teaser

[Pitbull3k]

You want to bet on the yankees to win a playoff series. You go to a bookie and place a bet at 1-1 to win $1000. The bookie replies I dont take series bets, only individual games. How much should you bet on each individual game to win exactly $1000 no matter how many games the series goes, if the yankees win.

[ApeAttack]

Just to make sure I understand...
Do you only want to gamble $1000 (net) regardless if the Yankees win or lose the series?

[arahant]

You can't make all the bets in advance...Actually, you don't have to make any bets at all until the yankees win 3 games. When you get to that point, you bet 1k on the yankees. If they lose that game (and it's not game 7) you bet 2k on the next one

[thylacine]

For a best-of-3, i.e. race-to-2 series, bet $500 on 1st two games, and bet $1000 on game 3 if it is (needed to be) played.

[thylacine]

[ QUOTE ]

For a best-of-3, i.e. race-to-2 series, bet $500 on 1st two games, and bet $1000 on game 3 if it is (needed to be) played.

[/ QUOTE ]

For a best-of-7, i.e. race-to-4 series, bet $312.50 on 1st two games, and ...... I'll leave it there as another tease.

If OP knows how to do it, he knows I've got it.

[jason1990]

[ QUOTE ]
You want to bet on the yankees to win a playoff series. You go to a bookie and place a bet at 1-1 to win $1000. The bookie replies I dont take series bets, only individual games. How much should you bet on each individual game to win exactly $1000 no matter how many games the series goes, if the yankees win.

[/ QUOTE ]
Instead of trying to win $1000, I will try to win $16, since the answer is easier to state. Scale it up for any desired amount.

Bet $5 on each of the first two games. In game 3, bet $6 if the series is tied, and $4 otherwise. In game 4, bet $6 if both teams have won at least one game, and $2 otherwise. In game 5, bet $8 if the series is tied, and $4 otherwise. Bet $8 in game 6. Bet $16 in game 7.

[AlexM]

Isn't a playoff series 5 games?

[AlexM]

[ QUOTE ]
[ QUOTE ]
You want to bet on the yankees to win a playoff series. You go to a bookie and place a bet at 1-1 to win $1000. The bookie replies I dont take series bets, only individual games. How much should you bet on each individual game to win exactly $1000 no matter how many games the series goes, if the yankees win.

[/ QUOTE ]
Instead of trying to win $1000, I will try to win $16, since the answer is easier to state. Scale it up for any desired amount.

Bet $5 on each of the first two games. In game 3, bet $6 if the series is tied, and $4 otherwise.

[/ QUOTE ]

My understanding of the question is that you're making all the bets up front before you know any results. You're trying to create a 1k series bet.

[arahant]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
You want to bet on the yankees to win a playoff series. You go to a bookie and place a bet at 1-1 to win $1000. The bookie replies I dont take series bets, only individual games. How much should you bet on each individual game to win exactly $1000 no matter how many games the series goes, if the yankees win.

[/ QUOTE ]
Instead of trying to win $1000, I will try to win $16, since the answer is easier to state. Scale it up for any desired amount.

Bet $5 on each of the first two games. In game 3, bet $6 if the series is tied, and $4 otherwise.

[/ QUOTE ]

My understanding of the question is that you're making all the bets up front before you know any results. You're trying to create a 1k series bet.

[/ QUOTE ]

I'm pretty sure that's not possible...or at least, it wasn't when i thought about it for my first post - too lazy to think any more... though thylacine seems to have worked out that it is. Care to continue your "7-game" strategy, thylacine sir?

[thylacine]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
You want to bet on the yankees to win a playoff series. You go to a bookie and place a bet at 1-1 to win $1000. The bookie replies I dont take series bets, only individual games. How much should you bet on each individual game to win exactly $1000 no matter how many games the series goes, if the yankees win.

[/ QUOTE ]
Instead of trying to win $1000, I will try to win $16, since the answer is easier to state. Scale it up for any desired amount.

Bet $5 on each of the first two games. In game 3, bet $6 if the series is tied, and $4 otherwise.

[/ QUOTE ]

My understanding of the question is that you're making all the bets up front before you know any results. You're trying to create a 1k series bet.

[/ QUOTE ]

I'm pretty sure that's not possible...or at least, it wasn't when i thought about it for my first post - too lazy to think any more... though thylacine seems to have worked out that it is. Care to continue your "7-game" strategy, thylacine sir?

[/ QUOTE ]

jason1990 posted a complete answer above. (Note: (5/16)$1000=$312.50.)

Yes, you need to base each bet on results so far.