I don’t think it’s hard to articulate why. The reason why is that expected value places too much emphasis on low probability edge cases. With 75% probability,

I don’t think it’s hard to articulate why. The reason why is that expected value places too much emphasis on low probability edge cases. With 75% probability, you make at most 4 dollars. There’s almost a 94% chance you make less than 40 dollars. As humans, we evaluate improvable events as not mattering so much.