Re: Help with numbers
Say you are playing the lotto and the odds are 1:X that you will win. If the pay out is larger than X then it is a good bet to buy a ticket, right?
Correct, from a purely EV point of view.
If I translate this to the flush example I am 1:5.2, to catch my hand (win the lottery) and then I need greater than [5.2 times (the bet)] to make the draw worth calling.
You're confusing odds and probability. The probability is 1 in 5.2, but the odds are 4.2:1, so you need greater than 4.2 times your bet to call.
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