Re: I flipped 100 coins
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Okay I've got a math question I was thinking about recently but am not smart enough to figure out my self (plz don't make fun if it's really easy).
Let's say I play blackjack and I am 49% to win every hand. If I played blackjack every weekend for 2 hours for the rest of my life, what would my chances at being a winner at the end be (if you need the figures, which you probably don't, let's assume I average 50 hands per hour and play 4000 hours in my life)?
I guess the answer is 49% but that doesn't seem right.
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it's not 49%, it's effectively 0.
edit: math deleted b/c i did it wrong and don't feel like doing it again. The conclusion is correct though.
The degenerate approach of making a -ev bet all at once is significantly better than betting piece by piece. Of course, the reverse is true if you're the one with the edge.
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