3 ms·
Not only that, but the most common outcome is $2. The median is $3. The chance of winning $1024 is less than 1/10th of a percent. Even if the house had unlim
by nostromo 11y ago
Not only that, but the most common outcome is $2. The median is $3. The chance of winning $1024 is less than 1/10th of a percent.
Even if the house had unlimited resources, it'd be hard to convince me to pay a large amount of money to play -- assuming I could only pay once.
- agsamek 11y agoI fully agree with this simple observation. If you have below $1M in your pocket, then there is no point to pay more than $1K for the game unless you are a gambler because probability of win is low (not expected value but probability) even with multiple runs. On the other hand if I had $2M spare money, then I would happily invest $1K in each of 1000 runs even if casino only had $10M in the bank. I would not spend $1M for a single run.