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A friend of a friend had the chance to take out $1000 on 1000:1 odds 18 months ago on Donald Trump being president. He should have taken it...

• jinfiesto 10y ago
  Wtf? Why would anyone not take this bet? Even if you didn't think Trump was going to win (I didn't) this is obviously absurd EV.
  • wtfishackernews 10y ago
    Because $1000 is a lot of money for some people
    • phyalow 10y ago
      No its I give you ten dollars, if trump wins you give me ten thousand dollars, else you keep my ten.
      • wtfishackernews 10y ago
        I was under the impression that it had to be $1000, but it doesn't matter anyway. If you bet $10 on everything that seems highly unlikely but may pay out a lot, you will end up losing money very quickly.
        • phyalow 10y ago
          Why do you say that? its called selling risk premium... I don't see many insurance underwriters blowing up!