top | item 45108472 (no title) twostorytower | 6 months ago Isn't that just the right thing to do, statistically? Vegas has been operating profitably this way for decades. discuss order hn newest roncesvalles|6 months 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|6 months 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. FergusArgyll|6 months ago The context was double or nothing the entire human population of the universe.
roncesvalles|6 months 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|6 months 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.
lelanthran|6 months 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.
FergusArgyll|6 months ago The context was double or nothing the entire human population of the universe.
roncesvalles|6 months ago
lelanthran|6 months ago
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.
FergusArgyll|6 months ago