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Isn't that just the right thing to do, statistically? Vegas has been operating profitably this way for decades.
by twostorytower 1y ago
Isn't that just the right thing to do, statistically? Vegas has been operating profitably this way for decades.
- FergusArgyll 1y agoThe context was double or nothing the entire human population of the universe.
- roncesvalles 1y agoIt's not the same due to the Law of Large Numbers. The risk involved in many small 51% bets is very different from the risk in a single all-or-nothing 51% bet.
- lelanthran 1y ago> The risk involved in many small 51% bets is very different from the risk in a single all-or-nothing 51% bet. Right, but parent didn't say anything about an all-in bet, just double-or-nothing on a positive EV bet. Frankly, I'd repeatedly bet on a positive EV bet too; it's a guaranteed win if you're allowed to go on for as long as you want to.