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#1
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By EV I mean expected value and not $/hour! I need to settle this once and for all. I have this posted at 3 forums and it's split almost evenly the number of people who think both ways.
I'm having a debate with several people over this. Here is the scenario. Casino x is giving you a $100 bonus for depositing $100 at their site. You have to wager $2000 to clear the $100 bonus and cash out. Group 1 says that the EV of the bonus is the same no matter how much you bet. If you bet $20 100x then you should expect $2000x.995= (house edge of .5%) $10. Subtract that $10 from the $100 bonus and you net $90. If you bet $1 2000x then it's the same exact result. Group 2 says Anytime wagering requirements do not carry over, betting higher increases variance, which increases EV. This reason is very simple. Over the long run you are wagering a lot less at a negative expectation game. Who is right? EDIT: This is what the math forum thinks about it This is what they think about it over at Rx (the discussion starts on page 3) |
#2
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pzhon is correct when he says that EV increases with bet size. I've said it here many times, but everyone refuses to believe me. In that case, I suggest anyone who thinks that larger bet sizes do not increase EV to take pzhon and I up on a bet to be confirmed by an independent auditor like the Wizard of Odds.
I'll take action up to $100,000 with a minimum bet of $25,000. I can't speak for pzhon, but I'm sure he's willing to wager a relatively large sum as well. |
#3
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[ QUOTE ]
pzhon is correct when he says that EV increases with bet size. I've said it here many times, but everyone refuses to believe me. In that case, I suggest anyone who thinks that larger bet sizes do not increase EV to take pzhon and I up on a bet to be confirmed by an independent auditor like the Wizard of Odds. I'll take action up to $100,000 with a minimum bet of $25,000. I can't speak for pzhon, but I'm sure he's willing to wager a relatively large sum as well. [/ QUOTE ] If that's the case, how much dif does it make and how much more variance are we talking? |
#4
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[ QUOTE ]
[ QUOTE ] pzhon is correct when he says that EV increases with bet size. I've said it here many times, but everyone refuses to believe me. In that case, I suggest anyone who thinks that larger bet sizes do not increase EV to take pzhon and I up on a bet to be confirmed by an independent auditor like the Wizard of Odds. I'll take action up to $100,000 with a minimum bet of $25,000. I can't speak for pzhon, but I'm sure he's willing to wager a relatively large sum as well. [/ QUOTE ] If that's the case, how much dif does it make and how much more variance are we talking? [/ QUOTE ] The difference is likely minimal over a small sample, but significant over many trials. The variance will go absolutely sky-high through the roof. |
#5
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[ QUOTE ]
pzhon is correct when he says that EV increases with bet size. I've said it here many times, but everyone refuses to believe me. In that case, I suggest anyone who thinks that larger bet sizes do not increase EV to take pzhon and I up on a bet to be confirmed by an independent auditor like the Wizard of Odds. I'll take action up to $100,000 with a minimum bet of $25,000. I can't speak for pzhon, but I'm sure he's willing to wager a relatively large sum as well. [/ QUOTE ] How do people not see this as true? If they're more concerned about risk of ruin, then fine. But if you are going to gamble , then GAMBOOL!! |
#6
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I can't believe there are people who still argue about this.
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#7
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I can't believe there are people who still argue about this. [/ QUOTE ] I'm still a noob to casinos [img]/images/graemlins/smile.gif[/img]. Btw, you think it's yes or no? |
#8
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Your EV per dollar waged will remain constant. Your overll EV goes up.
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#9
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Your EV per dollar waged will remain constant. Your overll EV goes up. [/ QUOTE ] well put. might as well amend it to say EV per dollar wagered remains constant Average amount wagered decreases from busting out Overall EV goes up |
#10
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Given that Ed Miller settled this matter on this forum, you might be hard pressed to find anyone here who thinks otherwise. I too am falling in line, EV goes up.
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