A roulette deal question

[housenuts]

reading Small Stakes Hold 'em last night got me thinking about this question:

Say you're walking around the casino with $500 in your pocket. As you walk by the roulette wheel they announce that for this spin only they are paying 50 to 1. The only stipulation is that you have to bet $100 and you can only bet on 1 number. Would you make the bet?

If not, how would you want to bend to rules (within reason) so that you would make the bet?

[pzhon]

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Say you're walking around the casino with $500 in your pocket. As you walk by the roulette wheel they announce that for this spin only they are paying 50 to 1. The only stipulation is that you have to bet $100 and you can only bet on 1 number. Would you make the bet?

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I would happily take that chance. The Kelly Criterion recommends doing so if my bankroll is greater than about $7100, and my bankroll is not the same as the money in my pocket.

[jordanx]

100$ is too rich for my blood, I'd do it for up to 20. Or, I'd do 100$ if they offered 3 to 2 on red or black.

[Theodore Donald Kiravatsos]

A few years ago, at Fitzgerald's in downtown Las Vegas, I got handed a coupon on the street offering a $250 for a $5 bet on 0 or 00 only. To this day, I regret not eating 5 shrimp cocktails at the Golden Gate instead.

However, I'd do it again if I got the chance. Granted, this is a much lower wager than your proposition, but I actually got 50-1 at roulette once.