KeyToTheMint
02-07-2005, 09:02 PM
Can someone explain this excerpt for me:
" For instance, suppose you're an 8-1 underdog and the pot of- fers 7-1. (I disregard future-round bets for the purpose of this discussion.) Say someone bet $10 into a $60 pot. You would now fold and save $10. But you really didn't save the full $10. The intuitive player might call in this spot and cost himself $10 seven out of eight times. However, he gains $70 the one out of eight times that he makes his hand. His bad play only costs an average of $1.25, which isn't much. "
I'm certainly not a math wiz but isn't the intuitive player
missing his draw 8 times for a loss of -80 and hitting
his hand once for +70? Hence he's losing 10 dollars for
9 plays, bringing the loss to 1.11 per play.
footnote: the excerpt is from Getting The Best of It
posted on this site.
" For instance, suppose you're an 8-1 underdog and the pot of- fers 7-1. (I disregard future-round bets for the purpose of this discussion.) Say someone bet $10 into a $60 pot. You would now fold and save $10. But you really didn't save the full $10. The intuitive player might call in this spot and cost himself $10 seven out of eight times. However, he gains $70 the one out of eight times that he makes his hand. His bad play only costs an average of $1.25, which isn't much. "
I'm certainly not a math wiz but isn't the intuitive player
missing his draw 8 times for a loss of -80 and hitting
his hand once for +70? Hence he's losing 10 dollars for
9 plays, bringing the loss to 1.11 per play.
footnote: the excerpt is from Getting The Best of It
posted on this site.