.
Yes, shoving with KK pre is only difficult in a handful of situations, majority of time it's just short of a no-brainer.
But given earlier coin flip scenario, where you might now only get $0.98 on third successive win and/or you have to pay $1.05 on third successive loss changes dynamics as to whether this is really +EV over the long run.
If V1's PF shove range has shrunk, then lesser (if any edge) on 3% of total bankroll can have reasonably statistically viable negative outcomes, i.e. Risk of Ruin (RoR) or significant losses (25-30% of total BR) that are still within 2-3 STDVs even within a near, short(er) term as opposed to having infinite time and infinite opportunities to balance out variance fluctuations.
If V1's PF shove range vacillates between KK+, AQ+ and KK+, AK with unknown frequency, then risk models are even more uncertain.
Last edited by sam7595; 06-02-2021 at 03:41 AM.