Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Expected value

  • 02-04-2012 2:11pm
    #1
    lessthen50p
    Registered Users, Registered Users 2 Posts: 31 ✭


    I put 100 euro on 3/1 shot but I get 12/1 on it.
    There is one scenario and I can't win this bet, this happens 1 in 4 times.
    So what is my ev in this situation?


Comments

  • #2
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    lessthen50p wrote: »
    I put 100 euro on 3/1 shot but I get 12/1 on it.
    There is one scenario and I can't win this bet, this happens 1 in 4 times.
    So what is my ev in this situation?

    I don't understand the highlighted bit but if we assume you have 12/1 about a 3/1 shot then:

    Probability you win = 25%
    Probability you lose = 75%

    Therefore your EV is 12*.25 - 1*.75 = 2.25


  • #3
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    or is there more to this than meets the eye via the highlighted bit (which I didn't understand) and therefore I've misinterpreted the situation :confused:?


Advertisement