Trying to wrap my head around this:
1 in 10^100 bet -expected value $0.50
1 in 10^10 bet -expected value $0.30
1 in 10^5 bet -expected value $0.25
I'd prefer the 3rd, despite low EV. First two feel like the range of impossibility, so EV doesn't matter. EV could be $1.05, same.
Post
June 9, 2018