It's not only the odds but the magnitude of the bet that matter. Because losing $1000 wouldn't bother you much, you're happy to do it. But scale the propositi

It's not only the odds but the magnitude of the bet that matter. Because losing $1000 wouldn't bother you much, you're happy to do it. But scale the proposition up enough, perhaps 10^3, and you wouldn't be so relaxed about it. E.g. 1-in-a-million chance of winning $10 trillion, but it costs $1 million to play.