Re: Tuan Le and The Grinder
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If the Grinder has a positive expectation in tournaments how could his backer(s) have a negative expectation on the deal?
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Because they have 100% of the result if he loses money, but only 60% if he wins. From the backer's perspective, the tournament payouts have just shrunk by a lot, and Grinder is likely -EV in this "new" tournament.
EDIT: And somehow I missed Ed's initial, more numerically detailed reply.
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