3 ms·
It'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.
by roncesvalles 1y ago
It'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.