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Thread: Knowing you had a 50 percent chance of winning...

  1. #1
    God/dess Mr Hyde's Avatar
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    Default Knowing you had a 50 percent chance of winning...

    ... and would be paid 10 times the amount of your bet if you won, what fraction of what you now own would you be willing to wager?

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    God/dess onlythebest's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    It's too damned late for math!!!
    One of woman's cardinal rule: Body parts can be fake,everything else has to be real.

    一个女人的枢机规则:肢体可以伪造,一切必须真实.

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    God/dess
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    Default Re: Knowing you had a 50 percent chance of winning...

    ^I agree!

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    Banned Blade's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    0..i aint a bettin man unless I know i have a 100% chance of winning

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    Member Skorn's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    Thats a good deal! I would put my whole checking account ($20,000+) on that bet.

  6. #6
    Jay Zeno
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    Default Re: Knowing you had a 50 percent chance of winning...

    No more than I could afford to comfortably lose, of course.

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    Featured Member polecat's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    I'd say 10% of what I own.

    If I win, 10x 10% = 100%, so I'd double my current capital.

    If I lose, I only lose 10%.. which is a small price to pay for the 50:50 odds to double what I'm worth.
    It doesn't matter if you're somebody in this world, it rather matters you mean the whole world to somebody.

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    Senior Member ReleaseTheBats's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    were you watching Let's Make a Deal?

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    God/dess scarlett_vancouver's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    I like polecat's logic.

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    God/dess doc-catfish's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    I assume that for sake of example, we only get to wager once.

    If you got to wager multiple times it makes sense to wager small amounts that you can afford to lose (so you can place another bet of the same size), and then increase them as your stake accumulates. At a 10:1 payoff for wins, one win equals out a mathematically improbable ten losses.

    But let's make this fun. Call out the amount you want to wager, and say heads or tails. Then go to this website and flip a coin.

    http://www.youthonline.ca/games/coinflip/

    I'll wager $2,500 and call tails.

    Result = TAILS. Woo hoo! where's my $25K?
    Former SCJ now in rehab.

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    God/dess blondhottie's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    I would only wager around $100. Even though the odds are 50/50, I have terrible luck and would probably still lose.

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    God/dess threlayer's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    It's a question of math...

    (50% * 10) minus (50% * 1) = the expected return on investment is +4.5. Hell, yes.

    The expected return on the Lotto is close to - 0.5. Hell, no.

    Added: Turns out that to maintain an even score (return is 1 or greater) even if the chance of winning at the same 10:1 ratio is down to 22.3% you are doing good. Doing a little algebra will help you find out quite a bit about games of chance.
    Last edited by threlayer; 12-29-2005 at 03:39 PM.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Senior Member MeganR's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    I'd bet everything I had. Those odds are too good to pass up.

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    Veteran Member LusciousLyzz's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    i wouldn't bet anything, because knowing my luck, I'd lose!

  15. #15
    God/dess threlayer's Avatar
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    Default Re: Knowing you had a 50 percent chance of winning...

    With one one chance to bet, you might lose. But if that bet were offered many times, you'd win big, almost for sure. That's why you never see those bets; some people can do math.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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