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Maths: +EV coin flip game - how much to bet? Maths: +EV coin flip game - how much to bet?
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11-10-2013 , 11:36 PM
#26
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plaaynde
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And how could we accept to play this game? We should send the honorable man to Gamblers Anonymous, or ask him to do a full checkout of the content of his head.
Maths: +EV coin flip game - how much to bet? Quote
11-11-2013 , 05:21 PM
#27
qazxsw
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so he wrote it wrong, or at least awkwardly. who cares? you get your bet back, plus 1.6x. the question is applicable in poker. you're playing a fish that you have a huge edge on and can control pot size. how much do you bet, knowing he'll leave after some random amount of time, not wanting to bust and wanting to maximize profit, assuming a 30 percent roi.
Maths: +EV coin flip game - how much to bet? Quote
11-11-2013 , 07:46 PM
#28
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Quote:
Originally Posted by qazxsw
so he wrote it wrong, or at least awkwardly. who cares? you get your bet back, plus 1.6x.
Not according to the OP you don't. His last post makes it clear you get your stake back + 0.6x. He said on a $100 bet you get back your stake of $100 + $60, for decimal odds of 1.6. That's a losing game. Easy game, don't play.
Maths: +EV coin flip game - how much to bet? Quote
11-11-2013 , 09:23 PM
#29
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Quote:
Originally Posted by BruceZ
Not according to the OP you don't. His last post makes it clear you get your stake back + 0.6x. He said on a $100 bet you get back your stake of $100 + $60, for decimal odds of 1.6. That's a losing game. Easy game, don't play.
This is a valid point, because you have to know exactly what you are accepting when it comes to betting. Maybe the gentleman isn't that dumb. When OP discovers what's going on after a few flips it's too late.
Maths: +EV coin flip game - how much to bet? Quote
11-11-2013 , 09:37 PM
#30
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He's been completely consistent from the beginning.

Quote:
Originally Posted by Masq
60% ROI on your winning bets. eg. You bet $100 and you will win $60 and end up with $160.
Quote:
Originally Posted by Masq
Bet $100. Receive $160 ($100 stake + $60 winnings)

Decimal odds: 1.60
No reason to think it's anything else.
Maths: +EV coin flip game - how much to bet? Quote
11-12-2013 , 12:59 AM
#31
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Quote:
Originally Posted by masque de Z
In any case you know what the problem is all about and these details are irrelevant because obviously we only play plus EV games so whatever it is its not going to matter for the general solution. So stop horsing around lol causing me to type errors i never meant lol!!! A theorist will never solve the problem for the details given anyway, they will formulate it in general and obtain a general expression to benefit any problem.
Agree, but the problem must be exactly formulated anyway, as you can see from the previous posts.
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