Suppose a player finds a game where he has a 99% probability of winning. Is it rational to place $5000 dollars on a 10% return?
Or possible 30% return with say 45%
In any case going negative is <= 1%
The player can probably afford to play the game 3 times before losing liquid assets.
2007-03-13 17:40:44 · 6 answers · asked by Anonymous in Games & Recreation ➔ Gambling
When I say 30% return with 45% probability i mean risk some of the 10% return on a more speculative wager. There is a 55% probability of loss in that case the NET return is say 4%
2007-03-13 17:42:00 · update #1
Any gambler would definately put their money up with a 99% probability of winning, and any non gambler would think long and hard about doing it to. 99% is a very good chance.
2007-03-13 17:49:40 · answer #1 · answered by tiff98444 3 · 1⤊ 0⤋
If you are talking about a lock for a sports bet I can tell you there is not such thing as a lock! Nothing is for sure in betting so 99% doesn't exist. The odds of winning a sports bet is 50% either you will or you won't! The chances of losing that $5k is larger than 1% and the payout definately doesn't warrent the risk. If you are a sports bettor I would suggest to handicap the games, manage your money and don't believe everything you hear!
You can check out this site for sports handicapping stats to help you make wise choices.
http://www.sportsbettingstats.com
Also check out this sports forum it's excellent and alot of pretty good handicappers there giving out their selections for free.
http://www.predictem.com
Good Luck to you!
2007-03-16 04:53:40 · answer #2 · answered by John S 2 · 0⤊ 0⤋
appears like a rather obtrusive gamble. at the beginning an investment many times has greater to do with the religion (no longer even blind faith) that a enterprise (or despite you're 'making an investment' in) has the skill to furnish a good and make a income that that's prepared to share with you because of the fact of your investment. the actuality which you describe this as a sport wager is incredibly plenty a supply away that it is not an investment, yet a large gamble. Secondly - who gave you the opportunities? the place did they arrive from and how have been they figured? Be quite leery of odds like that given to you by way of the guy asking you to 'make investments'. a large gamble is a large gamble and some of the time the abode wins. And while you are the single being asked to 'make investments', then you certainly are no longer the abode.
2016-10-02 02:16:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You mean bet $5,000 to profit $500 (10%) on a 99% win rate? That is a very good bet to make. That means if you can bet that 100 times then you will make $49,500 99 times and lose $5000 1 time.
2007-03-13 22:07:41 · answer #4 · answered by closetcoon_fan 5 · 1⤊ 0⤋
you are talking about the game of poker. there is always a a sucker at the table and he is very easy to spot. next time you play come with five thousand dollars. if you cannot spot the sucker it is because you are the sucker at the table and have lost all your money
2007-03-14 02:57:31 · answer #5 · answered by Anonymous · 0⤊ 0⤋
... im not the gamblin type, so i would say no.. but hey. 99% aint bad.
2007-03-13 17:43:50 · answer #6 · answered by Kristin B 4 · 0⤊ 1⤋
go for iiiiiiiiiiiiiiiiit !
2007-03-13 19:24:43 · answer #7 · answered by Anonymous · 0⤊ 0⤋